Five signs of a timewaster client (and how to deal with them)

Whether prospective clients that keep you on the phone for an hour with no intention of paying a fee or new clients who disappear after terms have been agreed, there are few things more irritating – or more costly – to financial advisers than timewasters. Yet, as annoying as they are, the desire to attract new clients following the implementation of the Retail Distribution Review (RDR) means it has become increasingly difficult to turn anyone away, no matter how doubtful you may be. There are, however, ways of managing this type of client. These include spotting a potential timewaster...