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Boundaries — they’re what separate “thriving" advisors from advisors who are “unwell,” which was my key takeaway from the Kitces 2025 Advisor Wellbeing Study. The study found that nearly 23% of advisors last year were thriving, up from 14% two years ago, while about 13% of them were unwell last year, down from nearly 20% in 2023.
A composite sketch of thriving advisors shows they are likely to:
- Be at least 20 years into their career
- Have at least some flexibility to select their tech stack
- Work at firms with higher revenue per advisor and per team, meaning the advisors themselves take home significantly more money
- Be career changers
- Be supported by at least one other staff person (or receive some level of assistance)
- Work at a firm that actively integrates its mission and values into the culture
- Control their own schedule
- Serve between 40 and 100 clients, depending on their complexity
This could leave advisors who are young, fresh out of school, or otherwise not reflected in this list to wonder what they can do to achieve a higher state of wellness. However, all hope is not lost if they do not meet most, if not all, of these criteria. Many of these thriving advisor characteristics relate to freedom, flexibility, and setting boundaries to achieve them.
Knowing Yourself & Your Boundaries
When looking at this particular study, it’s clear that advisors who are thriving know themselves well, including what they want to get out of life and how to create boundaries to achieve that.
Boundaries are personal guidelines or rules we set for ourselves that show up in how we interact with people and in our daily routines. Those boundaries include things like what kind of work we do, how long we spend doing certain types of work, how many clients we will work with, and the types of clients we will work with. Boundaries help us control the things that are in our control. They don't let us control what we cannot or shouldn't control.
When it comes to people’s personalities, we know that there are some who just irk us, and no amount of money will make working with them worthwhile. Those who relish a specific sport, hobby, etc. and make time for it within their daily life typically feel more fulfilled than those who either haven’t found a passion outside of the office or do not enable it to flourish. Thus, advisors who are clearly in tune with themselves can select clients who best suit them and expand that clientele to increase their earnings without sacrificing their happiness.
The strongest differentiator, according to the study, was that thriving advisors were 10% more likely to want to work with people. That may indicate why investment-oriented advisors are less fulfilled, as they prefer to perform research and trade rather than be client-facing.
Create a Work Environment That Suits You
Recent Kitces’ research found no meaningful difference in wellness between advisors who worked in a traditional office versus at home or elsewhere. What did matter was alignment: Advisors thrived when they had the flexibility to work in an environment that matched their personal preferences.
This preference for location and flexibility was also linked to years of client-facing experience. It may reflect generational differences, but it could also tie to life stage — advisors earlier in their careers may be starting or raising families, or they may be career changers seeking better work-life integration. Regardless, the desire for flexible work arrangements continues to rise across the profession.
For firm leaders, this is a clear signal. Advisors whose work environment clashes with their preferences are significantly more likely to plan to leave their organization within five years. Firms that resist flexibility risk losing talented people to competitors who can better support how they work best.
The Kitces report ultimately shows that advisors flourish when their workplace aligns with their preferences, goals, and values. This alignment lets them show up authentically, use tools and technology that genuinely serve clients, and focus on roles that play to their strengths — whether that’s business development, client service, or specialized back-office work.
Setting Boundaries
At its core, this comes down to boundaries: Rules or guidelines that allow you to interact with your daily life and the people in it. Boundaries are the ability to shape your work life so you can find meaning in what you do and live the life you want outside of it.
To create a thriving professional life, clarify your purpose. Take time to articulate what you want most from life. What gives you a sense of meaning? When your purpose is clear, it becomes much easier to identify the boundaries needed to protect it.
Prioritize three boundaries you want to set. Then, pick just one to implement at a time. Choose things you can realistically influence that support your purpose. For example, if being a present parent is central, one boundary might be: I stop working by 5:30 p.m. most days — whether I’m in the office or remote.
Make your boundaries specific, realistic, and support them with systems. Discuss key boundaries with your supervisor or team. Then put simple systems in place (calendar blocks, communication norms, delegation routines, etc.) so you can follow through consistently. Focusing on a small number of well-chosen rules is far more effective than trying to overhaul everything at once.
The right environment isn’t about working less — it’s about working in a way that lets you thrive sustainably. Focus on your preferences and what you want to help you align your work environment with your current work situation.
Kristy Archuleta, PhD is a professor, Betsy Barnard Sages Professorship in Financial Therapy and Financial Planning, at the University of Georgia.
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Advisor Perspectives welcomes guest contributions. The views presented here do not necessarily represent those of Advisor Perspectives.
