The most difficult part of the financial advisor job is to find new clients

This is not surprising, but when a person suddenly becomes wealthy by selling a company, taking possession of an inheritance, or in a more extreme case by winning a lottery, that person is suddenly interesting for a lot of financial advisers. The most difficult part of the financial advisor job is to find new clients. This is more difficult than it may sounds. If you win the lottery tomorrow, there are high chances that you will start receiving many phone calls from financial advisors willing to meet you to explain to you how well they can help you manage your news wealth. Financial advisors fight between each other to convince rich prospective clients. However, there different types of financial advisors. Robert van den Eijck once pointed out that "you can compare a private banker to a ready-to-wear clothing salesman and a wealth manager to a tailor who makes tailor-made clothing, although the craft has evolved over the years." Private bankers work in the private banking divisions of large retail banks or investment banks, they often simply have a product from their own bank to sell to the clients. On the other hand, the wealth manager will be more interested in understanding all the aspects of a potential client in order to provide the best-tailored service. That does not mean though that all wealth managers provide better services than private bankers. It actually depends on many factors and the own circumstances of every client.