Many clients and prospects are focused on vacations, weekend getaways and cookouts during the summer months rather than on financial planning, making it difficult for advisors to prospect new business. Yet, the slow months of summer can be an important time period for advisors to conduct an internal look at their businesses and possibly increase the efficiency of their operations and marketing efforts.

Some firms prefer to recruit talent from other industries to gain a fresh perspective on pitching their investment products or financial planning services. Others prefer seasoned financial veterans who have extensive experience with crafting messages for investors. Which approach is better when hiring a communications staffer, such as graphic artists and writers?

Summertime is fun time, with vacations, barbecues and late sunsets that can make weekday evenings almost feel like weekends. Yet, the dog days of summer are also a time for many financial advisors to work closely with interns, which can be challenging.

Independent registered investment advisors believe women, Gen X, and Gen Y will be driving factors behind their practices in five year, reports Financial Advisor.