Don’t Meet With Your Financial Advisor on These Days of the Week
Written by
Jennifer Taylor
Edited by
Amber Barkley
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Your financial advisor should help set you up for success, but they’re also human. This means scheduling meetings on certain days of the week probably isn’t in your best interest. Specifically: Mondays and Fridays. According to financial advisors themselves, meeting with them at the start or end of the week should be avoided, unless there’s no way around it.
Hopefully, these aren’t your preferred days for financial meetings anyway, but if so, you may want to reconsider. Keep reading to find out why Monday and Friday tend to be financial advisors’ least favorite days to meet.
Next, find out which questions you should be asking a financial advisor before you hire them.
Why Mondays and Fridays Aren’t Ideal
Filip Telibasa, a certified financial planner (CFP) and owner at Benzina Wealth, said Mondays typically aren’t a good day for client meetings for a variety of reasons.
“Clients are sluggish from the weekend and advisors are catching up on emails, as well as planning the rest of their week,” he said. “All attendees are essentially focused on something else, other than the meeting being held.”
He said Friday afternoons also aren’t ideal, as most people are checked out and ready for the weekend. “Clients absorb less material from the meeting, and it isn’t as productive. Just like a customer that walks into an establishment five minutes before closing, nobody likes a late meeting on a Friday.”
By Friday, Sarah Maitre, a chartered financial analyst (CFA), financial planner and founder at Camriel Advisors, said financial advisors often tend to be tired from the week and ready to check out for the weekend.
“I think most financial advisors would agree that Fridays are not the best days for client meetings,” she said. “We’re human, after all, and as such, we start to feel the pull of the weekend and can be less sharp than we may be earlier in the week.”
She echoed the sentiment that starting the week with a client meeting isn’t typically preferred. “Monday mornings can also be a bit tough, as we are just coming back from the weekend and may be dealing with pressing matters that popped up over the weekend.”
Other Occasions To Avoid Scheduling Meetings
Beyond Mondays and Fridays, days with market volatility can also be tough for client meetings, Maitre said.
“If there is a big market move, it’s likely we are spending time to understand what is going on and what changes, if any, need to be made to your portfolio,” she said. “We want to make sure every client is positioned as well as possible to either weather the storm or capitalize on new information that is getting priced into stocks.”
For financial advisors with children, she also said school holidays can be challenging for client meetings.
“Like our clients, many of us are parents and being out of our routine can be difficult,” she said. “We may also plan vacations while our children are out of school to enjoy some quality family time.”
The Best Time To Schedule a Meeting
Generally speaking, the bulk of the workweek is usually fair game for client meetings, Maitre said. “For the best experience, I’d recommend scheduling meetings with your advisor Tuesday through Thursday, when we’re fully settled into the workweek, focused and best able to serve your needs.”
Of course, every financial advisor is different, so when in doubt, simply ask yours what days they prefer to meet with clients.
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Sources
- Filip Telibasa, Benzina Wealth
- Sarah Maitre, Camriel Advisors
