How much vacation time should you take each year?

While needs vary from person to person, my experience is that most brokers should take four or more weeks per year - preferably at least one week a quarter. The reason?

You need it for your health and your business!

Studies have shown that stockbrokers have one of the most highly pressured jobs in the U.S. Much of what you do involves salesmanship, with its attendant successes, anxiety - producing rejections and worries about where your next sale will come from. You also must process highly complex information relating to new products and market fluctuations, and you often need to make high-speed decisions based on an overload of information.

Though some pressures can be modified according to the type of business you emphasize (transactions versus fee-based planning, for example), a "Type A" personality is almost a requirement of the job. And Type A's, as we know, need time off to relieve the pressure-cooker effects on your mind and body.

If you organize things before you take off to ensure that your clients will be in good hands with a colleague or sales assistant, a number of beneficial things can happen. First and most important, you can start to relax. If you go with family or friends, those relationships will benefit, too.

If you organize things before you take off to ensure that your clients will be in good hands with a colleague or sales assistant, a number of beneficial things can happen. First and most important, you can start to relax. If you go with family or friends, those relationships will benefit, too.

Take a look at an excerpt from a letter I recently received from a client that I think captures the essence of what rest and recuperation can do.

"I'm rested and have had an opportunity to clearly think about the strategy I'm entertaining for the new curve in my career. As the sand flowed through my toes, as I was enjoying a 750-page novel, I found myself with enough non-distracted time to think through and decide whether or not I was comfortable with the changes I want to make. Doing this in the fast-paced, everyday river of tactical decisions does not adequately allow proper review of strategic decisions which require a different thought process. . .What a great break!"

Practical Considerations

My prescription for taking a month of vacation every year comes with caveats. First, it is a general guide, and I prefer to make specific suggestions that take into account individual situations and needs.

Also, my advice does not apply to rookies, most of whom cannot afford to take so much time off without pay. As with any new business venture or career opportunity, in your first four or five years as a broker, you are paying your dues. I would suggest that rookies take advantage of down periods (Thanksgiving, Christmas, July 4th) by adding a vacation day, leaving the office early during the workweek, really savoring your free time. By your third years, perhaps, you can plan two weeks of vacation, gradually adding time as you build your book of business.

For all brokers, preparing for a vacation can be as important as taking it. You must consider how things will run while you're away. For example, consider how your clients will react, who will service your accounts, who will promote sales ideas of the moment. If you have a sales assistant, how much can she or hedo without running into regulatory problems? Going through this checklist can be a valuable exercise and prompt you to take actions to correct any administrative and sales deficiencies The leverage you'll benefit from this is significant!

I also am an advocate of focusing on managing client's assets rather than on transactions. In the context of vacations, the fee-based activities make it much easier for you to leave the office without fears of losing valuable commissions. If most of your clients are in managed programs, they also will not need as much care and handling while you are away.

Some inexperienced brokers have asked me about their manager's reaction to taking time off. To a large extent, their reaction should not be a concern. If you have been a diligent trainee or are running a successful book and have put in place appropriate client support, your manager knows you deserve to take the time to take care of yourself and have balance in your life. He or she has been where you are, and knows that time off benefits you, your clients and the firm.

Let me leave you with an account of one of my earliest consulting experiences. I was introduced to a veteran broker who had slipped backward after many years as a superior producer. With some skepticism, he tried my suggestion to play golf two times a week and tennis on Saturday mornings. When his regular tennis partner failed to show up one day, the pro set up the broker with another player.

After a few sets, they sat down for some small-talk and refreshments. In response to a question, my client said he handled investments for wealthy clients. "That's interesting," replied the other man. "I just sold my company and I'm not quite sure what to do with my new found wealth."

The payoff? My client was given $10 million to manage. Not bad day for a day on the courts, doing what he enjoyed.

It's not quite a vacation story, but it should inspire you to embrace yourtime away from the office and clear your mind of everyday concerns.

*Reprint From On Wall Street*