BLOG
(1). In finance, to sell investments that have appreciated quickly in an attempt to lock in profits. The phrase is used by financial advisors when speaking with clients to provide them with a sense of accomplishment that will; 1 lead to their approval, and 2 allow the advisor to gloss over the poor performance of other investments in the portfolio.
(1). A nice way of describing clients who’re not that rich.
“Look, Jim … we’re not really targeting the mass affluent here. We’d much rather compete with everyone else for the same 400 or so ultra-high-net-worth clients … hopefully score one or two and then retire before they inevitably get bored with us and move on.”
(1). To take on a new client that you know is going to cause trouble for you down the road, but is just too lucrative right now to pass up.
(2). To hire a service provider (read: outsource firm) that will be next to impossible to unload once they’re in place.
“You know once we get into bed with these guys, we’re never going to be able to get rid of them. Like the Kardashians.”
