Three Reasons It May Be Time to Delegate Your Finances

Three Reasons It May Be Time to Delegate Your Finances

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Delegation can improve your finances, reduce stress, and let you focus on what is most important to you.

“The best executive is the one who has sense enough to pick good men to do what he wants done, and self-restraint to keep from meddling while they do it.” – Theodore Roosevelt, 26th U.S. President

Listening to a new podcast by NPR called How I Built This, I’ve learned the beginning of many great companies such as Zappos, Whole Foods, and Kate Spade among others. They all started out as very small operations, but as the business grew and became more complex, the owners became overwhelmed with uncharted territory and began delegating our tasks or outsourcing certain operations to those who were experts in that particular field just as the quote from Theodore Roosevelt alludes to.

This is very similar to how many of our clients determined it was time to seek out a financial planner to handle their finances. As their careers and family lives progressed their investments, tax situation, goals for their money, and family goals became more complex and involved.

3 Reasons It May Be Time To Delegate


They determined that they could no longer comfortably accomplish three things:

  1. They didn’t have the confidence that they could handle the emotional aspects and patience it took to manage their investments. They wanted the financial peace of mind knowing someone was looking out for them.
  1. They realized the more complex their finances became the more knowledge of taxes, insurance, investment markets, retirement plans etc. was needed. To mitigate against the stress this creates, it was time to seek out an expert.
  1. They didn’t have the time it takes to stay on top of various components of the investment markets, analyze the funds in their 401k, or how best to build their portfolio to be tax efficient. Their time was better spent on things that mattered most in their lives; family, relationships with their spouse, or running their own business. Instead of spending Saturday mornings surrounded by investment statements, they would rather spend time enjoying their weekends.
     

It was time to delegate just like the founders of the previously mentioned companies had done and in this case, outsource the management of their finances to a CERTIFIED FINANCIAL PLANNER ™.

It makes sense though, when you’re sick you go to the doctor, when you need legal advice you seek an attorney and when your pipes burst you hire a plumber.

If the points above resonate with you, then now may be the time to seek out a financial planner who will manage your finances in a fiduciary manner so that you can ensure you are making prudent financial decisions, have financial peace of mind, and prioritize your life in a way that accomplishes your ultimate goals and objectives.

Chad Smith
Advisor
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Chad has spent the last fifteen years helping people discover how they can spend more time on things they enjoy.  He is a Certified Financial Planner (CFP®) an ... Click for full bio

How We're Investing in the Search for a Cancer Cure

How We're Investing in the Search for a Cancer Cure

Written by: Frank Jennings, Ph.D., Portfolio Manager

I hate cancer.


I’ve lost one too many friends to this insidious disease and I’ve made it a priority to be part of the effort to find a cure for it. Every day, I draw motivation from the people I’ve lost in my work as Portfolio Manager of Oppenheimer Global Opportunities Fund.

I may not be a doctor or medical industry professional, but the work my team and I do has brought us to the front lines of the ongoing fight against cancer. The Fund’s guiding philosophy is to invest in emergent growth companies that we believe have the potential to grow into large, highly profitable businesses.

Our search for these types of companies has given me renewed hope that we are closer than ever to finding a cure for one of the deadliest scourges humanity has ever known.

OppenheimerFunds’ Role in the Fight


Oppenheimer Global Opportunities Fund invests in a number of pharmaceutical and biotechnology companies that are developing breakthrough drugs that can potentially treat the disease more effectively without debilitating side effects, make it easier for patients to manage pain, and possibly even lower the cost of treatment.

The cutting-edge therapies that are in development may even pave the way to the ultimate goal – a cure for all forms of the disease. Of course, one glance at the National Cancer Institute (NCI) website is all it takes to remind us we’re in a fight that often feels like an uphill race against time.

At some point in their lifetime, nearly 40% of the population will be diagnosed with cancer, according to the NCI. Last year in the United States alone, 1.7 million people received this dreaded news from their doctor, while nearly 600,000 people succumbed to the disease.1

These statistics certainly make it fair to ask why I’m so optimistic about the future of cancer treatment and the potential for a cure.

Well for starters, just consider that geneticists have finally mapped the entire human genome. Today, 100 million people have had their genomes mapped, which has enabled us to confirm, for example, that there is a particular gene mutation that places some women at a high risk of developing breast or ovarian cancer at some point in their life.

This is important on several fronts. First, it allows doctors to know beforehand whether or not a cancer drug will work on a patient due to the genetic makeup of the cancer. This means fewer drugs will be prescribed inappropriately. It may even help bring promising new treatments to market faster.

By knowing a cancer’s genetic makeup, drug trials can be conducted only on people with a high probability of success. In turn, this will result in less money wasted, better outcomes for patients, and ultimately, faster approvals by the U.S. Food and Drug Administration (FDA) and other international regulatory bodies.

The Biotechnology and Pharmaceutical Companies We Believe In


One of the largest holdings in the portfolio is in a company that develops and markets therapies that mimic a person’s own immune system to fight cancer. This particular company, which is headquartered in the U.S., recently developed a new antibody-drug conjugate (ADC) technology that allows its medications to attack cancer cells with fewer side effects than chemotherapy.

This firm has a number of innovative cancer medications at its disposal – including therapies for treating various types of lymphoma. The company continues to sign partners onto its proprietary ADC technology, and we believe it is well-positioned to earn millions in royalties over the long term, making it an attractive acquisition target for larger drug makers. 

There are a number of European pharmaceutical and biotech firms in the portfolio as well, including another company that specializes in immunotherapy – which seeks to boost the body’s immune system to fight off cancer.

Analysts have predicted this company’s treatment for multiple myeloma has blockbuster potential. And although the drug is primarily used to fight blood cancer, there are signs that it could also work against solid tumors as well. Now beyond the “cash-burning stage” that afflicts most drug makers at some point, this company is on track to becoming a mature biotech firm that’s positioned for strong overall sales and steady royalty income in the near future.

Over the last five years, shares of this company have climbed more than 2,000% and we see potential for continued strong future growth.

How the Cancer Fight Aligns with My Investment Philosophy


I believe companies have a lifecycle – just like people do. There’s a beginning, adolescence, prime years, and an eventual decline phase. Companies usually begin as entrepreneurial ventures powered by the spirit of a startup. If they’re successful, they gradually mature into corporate entities and can enjoy an extended run of success. The decline phase typically takes root when companies get too big and bogged down by bureaucracy, regulation and saturated markets.

The Fund seeks to invest in businesses that still have exponential growth ahead of them. I’ve been excited to discover that there are quite a few companies like this at the forefront of the fight against cancer. Investing in these types of companies within the Oppenheimer Global Opportunities Fund can help clients achieve their desired investment outcomes, which is my top priority as a portfolio manager.

Combining this core mission with my personal desire to see cancer eradicated is one of the most gratifying parts of my job.

Learn more about how we think about investments differently, visit challengetheindex.com



Foreign investments may be volatile and involve additional expenses and special risks, including currency fluctuations, foreign taxes, regulatory and geopolitical risks. Emerging and developing market investments may be especially volatile. Eurozone investments may be subject to volatility and liquidity issues. Investments in securities of growth companies may be volatile. Mid-sized company stock is typically more volatile than that of larger company stock. It may take a substantial period of time to realize a gain on an investment in a mid-sized company, if any gain is realized at all. Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall, and the Fund’s share prices can fall. Below-investment-grade (“high yield” or “junk”) bonds are more at risk of default and are subject to liquidity risk. Diversification does not guarantee profit or protect against loss.

Mutual funds and exchange traded funds are subject to market risk and volatility. Shares may gain or lose value.

These views represent the opinions of OppenheimerFunds, Inc. and are not intended as investment advice or to predict or depict the performance of any investment. These views are as of the publication date, and are subject to change based on subsequent developments.

Carefully consider fund investment objectives, risks, charges, and expenses. Visit oppenheimerfunds.com or call your advisor for a prospectus with this and other fund information. Read it carefully before investing. 

OppenheimerFunds is not affiliated with IRIS.xyz.

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