Most people assume that financial companies spend more time focused on trading online to oversimplify the role of financial advisors, and that advisors spend very little time overall with client files. Despite this assumption, your financial advisor probably spends more time on client-related activities than you think. Here is a basic breakdown of what a financial advisor’s week usually looks like:
- Financial advisors spend approximately 8.8 hours a week meeting with their current clients (which takes up the largest portion of their time on a weekly basis). Another 5.3 hours of time every week is spent preparing for these meetings.
- An additional 6.6 hours every week is spent on supporting financial planning, investment, and other analytical activities to answer client questions via phone or email or in advance of face-to-face meetings. These activities also create an additional 6 hours per week of follow-through, totaling 26.7 hours every week on direct client activities.
- On top of meeting with and assisting clients, the average financial advisor spends about 9 hours a week securing new clients. Five of these hours are devoted to marketing and related business development activities, while 4 of these hours are used to meet with prospective clients.
- In addition to these client-related activities, most financial advisors spend approximately 5.5 hours per week on management investments, 4.2 hours on basic administrative tasks, 4.7 hours on management and other tasks, and 3.2 hours on professional development.
All of these tasks add up to 53 total work hours per week. Since so many of these hours are dedicated to helping clients, answering client questions, and researching for client information purposes, you can rest assured your financial advisor works hard to bring you solid financial advice that benefits your future. Contact us at BlueRock Wealth Management today for more information or assistance.