The summer months, often seen as a lull in the wealth-management calendar, are increasingly being used by advisors to sharpen their practices and prepare for the year-end rush. Rather than simply taking a break, many advisors are using this period to focus on strategic initiatives that can give them an edge when client activity picks up in the fall.
Todd Perry, an advisor and partner at EP Wealth Advisors, which oversees more than $10 billion in client assets, emphasizes the importance of using summer to work on the business rather than in it. “Summer is a great time to work on the business instead of constantly working in the business,” Perry said. His team uses the slower pace to evaluate marketing effectiveness, follow up on leads generated earlier in the year, plan fall client events, and strengthen referral relationships. They also review tax-planning opportunities and organize required minimum distribution (RMD) and qualified charitable distribution (QCD) lists to proactively communicate with clients before year-end.
Perry noted that summer is an ideal time for junior advisors to pursue professional designations, continuing education, or specialized training. He also highlighted public speaking development as a key initiative, with his office practicing weekly during the summer to build confidence and communication skills. “It’s amazing how much confidence and communication skill can be built simply by presenting in front of peers on a regular basis,” he added.
Valerie Johnson, wealth planning manager at Axtella, a firm with $5.2 billion in assets under management, echoed the sentiment. She said the calm of summer provides the perfect environment to start planning and strategizing for ways to meet client needs once business picks up in the fall. “When you’re not rushing from meeting to meeting, you have time to plan for yourself and begin to implement your goals,” Johnson said. She cautioned against overcommitting, advising advisors to choose just a few topics to focus on to ensure intentional implementation.
Connor Sung, director of practice management at eMoney, a provider of financial planning software used by over 100,000 advisors, pointed out that annual goal setting, budgeting, taxes, and school schedules often dominate the rest of the year. Summer, he said, is a great time to step back from constant client demands and invest in strengthening the business. That might include learning new areas of planning tools, refining client segmentation strategies, developing meeting workflows, or diving into artificial intelligence. “Focus on the root causes of pain in your processes or tech stack and find opportunities to align with your core values and priorities,” Sung advised.
For advisors looking to stay ahead of the competition, the summer months offer a unique window to implement changes that can pay dividends later. As Sung noted, starting now allows advisors to think about enhancements, develop and test solutions, and implement them in time for the rush of day-to-day business come fall. This proactive approach is echoed by recent industry trends, such as the surge in client demand for news-proof portfolios amid persistent volatility, which requires advisors to be well-prepared.
Similarly, the summer lull can be used to address complex client needs, such as preventing cash crunches among ultra-rich clients, as detailed in strategies shared by wealth managers. By using this time to refine processes and deepen expertise, advisors can better serve their clients when the pace quickens.
In addition to technical skills, advisors are also focusing on operational workflows. Sung emphasized the importance of identifying root causes of pain in processes or tech stacks and aligning improvements with core values. This strategic use of summer downtime can lead to more efficient practices and better client outcomes, especially as the industry faces ongoing challenges like market volatility and regulatory changes.
Ultimately, the summer months are not just a break but a strategic opportunity. As Perry concluded, “By using the summer months intentionally, we’re able to enter Q4 more prepared, more organized, and more proactive — which ultimately creates a better experience for clients during one of the busiest times of the year.”
