Create trust
Self-employed clients may pose extra challenges for advisers in this area.
Being self-employed often requires independence and self-confidence. This can sometimes make it more difficult for a self-employed client to ask for help because they are usually the person who sorts out any problems. Self-employed clients are often emotionally, as well as financially, invested in their business. If the business is struggling, some clients may feel a sense of personal failure. That is in addition to the usual problems that clients face when dealing with serious debt, which can make asking for and accepting help more difficult.
Some self-employed clients may feel protective of their business and reluctant to share information about the business or its debts. Explain that you are asking for this information to ensure the client gets the advice they need. That helps the client to get the best outcome for dealing with their situation and to protect their business when possible.
Ensure that a self-employed client is given the appropriate level of responsibility for carrying out tasks needed to deal with their situation. Be aware that some self-employed clients may feel deskilled and disempowered if an adviser takes over simply because they, or their business, is in financial difficulty.