A day in the life of a financial planner (part 2)

15 March 2018Myra Knoesen

In part one of the article we highlighted what the daily schedule of a typical adviser would usually include. In part two of the article we take a look at an example of what a typical day looks like in the life of a financial planner.

Your job as a financial adviser is going to encompass a great deal more than managing investment portfolios or closing sales.

Prospecting, marketing, customer service, compliance, administration and education also will be part of your daily routine, and your ability to effectively integrate these things into your schedule can ultimately determine your level of success in the business.

An example - a typical day

Michael Solari, a Certified Financial Planner and Contributor of Business Insider, says his workday as a financial planner starts at home, and, unlike with many traditional firms, 99% of his planning is done online.

“Virtual planning is becoming more accommodating as consumers become more diligent in their search for a suitable adviser. No longer is the search confined to your town, and it's more convenient to hop on a Google Hangout than it is to schedule an in-person meeting,” says Solari.

Here's what Solair’s typical day looks like:

7:15 am -Peruse emails, just checking for anything I think is urgent. I take this time to respond because many of them are on tight deadlines.

7:30 am -After my morning cup of coffee I start reading articles in my feed. If any articles intrigue me, I share them with my network through different social media platforms.

8:15 am -I try to meet with two or three influencers a month for coffee. This can be anyone that I can learn from or someone whom I might be able to help out. It's always interesting to hear how other advisers have built their practices and what they are currently using for software, and they were interested in my approach to social media.

If no coffee, this is where I pull out my checklist and circle my top two priorities for the day. One is client-focused and the other is business-focused.

The client tasks usually consist of projects or reviewing of portfolios, my clients' progress, and their goals. The business tasks consist of analysing my business and thinking about how to improve it, whether it's through marketing (usually inbound) or creating more efficiency in my practice.

11:30 am -Check emails and respond to those that most need addressing.

12 pm -Lunch/decompress. By this time, I need a break. Typically, I will step away from work.

1pm -After lunch on Monday through Thursdays is when I try to schedule most of my client meetings, or reach out to clients whom I may not have contacted recently. I help navigate my clients' finances so they can focus on what matters to them, from boring things like retirement planning or how to deal with student loan debt to exciting things like changing careers or starting a business. I always leave my Fridays open to help me organise what happened during this week and prepare for the next.

If no meetings are scheduled, I try to fill this time with things that will help me develop professionally. I sign up for continuing education courses, seminars, networking sessions etc.

3pm - 4pm(ish) -At this point my brain is at max capacity. I might do some administrative tasks, but I usually call it a day.

One of the most attractive aspects of being a financial planner is flexibility. I am not confined to a cubicle or office from 9 to 5. Now, I stop work when I am done. I work when I am up to it. Sometimes that can be late at night or on weekends, but it is on my terms.

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