Advisors may be quite content in their professional lives—but that doesn’t mean they don’t have wishes and dreams.
Our most recent FlexShares Advisory Wellness Study confirmed that, not unlike in past years, advisors are satisfied with their careers and their work-life balance—to the tune of an 85% satisfaction grade.
But we all like to imagine what we might do if we had all the time and resources. So as part of our study, we asked advisors what they most wished they had the time for and what they most looked forward to after the COVID-19 pandemic ends.
- Advisors are satisfied with their career
- Work-life balance is not an issue for most advisors
- Daydreaming sparks creativity for those engaged in work
Tops on both lists: travel. Almost 29% of advisors said they wished they had more time for travel and more than one-third (35%) said travel was the one thing they most looked forward to doing once the pandemic lifted. Given the quarantining, restrictions on gatherings and other pandemic-induced constraints, it’s probably no surprise that there is pent-up demand for getting away. (The fact that the survey was conducted as winter set late last year probably also fueled wishes to get away to a warm locale.)
Akin to this itch to travel once the pandemic is over, 15% of advisors said they most anticipate visiting public venues such as sporting events, restaurants and entertainment facilities. A similar percentage (14%) can’t wait to do business in person again.
Assuming the pandemic was no barrier to wishes, other to-do’s on advisors’ wish lists are:
- spending more time with family and friends (16%)
- having more time for hobbies and sports (15%)
- simple relaxation (9%)
- and reading (7%)
Perhaps because they’re fairly content with things just as they are, about 5% of advisors said they didn’t have any desire for more time.
While it’s interesting to see how our own dreams measure up to others’, it’s also worthy to note that the very act of daydreaming can have bottom-line value for advisors.
Daydreaming carries significant creative benefits, especially for those who identify with their profession and care for the work they do.
As reported in Neuroscience News & Research, researchers at Washington University in St. Louis found that daydreaming carries significant creative benefits, especially for those who identify with their profession and care for the work they do. When people do work that imposes cognitive demands and provides enjoyment and fulfillment, researchers found that daydreams can spark imaginative thoughts around a job’s tasks and problems. While daydreaming can reduce overall performance among those who aren’t engaged in their work, for those who like what they do and care about it—which is the case for most advisors, according to our survey—the occasional daydream can provide a creative boost.
So the next time you’re working on a client’s financial plan and your thoughts turn to dozing in a hammock on a beach in Barbados, don’t be too hard on yourself—the plan you’re working on may turn out better than you anticipated.