What Should Advisors Do Before Going on Vacation?

You work hard. You deserve time off. Telling your clients is both a courtesy and a humanizing factor. It’s tough telling all your clients, but your core group of active clients should get some personal contact.

Do’s:

• Do get in touch, telling them the dates you will be away.
• Do downplay the luxury and expense. You are taking some time to spend with your spouse and family. Fill them in on destination details if they are interested.
• Do explain coverage in your absence. Who will be answering your phone? Handling trades while you are away?
• Do ask if they need anything done before you leave. They might have some money they’ve been meaning to put to work!
• Do let them know your office knows where to get ahold of you in case of emergency. You will be calling in a couple of times to touch base.
• Do let them know you probably won’t be checking e-mail regularly. They should understand.
• Do bring along a list of their phone numbers and mailing addresses. You don’t announce this, but you want to be prepared.
• Do let them know you will be sending them a postcard. That’s why you brought the addresses!
• Do ask about their vacation plans. You aren’t the only one that gets away.
• Do watch the market while you are away. Although you are decompressing, you want to be aware of sharp moves.

Here’s an observation from a 1989 trip to France. The market dives. We are watching French TV. We don’t speak the language. I figured out if the financial news showed people at screens and keyboards tapping away, the market was OK. If it showed people on an exchange floor throwing their hands in the air and screaming, things were not OK.