Valentine’s Day falls on a Tuesday this year. When you shop at the supermarket, you cannot miss the huge card displays and valentines-themed food items. Years ago, a manager at my previous firm explained a good way for advisors (or the firm) to draw attention to an idea or product is to tie in with a national event that will already be getting widespread publicity. Valentine’s Day fits that description.

1. What is your client doing to celebrate? This is a nonbusiness-related reason to call. It deepens the relationship. It provides an opportunity to exchange ideas. If the upcoming holiday has gone over their heads, it’s a reminder they might find themselves in the doghouse if they forget. They might not take the holiday seriously, but if you are making an effort, they will admire the romantic side of your relationship.

2. Has your client planned a big surprise for their loved one? Did you know about 10% of couples who get engaged choose Valentine’s Day to pop the big question? This lets you know there will be major financial events on the horizon. They might be spending money on an engagement ring. According to American Express, a one-carat ring costs about $5,500 and 7% of couples spend over $10,000. This is only one expense that will need to be covered. As their financial advisor, you might be able to provide ideas on how to raise the money.

3. Are they planning a vacation to celebrate the holiday? According to TravelPulse.com, Valentines Day getaways are up 45% in 2023. This could be another example of stretching your wings post pandemic. Where are they going? When will they tell their beloved? It gives you more nonbusiness items to talk about. It also means they should be in a very good mood.

4. Are they attending a party or hosting one? That’s a new one for me, but according to Cosmopolitan magazine, it’s an idea gaining in popularity. Instead of a dinner for two, it’s a celebration with several couples. If the idea inspires them, here’s an article telling them how to do it.

5. Are they someone who waits until the last minute to make plans? There are plenty of these people around. They are also the ones who try to jump ahead of the airport security line because their flight leaves in 20 minutes. Do you have any clients with restaurants? Do you know who they can call at the last minute to get a table? If you can help, you are getting closer to becoming their “go-to” person when they have a problem.

6. Can this be an opportunity to discuss stock ideas? Think about it. They complain booking a restaurant reservation is impossible. Roses have doubled in price overnight. Airline ticket prices have jumped. This describes pent up, post pandemic demand as life gets back to normal. What companies do your firm think will benefit from pent up demand? What other companies did well during the pandemic lockdown, but might do less well as the pendulum swings the other way?

7. Is this an opportunity to discuss rising yields? Let’s stick with the complaining client who is moaning about expensive everything has become when they are planning a last-minute surprise. This is likely the same person who complained for years about how low interest rates had fallen. Is now the time to put some of that cash on the sidelines to work? Does your firm feel rates will go much higher before they start on a downward cycle?

8. Is this the client who sends Valentines cards to their young nieces and nephews? Some older people see Valentine’s Day as a way to deliver the “someone loves you” message to their very young extended family members. Often these are older people. If they hold the younger generation in high regard, have they considered setting cash aside to help with their college educations? Grandparents are allowed to set them up, but the money belongs to the grandchild once they turn 18.

9. Do not forget your better half. Life as a financial advisor can be stressful. Income can be cyclical. You are on the leading edge of international events. Clients can take out their disappointment with the stock market on you. Meanwhile, you have a supportive spouse or partner at home who is invested in your happiness and success. Do not forget to do something special for your own special someone.

Valentines Day can be a conversation starter for many reasons. You don’t know where those conversations might lead!

Bryce Sanders is president of Perceptive Business Solutions Inc. He provides HNW client acquisition training for the financial services industry. His book Captivating the Wealthy Investor is available on Amazon.