Clients often disengage from their adviser instead of ending the relationship entirely, according to Morningstar global head of behavioural insights Ryan Murphy.
Speaking at the Morningstar Investment Conference 2025 on Wednesday (7 May), Murphy said it is not common for clients to fire their adviser, but they will instead disengage from the relationship. "A disengaged client is not growing with you," he told delegates. Murphy said Morningstar ran a survey of 399 advice clients asking them about behaviours that may cause irritation. "The number of complaints reported were far more than we expected," he said. "We found that using lots of jargon is a quick way to lose your clients' trust. "We are all prone to the curse of knowledge, but ad...
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