Transfers Out

This is an open letter to advisors everywhere. We all know the pain of receiving a transfer-out notification. It’s a matter of handling them with professionalism

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You just received a transfer out notification. Your soon-to-be former client has decided they’d be better served elsewhere.

I know the feeling and I know it hurts. Even though your mentor is telling you not to take it personally, you’re taking it personally. You’re recounting recent conversations and thinking, “Could I have said this? Why didn’t I do that? If I only had tried that other thing.”

But soon those thoughts will be replaced by mean thoughts. “I didn’t even like them anyway. They never took my advice. Good riddance – I was going to fire them anyway.” Those emotions will abate, and when they do, your job is to make sure the transfer completes without issue.

“Hey xyz and abc, I received your transfer out notifications. I’m sorry to see you go. It’s been a pleasure being of service. If your new advisor has any questions or needs any help with the transfer process, please have them contact me directly. I’m happy to help. I wish you all the best.”

That’s all you have to do. The high road is hard to find. But it's the road to take.