Wealth Adviser

How to Handle Clients' Unrealistic Ideas, Requests

Nov. 18, 2013 9:59 a.m. ET

Clients sometimes say the darndest things.

Whether they share a "brilliant" investment idea, want to lend all of their money to siblings or sell everything to buy gold, good advisers will hear them out--even if they heartily disagree.

With that in mind, below advisers and a therapist share some of the unrealistic ideas and requests they have heard from clients and how they have handled them.

Tell a Joke

Neal McGrath, partner, Carson Institutional

The request:

A few clients wanted to sell 100% of their portfolios to buy physical gold.

How he handled it...

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