If you've followed Vizionary for any amount of time, you've probably heard us mention that we specialize in the pharmaceutical industry. Today, we want to answer your questions about what that means and why we chose to specialize. At this moment (July 2022), over 80% of our clients are in or connected to the pharmaceutical industry. That's not an accident – it's intentionally how we built the business.
1. An Industry That Matches Our Purpose
One of our mottoes is, "We want you to do well so that we can do good." Your financial success as our clients is what fuels our philanthropic passions. We talk about this a lot internally – charities, ministries, and organizations that are doing good in our local communities and around the world. It's what drives us Monday through Friday and beyond. Our purpose for operating the business is to be able to do good in our communities, by helping our clients do well. Now we turn that lens to our clients.
We believe there might not be any industry that's done more good for humanity than the pharmaceutical and medical device industry.
Their mission is to take deadly diseases and turn them into treatable, curable illnesses. We don't think there's anything more valuable for humanity than that.
We can invest in clients who are already in an industry that's doing good for humanity – and we can then help them do well which helps our business do well so that we can do good? We're creating a multi-generational virtuous cycle through the kinds of clients we're working with. We're building business models to benefit them specifically because we believe in the virtue of the mission.
2. The Pharma Industry Is Increasingly Volatile
The second reason we have specialized in the pharmaceutical space is that the industry has radically changed over the last 30 years. One of the primary changes we've seen corporately is the offloading of R&D around drug risk to smaller organizations. As a result, these smaller, special-purpose biotech organizations face much higher turnover because of the grand-slam-or-strike-out life cycle of these companies.
The result is a much higher level of volatility for our clients over the course of their careers. Our job is to help provide a strategic perspective that helps our clients stay on track for the life, lifestyle, and legacy they want on a personal level. The volatility creates an opportunity for us to add value to our clients beyond unspecialized financial planners.
3. The Peak Earning Window is Shorter, More Critical
The final thing that drives our decision to specialize is that pharmaceutical industry professionals very often have shorter windows for their peak earning years, but their peak is far higher than most. In many cases, you're coming up through the commercial ranks and you're spending a lot of time doing lower-level management roles before you really get into your peak earning years.
When you finally reach your peak earning window, it tends to be shorter and subject to more risk that's tied to the success or failure of your company.
This provides unique challenges for our clients, especially those who are in the early stages of their peak earning years. We see our roles as more than just an investment manager. We are here to provide perspective on questions like contract negotiations, executive comp packages, insurance coverage, and more.
Here With Perspective for the Decisions Ahead
We see the pharmaceutical and life science industries as an opportunity to
- Work with clients in a virtuous cycle
- Add unique value that reflects an evolving corporate reality
- Help clients leverage the shorter peak earning years of the average pharmaceutical industry career
We think that we are well-positioned as a business to add enormous value by working with clients in this space. Even better, we know that they're doing enormous good for the world and for humanity, and we want to help. Here at Vizionary Wealth Management, we're always here with perspective for the decisions ahead. I hope this has been helpful. Have a great day.