fired my ‘Nutritionist and Obesity Consultant’ – not as ceremoniously as I am announcing here, actually quite the opposite. I made some excuses, skipped a couple of appointments and then, simply stopped going. Rather uncharacteristic of me, but that’s that.
There was a strong willingness to reach my goal initially. There was also an exhibition of initiative by seeking out a consultant. An action plan had also been prescribed. In spite of doing all of that, and spending money, I simply dropped the whole thing. I was the classic case of the ‘non-adherent’ client.
Now imagine the wealth management industry – Frankly, if our clients exhibited initiative and got in touch with us, that would be a joyous event to begin with. After we make an action plan if it is not executed, we try and explain the same thing in a different way, try again and even after that, if there is no action, well, we know what we say.
Medical Practitioners and Investment Advisors have a lot in common. Many experts have referred to this correlation before and there are various levels of intersection among the two – ‘non-adherence’ being the most common one.