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It is tough to focus on business during the holidays. Unlike many other professions, financial advisors stay close to the phone in case clients have last minute tax loss selling before the ball drops on December 31st. Everyone still parties. The first business day of the new year is Friday, January 2nd. Plenty of articles address best practices, how about looking at mistakes financial advisors should avoid?
1. Extending your vacation until January 14th. If you cannot get away over Christmas, why not fit that holiday into January? Airfares should be lower after the holidays. It must be snowing somewhere, which is ideal for skiing. Prices in Cortina and Milan, Italy will shoot up as the Winter Olympics get closer. Doesn’t it make sense to get away now?
Why: Clients will be rolling up their sleeves, ready to focus on taxes and planning how to spend their annual bonus. Your voice needs to be heard.
Instead: Assuming your book of business is under 200 clients, try to be in touch with as many as possible in January.
2. Not calling clients. It can be easy to feel you need to “get all your ducks in a row” and spend the first couple of weeks putting together a plan for the new year.
Why: This is a time of year when people are focused on making changes. That’s what making resolutions is all about. They wonder how they did in 2025.
Instead: Get in touch. Schedule their annual review (If you didn’t do this in December) or remind them of the date for their annual review. Be ready to share your outlook for 2026.
3. Calling but having nothing to say. You buy into the idea of calling clients, but focus on asking about their holiday and telling them about your vacation.
Why: You are their financial professional. That should be the reason for your call. Something needs attention.
Instead: What does your firm’s research department have to say about the stock market in 2026? What are their predictions? What are the enduring trends? Is your client invested in all of those trends?
4. Postponing prospecting. Most people despise prospecting. They might admit it is necessary, but many avoid it or try to outsource it.
Why: The beginning of the year is when people are in the mood to make changes. There might be self directed investors unhappy with their results. Some people with advisors might think their advisor doesn’t do much. They are ready for a change.
Instead: Here is a line that has been around forever: “When was the last time you heard from your advisor?”
5. Getting depressed about your goals. Everyone starts off the year with a blank slate. You might say “But I have annuitized revenue coming my way.” That ‘s true, but the client and assets need to still be at the firm to generate the revenue.
Why: Take the positive view. You are not behind. Everyone is side by side at the starting gate./ It’s a new year. Nothing has happened yet to mess it up.
Instead: Set goals. You hit a big goal by hitting a lot of little goals. Your list should include goals for activities done, not only ringing the cash register.
6. Not having a vision for the coming year. No one knows (for sure) what the stock market will do in 2026. You can make the case we are due for a pullback, but the bull has been enduringly strong lately. Don’t come across as having no clue.
Why: Your client is paying for advice. They want direction. They need to hear your vision. People follow a leader if they know where their leader is taking them.
Instead: Checkout your firm’s research. What are they saying? Has your firm’s research won any awards? You might work that into conversation.
7. Assume young people have no money. Everyone talk about the difficulty of getting on the property ladder. We head wages have not kept up with inflation. You have young clients. They might be there as a favor to your older, larger clients. Don’t they deserve attention?
Why: The stock market has done well. There are many people who use the gift tax exclusion as a way of gradually transferring money to the next generation. There are young people in the tech industry who are making serious money.
Instead: Give them the attention as you would give to your older clients. Have ideas to share. Indicate it needs fresh money. See what they say.
8. Not asking about client bonuses. Many people get bonuses at the start of the year.. It is often a major part of their compensation. Many companies prefer this approach instead of salary increases.
Why: This can be a substantial amount of money. Your client might have luxury purchases or another use for this windfall in mind.
Instead: You need to make your case why the money should be brought “in house” and be put to work.
9. Assume you brought up referrals enough. Every advisor likes to say they grow their practice through client referrals. It is the polite way of telling the sales manager “Stop bugging me about prospecting.” My client knows. I don’t want to sound like a broken record..
Why: It’s the start of the new year. Friends might be telling them their current advisor is not living up to their expectations. People need to hear a message at least six times before it sinks in.
Instead: When was the last time you brought up referrals? The more specific the request, the better it is. “Who else is concerned about not having enough money for retirement?”
10. Depress the advisors sitting around you. This is mentioned because you know this person! They spread gloom. They say “I would never encourage my child to go into this business.” They also say “The business has completely changed since I got started.”
Why: These people often benefit when another advisor leaves because of account redistribution. They might complain, but they are not retiring or leaving. For some reason, depressing others brings them joy.
Instead: We the optimistic person in your office. Be the one who considers every day as a blank canvas. The newer advisors will look up to you. Your manager will notice.
It is important to hit the ground running. It is also important to show up for the race.
Related: Time: The Currency That Cannot Be Replaced but Can Be Preserved