Clinical psychologist and performance coach Alden Cass, helps advisors target and work with clients based on what he has determined to be 10 investor personality types. Likewise, Cass has determined that there are five categories of advisors. Below are his determinations.
The five advisor categories are:
- The Catalyst - an advisor with a magnetic personality, a stimulation seeker, a self-promoter, and a bit of a risk-taker.
- The Voice of Reason -- an advisor who is extremely patient, predictable, and reliable. They are meticulous and avoid risk.
- The Decision Maker -- an ambitious advisor, decisive and goal-oriented.
- The Facts and Detail Advisor -- analytical thinkers slow to make decisions.
- The Contrarian -- a blunt personality, known as a non-conformist, adversarial in nature and who enjoys conflict.
The ten investor profiles include:
- The Micromanager -- an obsessive personality. This investor enjoys presentations that focus on facts and figures.
- The CEO -- results-oriented and generally cares only about actual returns.
- The Grand Inquisitor -- high anxiety, requiring a lot of handholding.
- Neurotic Ned -- risk-averse, requiring a small investment early on in the relationship to build trust.
- The Politician -- flashy presentations and typically easily impressed with success.
- The Thrill Seeker -- very high-risk investments and enjoys the rush of investing in volatile markets.
- Mr. and Mrs. Look-at-Me -- arrogant-style client, superficial and materialistic.
- The Flake -- loses paperwork, misses appointments, and does not return calls.
- Steady Mr. Goldfinger -- begins the relationship as a conservative investor and with small successes develops an appetite for risks.
- The Miser -- hoards money and is a very conservative investor.
Financial Advisor Transitions consults advisors nationwide to explore employment transition options and to preserve and protect their practice in any transition that they make.
