Breaking Bad News To A Client About Prior Problematic Financial Decisions - Kitces & Carl Ep 199

The gist

1. Ask neutral discovery questions first, like 'What was your goal here?' to understand the client's reasoning before offering any critique.
2. Build the ideal financial plan first, then circle back to show why current holdings fall short, so the client has context before hearing hard news.
3. Ask permission before delivering hard truths. Kitces and Richards suggest a phrase like 'Do I have permission to be professionally candid?' to prepare clients.
4. When flagging a bad product, stick to facts such as commission rates rather than attacking the character of whoever sold it.