With her background as a registered pharmacist, Jacqueline Vallester, a one-year MDRT member from Caloocan City, Philippines, approaches financial advising with the same desire and zeal to remedy clients’ struggles so they can be in the pink of health financially.

Her journey as a pharmacist began in a busy hospital in Metro Manila, where she honed her skills, which included providing the right medicine from prescriptions and advising patients on their medications. Despite her passion for healthcare, Vallester harbored a desire to extend her impact beyond the confines of the hospital while earning more, as she is the eldest daughter and breadwinner supporting her family. "Don’t get me wrong. I have a big heart for pharmacy, and helping patients get well satisfied me. However, I found my advocacy in guiding people in their financial planning. Being a financial advisor is almost similar to being a pharmacist because we help address their pain points by providing solutions so they can prepare for the future.”

Vallester’s career shift began post-pandemic when she was looking for a side hustle to support her family, and a friend invited her to attend a career orientation program for financial advisors. She found the work fulfilling and purposeful, so she took on the challenge. However, the transition was initially formidable as she did not have a sales background. Working independently was another skill she needed to strengthen, as she had always been part of a team. “I thought, ‘How could I be successful in this career? I’m unfamiliar with the industry.’ A financial advisor helps shape important client decisions by understanding their goals and needs and analyzing and offering the best solution. All I knew were medicines and prescriptions.” She still leaped and trusted herself, her mentors, and the process. She started tapping her warm market, including her family and friends, to help them through the different life stages and cater to their financial needs and goals.

Vallester was already happy to be securing the lives of her clients and target prospects when her mentor challenged her to achieve MDRT status. With perseverance, she qualified for MDRT after two years. She feels she can help more people because she’s gained more confidence, knowledge, and contacts through the training and conferences. She now has a clientele of about a hundred young adults, parents, and seniors who want to protect themselves and their loved ones through health, education, and retirement plans.

Vallester seamlessly integrates the critical skills of a pharmacist into her current role, which helped her achieve MDRT status.

Attention to detail: Pharmacists are trained to be meticulous, ensuring accuracy when dispensing medications and advising patients. Vallester’s approach thoroughly examines every aspect of her clients' financial landscape. Income sources, expenses, debts, investment portfolios, risk tolerances, and long-term goals are carefully reviewed and analyzed. No detail is too small to escape her attention to understand their needs and aspirations fully. Just as a pharmacist gives regimens to fit a patient's condition, she crafts personalized plans tailored to their specific circumstances and goals as details matter in pharmacy and financial advising. She recognizes that overlooking even the most minor aspect of a client's financial situation will have significant repercussions.

Client communication: Effective communication is necessary in pharmacy and financial advising. Pharmacists must convey complex medication instructions clearly to patients, while financial advisors must explain intricate financial concepts to their clients. Financial planning can be daunting with its jargon and technicalities, so Vallester patiently breaks down complex topics into digestible information that her clients can better understand.

Regulatory knowledge: Staying abreast of regulatory changes is vital in pharmacy and financial advising. Pharmacists must remain updated on pharmaceutical laws and changes in medication formulas, mirroring financial advisors' need for a current and thorough understanding of regulations and compliance requirements. She ensures she keeps abreast of the continuously evolving regulatory landscape in the Philippines, safeguarding her clients' economic interests.

One of her warmest markets is parents who want to prepare for their children’s future. As her family’s breadwinner, she understands their challenges and aspirations for their children. “I want these parents to have a solid foundation and be a good example to their children,” she says.

One of her clients, a mother working as a contract worker overseas, contacted Vallester after finding irregularities in how her relatives handled the money she remitted to the Philippines, which was meant for her child’s expenses and her pension. “However, there were times when her pension was neglected, which spurred her to handle her money independently. However, she felt she had limited financial skills, so she contacted me to help plan their future.” Vallester worked with her client to make more informed financial decisions, eventually leading to her client availing of an educational plan for her child.

“I thoroughly explained how the plan works and its critical role when the time comes for university, which can be very expensive. My experience as a pharmacist sharpened my ability to discuss the salient points of a financial plan so that I do not miss any critical details. After she had availed herself of a plan from me, she made me the godmother of her kid. It shows she trusts me to help them over the long haul.”

When you have unique skills and experiences from a previous profession, incorporate them into your practice. Leverage your strengths to connect with clients on a deeper level and provide comprehensive solutions tailored to their needs. Make them feel seen, heard, and understood.

Contact: MDRTEditorial@teamlewis.com

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Wealth prescriptions from a pharmacist turned advisor