Is it human nature to betray confidences? As I suggested last month, it may well be. But if you habitually divulge confidential information, your practice will leak clients like a sieve. So how do you lock down a leaky practice? Start by changing human attitudes. Here’s a story that illustrates my point.
An advisor’s client–a retired physician–needed help with charitable gifting. This involved the purchase of a substantial life insurance policy, but since this wasn’t exactly the advisor’s area of expertise, she responsibly asked another agent for help.
After hearing the client’s name and financial situation, the second agent “leaked” the information to a law firm he worked with. Next thing she knew, one of the firm’s attorneys tracked down the client and took control of the case, circumventing the advisor. He also intimated to the client that she had endorsed this move. Not true!