Is Maternity Leave Possible For You As A Financial Advisor?

Taking an extended leave as a financial advisor might seem like the very last thing you want to do. But, for something as important as beginning or growing your family, it’s important you learn to set aside your worries and bask in that extended leave.

Here at Consolidated Planning, our advisors and their teams have developed processes to ensure that women who desire to have a family AND build their practice can do so without missing a beat.

In this article we’ll share with you how you can work to create the necessary infrastructure for your absence to ensure you can mitigate as much risk as possible to your practice.

 

How To Create The Necessary Infrastructure For Maternity Leave

One significant concern that arises is whether taking maternity leave is feasible without risking the stability of the practice you’ve built. More namely, your clients.

What will happen to them?

Will they find a new advisor?

Will you have a practice to come back to?

 

With careful planning and foresight, it is indeed possible to navigate maternity leave successfully while maintaining your financial advisory practice.

 

Tip #1: Identifying The Right Advisors To Split Your Business With

One of the most crucial steps in preparing for maternity leave is finding suitable advisors to collaborate with during your absence. This advisor is likely someone you already have a good relationship with – whether personally or professionally.

Just because you may own your practice, doesn’t mean it can’t be mutually beneficial to do joint work, if you will, when parties experience periods of leave.

Collaborating with other advisors not only provides continuity for your clients but also offers you peace of mind knowing that your business is in capable hands. Establishing clear terms of the partnership, including revenue sharing arrangements is of utmost importance for a smooth transition. This is what the process of splitting your business might look like:

• Scaffolding a team of support around you
• Scheduling client meetings together
• Establish workflow processes
• Give access to all necessary client data

While there are a lot of moving parts to keep your pipeline moving forward, the good news is, you know your timeline. Preparing as far in advance is most ideal for the best outcomes – at least three months but six months preparation is even better.

This gives adequate time for the trusted advisor(s) to get a handle on your client base and even start to develop some level of rapport before your maternity leave.

 

Tip #2: Creating A Client Communication Plan

If effective communication is paramount when you’re running your practice, you better believe it’s paramount when discussing your upcoming maternity leave. Don’t downplay your absence here.

Be transparent about your plans and expected timeline of leave and reassure them that their financial needs will continue to be met in your absence. Because you will be hosting joint meetings prior to your absence (3-6 months in advance), your clients will likely have a chance to meet the advisor(s) who will be handling their accounts.

Crafting a detailed client communication plan will be essential in keeping your interim advisor(s) in the loop of expected communication styles but will also better prepare your clients for what’s to come. Consider outlining how and when you will communicate updates, such as introducing the interim advisor(s), setting expectations for response times, and arranging periodic check-ins during your leave. 

While varying approaches are to be expected, creating and carrying out an expected communication plan allows for the least amount of variance in your absence. Utilize various communication channels, including email, phone calls, and virtual meetings, to accommodate different preferences and ensure clients feel supported throughout the transition. You really can’t over communicate here so feel free to send reminders to your clients.

 

Tip #3: Establishing And Keeping Boundaries

Maintaining a healthy work-life balance is essential, especially during maternity leave. Set clear boundaries between your personal and professional life to prioritize self-care and bonding with your newborn. Establish realistic expectations for your availability and commitments during this time, both with clients and colleagues.

If you feel confident in the advisor you elected to split your business with you (which you should), ensure you have appropriately delegated your tasks and responsibilities, trusting in their abilities to manage the day-to-day operations of your practice. Resist the urge to micromanage or intervene unnecessarily, allowing yourself the opportunity to fully disconnect – as much as you fully can, during your leave.

With this being said, we know you’re still a business owner and will likely want to check in or know if there is an urgent situation, especially on those outstanding tasks or your best clients, but this is a slippery slope. Tread lightly.

To provide yourself further peace of mind, consider implementing solutions and automation tools that allow you to streamline workflows and minimize disruptions to your practice while you’re away. Leverage digital platforms for client communication, document management, and scheduling to maintain efficiency and accessibility.

 

Does Your Firm Allow You To Effectively Take Maternity Leave As A Financial Advisor?

Even with the right infrastructure for your maternity leave, there is no replacement for the relationships and client service model that you’ve built for your clients.

But, with that said, there also aren’t many career opportunities that even allow you to take such an extended time off (3 to 6 months) while maintaining your client base and your income.

While there may be challenges associated with taking maternity leave as a financial advisor, proper planning, communication, and support from your firm and colleagues can help mitigate the risks to your business. To find a firm that supports your desire to take extended leave, and maintain your practice building efforts, talk with a team member at Consolidated Planning.

 

Exp. 3/2026

2024-171518