Tara Mosely
St. John's University
Charles Wankel
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Vitalstone Financial is a financial investment group which aims to provide personal or business related financial support and advice to their clients through one-on-one interaction. By spreading knowledge about financial management and investment to families, retirees, and small businesses, Vitalstone is fulfilling the UN Goal of Decent Work and Economic Growth.
Financial investment and management have grabbed the interest of millions within recent years. While in the past people only focused on the most basic elements of finance that applied to them, such as filing taxes and conducting a budget, the world of finance has begun to emphasize the importance of investment and long term planning for all individuals.
University students who take interest in financial planning are provided with more access to financial education and resources to help plan for their futures, whereas older generations who have already established their careers and have become more comfortable with older financial practices are struggling to understand the new economic world. This is a struggle Vitalstone Financial aims to eradicate through personal financial planning and investments for their clients.
Vitalstone seeks to fulfill the SDG of Decent Work and Economic Growth by improving the financial health of their rapidly growing client base. With a dedicated work force comprised of six employees, Vitalstone is committed to helping their clients achieve their financial goals depending on their individual preferences and budgets. Whether planning to save money for their children's college fund or for their future retirement, Vitalstone provides their clients with step by step planning and advice, providing them with the support and knowledge that is difficult to find in everyday life.
Dr. Christopher McNeil, one of the original founders and employees of Vitalstone Financial.
Dr. Christopher McNeil, one of the original founders and a primary investor for Vitalstone, recognized through his experience teaching medicine that many of his students were not knowledgeable on financial management. In a field that demands such expensive fees, Dr. McNeil understood how important it was to educate doctors-- both newly emerging and retired-- on financial investment and management. Through this acknowledgement, he decided to make it his mission to assist doctors in achieving their financial goals. Since founding Vitalstone in 2017, he has grown a client base that, while still comprised mostly of doctors, has recently begun reaching other types of clients, such as younger families and small businesses who seek financial knowledge and advice.
Vitalstone is invested in helping the communities that they came from: families, retirees, and business owners. Their team puts an emphasis on one-on-one connections and communications with financial investors and advisors because they understand that having the ability to meet with someone one on one is more beneficial to improving their finances and achieving their goals.
Broadly speaking, financial health provides the overall economy with beneficial factors that would not exist otherwise. When people actively plan and save for their individual futures, they are more capable of paying their taxes in a timely manner or helping fund local businesses by partaking in their services. By helping individuals, Vitalstone is also helping fund the future of America's economy.
With Vitalstone's recent influx of new and recurring clients, its employees have high hopes that the company will grow rapidly and exponentially within the next few years. Christopher McNeil recalls that he has seen significant growth in the company, and has hope that it will one day be bought out when it has grown to a larger scale.
Vitalstone's success has also provided its employees with plenty of personal benefits. Considering the fact that many of the team members of Vitalstone are active or retired doctors, having a second income source provides them with the chance to retire at an earlier age and focus on their personal wellbeing. The Vitalstone team sees this both as a blessing and a motivational factor for them to continue committing to the success of their business and the success of their clients.
Vitalstone is committed to helping people with their individual financial goals that they have a hard time tackling otherwise. Whether it be planning for a vacation or setting aside savings to start a small business, Vitalstone develops individual strategies and plans to guide their clients through the financial world. Their expertise has started to flourish lately; while Vitalstone started off with 50 million in assets managed in 2020, today they have about 260 million in assets. As for their client base, what started as 100 total now shows an increase of 50-60 clients per year.
On a more personal level, by reaching out a helping hand to fellow doctors, Vitalstone is fulfilling their goal of giving back to their community. With a work force comprised mainly of doctors, both retired and active, Vitalstone Financial understands the financial struggles and concerns doctors face on a regular basis.
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