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Main Subject - The Right Financial Advisor for You
Financial Advisors come from varied backgrounds, wear different hats and offer vastly different services. So, that begs the question, “What makes an advisor from Merri
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
ll Lynch, or UBS, or MetLife, or another firm, big or small, different from any other?”
That's a great question – one I get asked all the time. But, the question I of
That's a great question – one I get asked all the time. But, the question I of
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
en sense lurking well below the surface is one far more rarely asked, if ever. That question is, ... “Who is the right advisor for me and my family?”
Slick slogans an
Slick slogans an
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
fancy websites aside, one thing is sure. It's way harder than ever before to determine who's who in the financial industry and answer that question.
Just a few short
Just a few short
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
years ago there were clear differences between financial service firms, their representatives and the services they offered. Banks existed to help consumers save money
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
or get loans. Stock brokers worked for wirehouses and broker/dealers and sold securities. Mutual Funds sold shares directly or through their own sales representatives.
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
And, insurance companies sold insurance through their agents.
Today, once clear lines have evaporated. Now, there is one broad, and somewhat murky, financial service
Today, once clear lines have evaporated. Now, there is one broad, and somewhat murky, financial service
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
sector populated with many types of financial service providers and many types of financial advisors. The relaxation of industry regulations, industry consolidation,
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
he subtle, and ongoing, shift from transaction based business to fee based business, and the trend toward small independent firms has produced a whole new playing fiel
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
. Most firms, large and small, and their advisors now offer a vast mix of products and services from banking to investments, tax planning, insurance, financial plannin
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
, you name it. So, it's no surprise that consumer confusion exists.
Today's financial services client has to be increasingly more diligent in understanding what servi
Today's financial services client has to be increasingly more diligent in understanding what servi
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
ces they are buying and from whom. My advice? Ask questions. The more questions the merrier. “Do NASD Series 6 licensees differ from Series 7 licensees?” “Do the vario
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
s designations thrown about the industry make a difference?” “How much experience should an advisor have?” “Does the type of firm an advisor works for make a differenc
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
own questions based on what concerns you.
Through asking questions and taking note of the answers, you'll begin to understand the parameters of the industry, it's pl
Through asking questions and taking note of the answers, you'll begin to understand the parameters of the industry, it's pl
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
yers, and it's representatives. You'll also learn the limitations of any particular firm or advisor, what services you really need, and what type of advisor client rel
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
ationship may serve you best.
But, there's more.
A wise financial advisor once told me, “It's not passing a test that makes a great advisor, it's what's in that advi
But, there's more.
A wise financial advisor once told me, “It's not passing a test that makes a great advisor, it's what's in that advi
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
or's heart that makes a great advisor.” That's something that has stuck with me. Training, expertise, and experience aside, great advisors really care about their clie
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
ts.
So, when I'm asked that great question, I always get around to answering by saying the right advisor for any client is the one who harmonizes with the vision you
So, when I'm asked that great question, I always get around to answering by saying the right advisor for any client is the one who harmonizes with the vision you
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
ave for your life, the one you and your family trust the most, and the one your have the most personal faith in. Safe bet is, he or she is the advisor that truly cares
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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