Let’s assume Dr. Smith is a very competent doctor, but he has no bedside manner. You and your family have relied on his specialized knowledge and advice for years. Based on this information how important is his bedside manner?
In my opinion, it has no importance. Choosing between competence and bedside manner is easy. You are looking for competence, not a friend, when you select a doctor. A doctor’s bedside manner may make you feel good, but his knowledge will help you live a longer, healthier, life.
The same is true for financial advisors. You want a competent, ethical professional advising you on the investment of your assets. However, millions of investors select the advisors they like the best versus the advisors with the best credentials, ethics, and business practices.
Like doctors, many of the best financial advisors are quantitative, intellectual, and analytical. This makes them experts in their respective fields, but their personalities do not produce great bedside manners.
I believe personalities should not matter when you select a professional: Medical, financial, tax, legal, etc. You want the best professional, not the friendliest one. Plus, strong personalities are usually a characteristic of sales people, not professionals who spend most of the day analyzing trends, investment alternatives, and forecasts.