As a financial advisor there's a lot of things I can help people with. Investment strategies, retirement planning, being financial independent and feeling more confident in their financial future - these are the types of things most people would want to achieve in life.
So when I tell people that I focus on helping those mainly in the Pharmaceutical industry the question I often get is - WHY?
Why focus on working with just one group of people when there are so many that need help?
And of all the people to focus on why the Pharma industry of all things?
The answer to that can be explained in a few areas.
Pharma Can Have More
The Pharma industry tends to be a very benefit heavy industry.
What I mean by this is that a lot of times you have access to more investment benefits through work than the average employee at XYZ company. Stock Options, Restricted Stock Units, Stock Purchase Plans are all commonly used in the industry for example.
Each has their own tax ramifications and rules, and the benefits for each can vary from company to company even within the industry. As great as these benefits are they can be confusing and it can be difficult know how they work or what you should be doing with them from one year to the next.
Pharma Can Have Less
Another great perk of the Pharmaceutical industry, along with the investment benefits, is that the compensation tends to be pretty good. Pharma employees tend to do well financially and while that's certainly a good thing it comes with it's own set of unique consequences.
When it comes to the investment world and retirement planning there are a lot of situations where you might make too much money to use certain investment accounts or get certain tax benefits that others might have available.
This can limit the options you have outside of your work.
The Power of Specialization
When looking at both of these points combined, unique work benefits and limited options outside of work, it's easy to see how the Pharmaceutical industry is it's own unique industry with it's own set of needs and challenges.
By focusing on helping those in Pharmaceuticals my goal is to give better and more tailored advice than you might receive elsewhere. The analogy I like to use most is sports doctors.
If a professional athlete gets a back injury do you think he's just going to go to the chiropractor down the street? - No way.
He's going to someone whose entire career has focused on treating athletes with that specific injury. Why?
Because he's going to have a better understanding of the injury, he's going to have a better approach to treating it, and he'll be able to give a more accurate analysis of when it's safe to get back on the field. There is a power in specialization - one that can often translate to powerful results and a better overall experience.
That's why I focus on helping Pharmaceutical employees.
Because I want to do better work for my clients. I'm not just trying to be the average advisor down the road. But don't just take my word for it, let me prove it to you.
I want to give you some of my favorite investment ideas for Pharma employees.
And I'm doing it 100% for free, with no obligations of any kind.
Check out my free guide "Investment Planning: 4 Questions Pharma Employees Should Be Asking".
It includes ideas specifically for those working in the Pharma industry (one of them even has the potential to create substantial tax savings).
It's completely free and you can get it right now here.
This is meant for educational purposes only. It should not be considered investment advice, nor does it constitute a recommendation to take a particular course of action. Please consult with a financial professional regarding your personal situation prior to making any financial related decisions. Keep in mind that one client experience may not be representative of the experience of other clients. There is no guarantee of future performance or success. (03/21)