How advisers can use technology to avoid burnout

The time you free up can be spent in ways other than just adding on more work.
AUG 04, 2016
Technology has a way of making us work harder. We're reachable 24 hours a day and can handle multiple projects at a time. Yet, our human brains and bodies are not made to run nonstop at full speed. I've learned a few tricks for creatively using communication technology to give myself the gift of time. I don't consider it slacking off. In my opinion, I'm making the best of what's available to me. We've all heard that we shouldn't interrupt our work by immediately answering the phone or checking new emails as they arrive. To avoid this, simply set your phone to "do not disturb" and turn off the email notification pop-ups. Then you can attack these communications on your own schedule — in between projects. This is Time Management 101. For those willing, I've found that you can take these ideas a step further. Our voicemail messages all end the same way: "Please leave your message at the tone, and I will return your call as soon as possible." This results in a whole lot of messages to review and return. In our phone system, the caller can enter another extension number to go directly to someone else rather than leave a message. I've decided to change my voicemail ending to "If you'd like to talk to a human rather than leave a message, please dial 200 and Sylvia will get you to the right person." This option is actually preferred by clients, and it reduces the number of calls I need to return. Email overload requires multiple tactics. To provide an acknowledgement right away without actually viewing the email right away, set up an auto reply each day. This is different than an out of office message. It is an automatic email delivered to the sender upon receipt. My message says something like "I'm in the middle of updating portfolios. I promise to get back to you before the end of the day." Changing the message every day makes this technique work well. I also believe in taking some type of action whenever I first read an email. The action can be one of the following: • Route the email to another employee to handle. • Delete if it is not needed any more. • Save to an appropriate folder if you will need to refer to it sometime in the future. • Unsubscribe and delete. • Respond. • Respond with a delay note such as, "You've brought up a great question. This will require a little research, and I should be able to answer you by the end of the week." As a result of these tactics, the only items that appear in my inbox are unread emails or emails that I have delayed. The time you free up can be spent in ways other than just adding on more work. Consider taking a walk or fitting in a real workout. Go out to lunch. Spend some time each day unplugged and doing something regenerative. In the long run, this gives you much needed breaks to enable continued high quality performance and helps to avoid burnout. Sheryl Rowling is head of rebalancing solutions at Morningstar Inc. and principal at Rowling & Associates. She considers herself a non-techie user of technology.

Latest News

Raymond James, Osaic laud new bank partnerships
Raymond James, Osaic laud new bank partnerships

A Texas-based bank selects Raymond James for a $605 million program, while an OSJ with Osaic lures a storied institution in Ohio from LPL.

Bessent backpedals after blowback on 'privatizing Social Security' comments
Bessent backpedals after blowback on 'privatizing Social Security' comments

The Treasury Secretary's suggestion that Trump Savings Accounts could be used as a "backdoor" drew sharp criticisms from AARP and Democratic lawmakers.

Alternative investment winners and losers in wake of OBBBA
Alternative investment winners and losers in wake of OBBBA

Changes in legislation or additional laws historically have created opportunities for the alternative investment marketplace to expand.

Financial advisors often see clients seeking to retire early; Here's what they tell them
Financial advisors often see clients seeking to retire early; Here's what they tell them

Wealth managers highlight strategies for clients trying to retire before 65 without running out of money.

Robinhood beats Q2 profit estimates as business goes beyond YOLO trading
Robinhood beats Q2 profit estimates as business goes beyond YOLO trading

Shares of the online brokerage jumped as it reported a surge in trading, counting crypto transactions, though analysts remained largely unmoved.

SPONSORED How advisors can build for high-net-worth complexity

Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.

SPONSORED RILAs bring stability, growth during volatile markets

Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.