Summer is a time when Hickey and her team put an intentional focus on that idea of levelling up. That takes myriad forms. Hickey will normally catch up on the latest industry trends and developments. This year she took a trip to New York to meet with analysts from JP Morgan, Goldman Sachs, and AllianceBernstein to gain some asset management insights. The whole team, she says, will pay extra attention to their continuing education in the summer months.
While her team is learning and planning, Hickey says they also field a somewhat different set of questions from clients in the summer months. When clients are taking time off in the summer, they experience something like a preview of their retirement. As they have those experiences, they may ask their advisors about different ideas related to their goals. That could include an RV or vacation home purchase, or a conversation about travel expenses.
“We don’t get calls about investments in portfolios, because we get those all year long,” Hickey says. “We get calls about all the things we’re asking them to think about, their goals, dreams, and desires.”
That’s not to say that day to day topics don’t arise as well. Hickey says that this year, with the cost of living still rising, many of her clients are coming to her already with cash flow questions. They may be asking about how they can maintain cash flow in their portfolios or ask if they are saving enough now to be ready for retirement. Sometimes it’s simply a question about affording a summer project, like a new roof or new driveway for the house.
Hickey is also seeing an uptick in next generation inquiries this summer. More young millennials and even members of Gen Z are coming to her, largely with questions around home purchasing. She says that the new First Home Saving Account (FHSA) has spurred a lot of that interest.
