FINANCIAL STRATEGIES FOR PHARMACISTS
Get Your Specialized Plan Today
In the fast-paced world of pharmacy, managing your finances and planning your future shouldn’t be a source of stress. At Tarrant Financial, we’re dedicated to addressing the specific financial needs of pharmacists, helping you understand the value of your business, plan your exit, and ensure your well-being along the way.
EXCLUSIVE OFFERING
We’re excited to introduce a groundbreaking opportunity tailored for pharmacy owners. Our initiative is designed to empower owners with the ability to custom design their own 401(k) or profit-sharing plan. This unique offering not only allows you to set up and brand your plan for your pharmacy, ensuring it reflects your business’s identity, it also provides independent administration and privacy. Now available to AIP members with exclusive bundled pricing discounts.
Planning with Purpose
Exit with Assurance: Valuing Your Pharmacy for the FutureUnderstanding the value of your pharmacy and ensuring that selling your business leads to long-term financial security are critical aspects of our service. With more than 20 years of dedicated experience assisting pharmacists, Tarrant Financial excels in unraveling the complexities of business valuation and developing tailored exit strategies. Our goal is to enable you to transition away from your business at the time of your choosing, in the way you choose, with a strong sense of financial stability and assurance.
Craft Your Independence and Financial FreedomFor the visionary pharmacist, the quest for financial autonomy involves more than just preparing to sell the business. It’s about constructing resilient financial portfolios that ensure independence, reducing the necessity of depending solely on the sale of your business. At Tarrant Financial, our strategic financial planning is tailored to aid you in flourishing, even amidst volatile markets. Our mission is to foster your financial growth, enabling you to pursue and maintain financial freedom through comprehensive, adaptive financial strategies.
Safeguard Your Future: Prioritizing Health and Well-beingPharmacists, by the nature of their profession, find themselves on the move – often for long hours behind the counter – which can uniquely tax the body, possibly precipitating early onset of osteo-related health complications. This reality underscores the importance of not only recognizing but actively preparing for the long-term care needs of both you and your loved ones. At Tarrant Financial, we place a strong emphasis on early and strategic planning for long-term care, helping ensure a secure and healthy future for you and your family, free from the worries of unexpected health challenges.
YOUR FINANCIAL CHAMPION
Meet Mike Tarrant
Mike Tarrant brings over three decades of experience, specializing in helping pharmacists like you for over twenty of those years. His personalized, goal-centered approach means your financial plan is curated to your life’s unique blueprint. With a deep understanding of the pharmacy industry, Mike has become a valued advisor among pharmacy professionals—helping you secure not just your financial future, but also the legacy of your business.
About Mike
CERTIFIED FINANCIAL PLANNER™ professional with a focus on pharmacists and pharmacy ownersSponsor and member of the Georgia Pharmacy Association and Preferred Partner of its Academy of Independent PharmacyCorporate Patron of the Association for Pharmacy Compounding (APC)Frequent speaker at Georgia’s four colleges of pharmacy, assisting with the Georgia Pharmacy Foundation’s student debt and financial wellness initiativeOffers a network of specialized professionals for a seamless financial planning experienceActive community member and mentor, embodying the values of service and leadershipGPhA PharmPAC and APC CompPAC supporterProfessional advisor to the UGA College of Pharmacy’s Capital Campaign Committee that helped fund the College’s second building and various scholarshipsYOUR FINANCIAL CHAMPION
About Charlie
CERTIFIED FINANCIAL PLANNER™ professional (2015)Georgia Variable Products, Georgia Life, Accident & Sickness, Georgia Property & Casualty licensesSeries 7, Series 65, Series 63, Series 6Enrolled Agent, Internal Revenue Service (2012)Bachelor of Science in Mathematics Education, University of Georgia (2009)WHY EXIT PLANNING IS GOOD BUSINESS
Creating a personal financial plan is crucial to the exit planning process.
Here’s how we do it:
Define Your Priorities and Purpose:We start by helping you envision your preferred future, encouraging you to think about where you want to be in three years. We call this your 3-Year Vision, and this vision becomes the foundation for a robust financial plan designed specifically to integrate your personal plan with your business plan – and to help fuel the growth of your pharmacy.
Break Down Your Plan:We help you segment your ambitious plan into manageable 90-day segments that we call 90-Day Mileposts. This approach ensures you can methodically work towards your long-term goals without feeling overwhelmed, allowing for steady progress.
Accelerate Enterprise Value:Our focus is on identifying and mitigating risks associated with your pharmacy business to elevate its overall value. We explore strategies to make your business more robust and valuable.
Understand Your Business’s Worth:We emphasize the importance of recognizing the value of your pharmacy early in the planning process. This understanding is essential for effective strategic planning and decision-making.
Stress-Test Your Financial Plan:Together, we’ll evaluate different scenarios, including the potential sale of your pharmacy, to test the resilience and flexibility of your financial plan under various conditions.
Estimate Required Capital for Independence:We assess the capital you may need for financial independence and whether your current plan depends on selling your pharmacy. This evaluation helps in setting realistic and workable financial goals.
Align Investments With Your Goals:We assist in allocating your investments according to their timeframes—short, mid, and long-term. This organization helps ensure that your investment strategy is in harmony with your overarching goals and vision for your pharmacy.
Learn From Successful Entrepreneurs:By analyzing the strategies of successful pharmacy owners, we glean insights into effective practices and common pitfalls. This learning aids in refining your strategy and avoiding common mistakes.
How We Can Help You
At the core of our financial advisory services is a comprehensive approach designed to support every facet of your professional and personal financial life. Below are the key areas where we excel:
LEGACY PLANNING:
We guide you through the intricacies of philanthropy, ensuring your charitable efforts align with your values and legacy goals. Additionally, we address education planning and preparation for significant life events, safeguarding your family’s future.
BUSINESS PLANNING:
Our team provides robust business planning support, helping you grow and sustain your enterprise more efficiently and profitably while navigating the unique challenges of ownership along with preparing for your eventual exit.
TAXES:
We craft personalized tax planning strategies aimed at reducing your tax liabilities, ensuring you keep more of your hard-earned money while remaining compliant with the law.
INVESTMENTS:
Our expertise in asset allocation and investment strategies enables us to manage your portfolio effectively, aligning your investments with your financial objectives and risk tolerance.
RISK MANAGEMENT:
We offer comprehensive estate planning, benefits planning, insurance, and liability & asset protection advice designed to safeguard your assets and help protect your wealth against unforeseen risks.
CASH MANAGEMENT:
Effective cash reserves, cash flow management, and debt management strategies are essential for financial stability. We work with you to optimize your liquidity and manage debts wisely.
RETIREMENT STRATEGY:
We specialize in retirement income planning and retirement plans, offering tailored advice to work towards a comfortable retirement.
Why Work with Us?
When you choose to work with Tarrant Financial, you’re getting more than financial advice—you’re gaining a partner who is as committed to your success as you are.
Ready to Plan Your Next Step?
Whether you’re at the AIP Convention or planning from the comfort of your home, it’s never too early or too late to start thinking about your pharmacy’s future. Schedule your complimentary consultation with our team today and take the first step towards aligning your financial goals with your life ambitions.
FAQs & Guidance
Have questions? We’ve got the answers that will help demystify financial planning for pharmacists and pharmacy owners.
Do I need to live near Atlanta to work with Tarrant Financial?
No, our services transcend geography, thanks to today’s virtual capabilities.
How do I know if Tarrant Financial is the right fit for me?
It all starts with a conversation. Let’s talk about your goals, your current situation, and where you want to go. From there we’ll craft a plan that’s a custom fit.
What can I expect from an initial consultation?
A complimentary meeting to explore how our services can meet your unique needs—no strings attached. And maybe some information you can use right away.
For more detailed answers to these questions and more, reach out to us!