Financial advisors often anticipate that their clients will take the summer off or at the very least not be terribly concerned about their investments during this season. However, they are wrong. Besides potentially very active markets, there is also a plethora of major life events unfolding each summer, all of which create opportunities for caring advisors to lead with timely, personal and impactful advice.
Here are three particular life events that over-index in the summer, which provide golden opportunities for you to create client value while also capturing money in motion.
Wedding Bells
Wedding bells are a pleasantly prominent—and loud—feature of the summer months. There are over 2 million weddings each year in the U.S., and according to Brides; almost 60% of them occur in the June to October timeframe. Tying the knot represents a major life event with many implications, including financial ones. Hopefully, newlyweds will have discussed their financial goals, dreams, histories and behaviors with their financial advisor, if they have one.
The newly formed union may involve merging assets, setting up joint accounts, adjusting tax filing, revising insurance policies and establishing new investment strategies based on the couple’s shared financial goals. This period may also be the right time to discuss longer-term financial planning, such as buying a house, planning for children, retirement savings and estate planning. Caring financial advisors guide their coupled clients through these complex decisions, helping them create a financial plan that is not just about immediate wedding-related expenses but also about establishing a strong foundation for their shared financial future.
For the advisors looking to bond better with their engaged or newly married clients, The Knot’s 2025 Wedding Study found that 27% of couples met online or via dating apps, and the favorite first dance song is Elvis’ “Can’t Help Falling in Love.”
Birthday Boom
Each year, about 3.6 million babies are born in the U.S.; almost 10,000 on average per day. However, the distribution of birthdates is not even: August is the month with the most birthdates, and, according to Parents, nine of the top 10 most common birthdates fall in September. This pattern inevitably results in numerous age-based milestones happening over the summer.
Not only can financial advisors assist their expecting couples with planning for a newborn child from a financial point of view (including, for example, reviewing their insurance as well as trust and estate updates), but they can also advise their adult clients and prospects celebrating their birthday this summer on key age-based milestones that trigger distinct wealth management risks or opportunities.
For example, when their clients turn 50, they will encourage them to make catch-up contributions in their retirement account, so that they maximize their tax-advantaged savings and investing rate. And at age 62, they will advise on when to best start taking their hard-earned Social Security benefits. Medicare at age 65 and Qualified Charitable Distributions at age 70.5 are further important topics for older clients.
On the other end of the age spectrum, financial advisors caring about the entire family unit will advise the 14-year-old (grand-)kids on how to secure “Working Papers” when they turn 14, and then how to put the first legally earned income into Custodial IRA accounts under the kids’ name so they can appreciate and benefit from the power of tax-deferred compounding for decades to come.
Real Estate Rush
Each year around 5 million homes change hands, resulting in 10 million buyers and sellers requiring financial advice in what is often the single largest transaction of their lives. And as it turns out, summer is the hot season for real estate transactions. As per the National Association of Realtors, June is the peak month for home sales, and the May to August timeframe accounts for 40% of all annual transactions.
The sale or purchase of a home encompasses wider financial implications such as lending, banking taxes, estate planning and retirement considerations. From navigating suitable mortgage options to handling closing costs, insurance needs, and potential renovation expenses, clients often find themselves navigating a web of decisions. For sellers, the considerations extend to tax implications and strategies for the reinvestment of sale proceeds. For first-time buyers or sellers, these challenges can be particularly daunting.
Advisors provide personalized wealth management guidance, aiding clients in understanding and mitigating potential risks such as over-leveraging, unexpected costs and market fluctuations. Moreover, these real estate decisions frequently present substantial opportunities. A home purchase might prompt a reassessment of a client’s overall financial plan, ensuring that mortgage payments align with long-term financial goals. Meanwhile, selling a home could lead to a significant influx of capital, providing opportunities for strategic reinvestment. Advisors help clients incorporate these major decisions into their overall wealth management strategy, ensuring that their real estate transactions align with their long-term goals.
Life does not take a break over the summer. Life’s milestones don’t take a vacation, and neither does the demand for sound financial advice. The summer ushers in not only warmer weather and longer days, but also a plethora of engagement opportunities for proactive client engagement. Weddings, birthdays, real estate transactions—the summer is ripe with these and many other significant milestones, each carrying profound wealth management implications. These moments that matter serve as reminders for advisors to seize opportunities to guide clients towards informed decisions, regardless of the season.
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