At Lee Financial in Dallas, advisor Dusty Wallace says she and the other advisors in her shop answer clients’ family member's questions: “When we are not telling them anything more than they already know.”
For example, clients’ adult children may ask when (not if) their parents have scheduled a meeting with an attorney to draft a will. The caller already knows the meeting is scheduled, confirming the time is not going to ruffle any feathers. Or an adult child may say, “I heard Mom was about to buy a new car.” An advisor’s affirmation, in that case, is unlikely to cross any confidentiality lines, says Wallace.
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