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As summer fades into the crisp embrace of fall—hello, cozy cardigans!—the seasonal shift brings more than just a change in weather. For financial advisors, this is a critical time to reassess strategies, connect with clients, and prepare for the year-end. The transition from summer’s laid-back vibe to fall’s focus on planning mirrors the rhythm of financial advising. It’s a time to harvest (see what I did there) the efforts of the past months, review portfolios, and ensure both you and your clients are poised for success. You can also leverage this seasonal transition by fine-tuning marketing strategies to capitalize on fall’s trends and gear up for end-of-year planning.
Client Connection
The vacations are winding down, kids are going back to school, and routines are falling (te he, I did it again) into place. This is an ideal time to reach out and connect with your clients. Offer seasonal financial reviews, portfolio updates, or end-of-year planning strategies to keep everyone on track.
This is also a good time to review and update your client testimonials and case studies. Positive word of mouth is a highly effective marketing tool because it builds trust and credibility with potential clients. This is particularly important as the year draws to a close and people begin reflecting on their financial goals and looking for new advisors for the upcoming year.
This is a prime opportunity to attract potential new clients. Consider hosting a casual event or educational seminars/webinars. Hosting a relaxed client gathering to strengthen relationships in an informal setting, can potentially set the stage for more productive meetings later. Not to mention you can capitalize on the increased interest in financial planning that comes with the approaching year-end by offering seminars on topics such as tax-saving strategies, retirement planning, and investment opportunities. Promote events through email newsletters, social media, and your website to appeal to both existing clients and prospects.
Tax and Financial Planning
Taxes
Ya know what they say: “In this world, nothing can be said to be certain, except death and taxes.” Hmm, maybe I shouldn’t use the word death in a blog… but they DO say that.
Fall is the perfect time to team up with your clients and give their tax situation a little TLC before the year-end rush. With important deadlines approaching, you should work closely with clients to optimize their tax situation. Clients might benefit from tax-loss harvesting, charitable donations, or additional contributions to retirement accounts before December deadlines.
- Tax-Loss Harvesting: (harvesting, it’s like it’s meant to be) This strategy allows individuals to sell investments that are not doing so hot, replace them with reasonably similar investments, and use those losses to offset gains - think of it like financial “spring cleaning,” but ya know, in the fall. The end result is that less of your money goes to taxes and more stays put in investments. Fall is an ideal time to review portfolios, identify opportunities for tax-loss harvesting, and make adjustments while there’s still time before year-end.
- Charitable Donations: As the “season of giving” approaches, clients may be feeling generous. You can help clients maximize their tax deductions by making donations to qualified charities, possibly using appreciated assets like stocks, which offer both a tax deduction and the avoidance of capital gains taxes. Win!
- Retirement Contributions: Fall is a great time to remind clients to maximize contributions to tax-advantaged retirement accounts like 401(k)s and IRAs. These contributions can reduce taxable income, and you can help ensure clients meet the contribution limits before the December 31 deadline for most retirement plans.
Focusing on these strategies in the fall ensures that clients are not only prepared for the end-of-year tax rush but also are set up to optimize their overall financial plans heading into the new year. New Year, New Me Tax Strategy.
Finances
Fall is all about setting your clients up for success: budget reviews, updating retirement plans, and preparing for possible, no - potential, no - probable holiday overspending.
Fall brings a lot of changes and sometimes, a lot of expenses - tuition, after-school activities, home improvements, decorating for Halloween (oh, wait, that’s just me…), wardrobe adjustments - just to name a few. Take a look back at the previous year, and the year so far, what worked and what didn’t; what will be changing this year, new additions, big trips plans, new job, etc. It’s a great time to tweak the budget to align with seasonal expenses, for example, creating a holiday spending plan or squirreling away some cash each week now to take the sting out of December splurges.
While I generally embrace autumn’s arrival, September and October, when the traders are back at their desks, are traditionally volatile months for the market. There’s pros and cons to everything I guess. But that means your clients might need a slight reality check when it comes to their portfolios. First, money is an emotional subject as it is, and market volatility can cause uneasiness, so before you bombard your clients with strategies and dollar signs, take a minute to reach out and see how they are. It’s a quick way to keep the client-advisor relationship strong. Now, hoping that your client is handling any financial stress with some dignity and grace, get into the nitty gritty - risk assessment, is the portfolio on track, rebalancing parts of the portfolio that might have grown more or less than others, and maybe even snagging some quality investments at a discount - volatility isn’t always a bad thing.
Spice up Your Marketing
Get it… spice up your marketing.
Look, you don’t have to be waiting in line for your first pumpkin spice of the year to appreciate the autumn spirit, so don’t be afraid to infuse some fall flavor into your marketing strategy. Get creative with your content by weaving in seasonal themes, and craft blog posts and social media updates that resonate with the fall vibe:
"Raking in the Savings: Your Autumn Financial Checklist"
"Fall into Better Budgeting: Prepping Your Finances for the Holiday Season"
"Squirreling Away for Winter: Smart Investing Strategies for Q4"
These catchy titles not only capture attention but also make financial advice more digestible and timely for your clients.
And don't forget to give your marketing materials an autumnal makeover (stay on brand, of course). Swap out those summer beach scenes for cozy fall imagery. Think golden leaves, cozy, soft sweaters, and maybe even a tasteful pumpkin or two. This visual refresh can make your content more engaging and seasonally relevant. By aligning your marketing efforts with the changing seasons and prioritizing value, you can effortlessly draw in and connect with clients during this transitional time. Embrace the autumn vibes, and let your content reflect the warmth and richness of the season, making it easier for clients to relate and engage with your offerings. It's all about creating that perfect blend of relevance and connection!
That’s Fall, Folks
You’re probably sick of the fall puns by now I’ll leaf you with this… I’m sorry, I can’t help it!!
Related: Mastering Canva: Essential Tips and Tricks for Success
Sources:
How to cut investment taxes
5 tax planning actions to take before year-end
Tax-Saving Moves You Can Make Before Year-End
How to Talk to Clients about Market Volatility
How the stock market behaves during the holiday season
Increasing Financial Planning Efficiency With A Systematized Annual Process