We may or may not be a good fit. Choosing a financial planner is a big decision. Personalities, philosophies, and core values should be aligned. This firm was built to work with pharmacists and their families. So if you’re a PharmD, I think we’re a good place to start. Additionally, it's our goal to continuously deliver tremendous value. Planning, implementing, results, repeat. A financial advisor can offer you all of the lip service in the world, but if they can't make a real positive impact in your financial life, are they really serving you?
In the same way that a pharmaceutical sales rep is limited in how he or she can work compared to a pharmacist, a commission-driven financial professional is, too. Advisors who are not fee-only may only have a few products available to sell. This also means that they’re mainly working for commission — and not catering to your best interest at all times.
As a pharmacist, your work is much more collaborative by nature, requiring a higher level of care and customized approach to each individual patient. The same goes for a fee-only fiduciary firm like us. We don’t sell products, but are instead paid directly by you at a flat-fee rate. With no ulterior motive or incentive, we provide custom recommendations to fit your distinct financial circumstances and goals. We also have an extensive network of professionals we trust and can lean on if your situation requires. From insurance agents to estate planners, we want to make sure your best interests are always being served.
Finally, we abide by a true fiduciary standard 100% of the time.
Being a fiduciary means that we are legally required to disclose any potential conflicts of interest and to make recommendations that are in your best interest. Given that we are a commission-free, fee-only firm, we have “fiduciary” built into our structure. We have even gone as far as signing a Fiduciary Oath.
First, we specialize in you. Given that the founder and lead planner’s wife is a pharmacist, we’re personally aware of the unique financial opportunities and challenges that this profession brings. We feel this allows us to bring greater value to your financial life compared to our competitors. Are you trying to dig out of student debt? We know all about that. Are you a mid-career PharmD with an accelerating net worth? We can help align the rewards of your career with your future goals (college planning anyone??) Or maybe you've got retirement aspirations on the horizon? We know how to guide a PharmD into retirement. We've navigated that many times.
Second, we understand all pharmacists are different. However, we think a lot of PharmD professionals share a few common traits that we enjoy working with. Having driver personalities, advanced educations, and an understanding of the importance of professional guidance (Google doesn't know everything!) are just a few traits of pharmacists we align well with.
Third, we believe that pharmacists deserve financial advice that is held to the same standard that is required of them in their profession. No, we are not doctors. Not even close! But we have achieved the same type of qualifications in the financial planning industry that you have in the PharmD profession. When it comes to your finances, you deserve more than just a broker.
Yes! PharmD Financial Planning is a location-independent firm. If you have an internet connection, we make it work. The firm has invested in technology that allows our clients to live anywhere, while still being able to receive the service and personal relationship that is expected.
We specialize in working with PharmD professionals and their families. That is who we are best suited to serve. However, if we feel you are a good match for our firm, we are open to exploring a relationship with you. It just needs to be a good personal fit for everyone involved.
We can help you with a wide variety of financial challenges and pain points through our services, such as the following:
- Managing student loan debt
- Cash flow management
- Wealth accumulation and diversification
- Investment management
- Taxes and tax planning
- College planning
- Retirement Income planning
- Insurance review
- Estate planning
Not at all! Our firm is structured to serve PharmD professionals at varying stages of their lives. We understand some of those stages may not involve having a bunch of money to manage and that’s ok! We have structured our fees based on net worth and not assets under management (AUM). So there is no minimum dollar level required to work with us.
You can cancel your relationship at any time. Clients usually pay their fees on a monthly basis, so if you cancel I will refund whatever portion of the month remains and we will part ways as friends!