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While it is "okay" in my view to be friendly with clients strictly within professional limits. It's strictly a "No No" in my book to be overtly buddy buddy with the clients because business is business. The client is expecting quality product/business and a professional conduct from us which is their major concern and we should focus on delivering absolutely that.
However it should be understood that "Taking care of clients" and "being Friendly" with them are2 seperate things. I'm all for caring for the client, trying to understand needs wants and desires to seek ways of providing benefit to them through our services/products etc within business constraints.
Business professionals who establish friendships with their clients often have to face issues like: frequent discount demands, unfavorable payment terms, delayed payments, issues with financial matters and invoicing, requests for acting out of the business code of conduct etc. Sometimes when you get a little too comfortable with the client he/she might end up thinking they're over-paying you.
Establishing vital relationships with customers/clients is of key essence and should be achieved professionally by trying to satisfy their needs using the right products and services, within good time and with sincerity within business constraints.
