Should I Take Time Off Over the Holidays?

3. You are a hard worker.

Your clients might leave the office on Christmas Eve telling their workmates "See you in the New Year!"  You let your clients know you will be spending the holiday with your family, but you will be at work.  Some clients have year-end retirement plan issues or tax selling to address.  They wonder if their advisor at their other investment firm is saying "See you in the New Year!" to their colleagues.

4. Visit with your clients.

If they are home for the holidays, this is a relaxed time to visit over coffee or a glass of wine.  You can set a date for a portfolio review in early 2020.  You can chat about their future plans.

5. Meet your client's extended family.

In many families, the clan gathers for the holidays.  If you buy holiday gifts for clients, call and mention you would like to stop by and deliver it.

6. Retirement plan issues.

Required minimum distributions (RMDs) are an obvious example.  Have they made their current year retirement plan contributions?  Although you can make IRA contributions up until the tax filing deadline, it's logical to do it in the current year.

7. Horses at the starting gate.

Your client wants to invest, but they haven't committed.  Suggest they get everything in place before Dec. 31.  When they watch TV and see the performance of the stock market reported, the reference point is often "Year to Date" performance.  If they are fully invested by Dec. 31, it's easy for them to compare their performance v. an index because both are measuring YTD.

8. Clients are relaxed.

When you meet during the rest of the year, clients can be stressed.  They have a big report due.  Their firm announced a reorganization.  They are getting their children ready for the new school term.  Things slow down around the holidays.  It's easier to get them to focus.

There are many reasons you should take working during the holiday season seriously.