4 Things Financial Advisors Can do to Manage Time Efficiently

Having control over your time is a never-ending struggle. Finishing work for one client, but then immediately realizing you’re overdue on the next one. You’re not alone, though. Research shows that only 13% of financial advisors and RIAs feel that they have control over their time. It’s time to make some changes so you can manage time efficiently.

When you take look at the overview of your day, do you find yourself being more reactive, or more proactive? Reactivity vs. proactivity is ultimately what determines the competency of your time management skills. If you find yourself leaning more toward being reactive throughout your day, then it’s time to fine-tune your time management.

Here are 4 ways to help you manage your time efficiently:

Block out your time

Delegating your priorities as high vs. low income-generating activities is a good start to managing your time efficiently. Block out specific periods of time throughout your workday, or work week, specifically for each task you need to get done, starting with high income-generating tasks. This eliminates room for reactivity and will keep you on track to maintain high levels of productivity. These time periods should be of minimal to zero interruption. Interruption allows room for wasted time.

Focus on the things you can control

Even though you could block out every second of your time, there will always be something that comes up that is out of your control. When something out of your control comes up, you can choose to either let that control your day, or you can choose to focus on what you can control. Find a time during the day that you are most efficient, such as in the morning, or immediately after lunch. Take this time to do your highest priority tasks. Having a game plan for accomplishing your highest priority tasks allows you to have more control over your day, and opens up room for the uncontrollable.

Monitor your activities

At the end of the day, you may not even remember what you spent all of your time working on. Most of the time, by the end of the workday, our heads are a blur. Track your daily activities for a week to get a good idea of what you’re currently devoting your time towards. You may be surprised at how much time you are spending on inefficient tasks. Finding the inefficiencies in your day-to-day activities will allow you to cut them out, or spend a significantly less amount of time on them, opening up room for higher priority tasks to fall in.

Let Benjamin help

Benjamin is a tool that’s changing the way RIAs and financial advisors prioritize their communication and time with clients and internal team members. Increase your capacity to bring on new clients, nurture your current clients, and improve your communication and client engagement. Ultimately, Benjamin is here to help you free up some time and utilize AI to make you and your business more efficient.

The underlying theme for best time management practices is to take a good hard look at what you are currently doing. By having a clear understanding of what you are doing that is and isn’t working, you can begin to make changes. While it may take a while to make the jump from being inefficient to efficient with your time, even the smallest adjustment can make a big difference.

Need some help with managing your time wisely? Want to get to know Benjamin? Contact us here to learn more, and we’ll get you started with a free demo.