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Why Work With a Financial Advisor Your Age Who Knows the Oil and Gas Industry? Thumbnail

Why Work With a Financial Advisor Your Age Who Knows the Oil and Gas Industry?

I experienced the worst oil crash in a generation

During the 2014 oil and gas market downturn, I was working at a major financial institution that happened to hold the 401k plans for some of the major oil and gas companies. I had many difficult conversations with families who were concerned about not only the balances of their 401k plan, but also their job security. Unfortunately, many of them didn’t pay attention to their finances and consequently became stressed about their financial future.

I want to make sure that you do not become one of those families in the future.

By now, you may have accumulated considerable company stock and have seen firsthand what a downturn in the oil and gas markets can do to your financial future. Some of you are planning marriages, having children or you might want to retire early. All of you have limited time to learn everything necessary to make the best financial decisions and need help but do not want to work with someone who is just going to try to sell you product.

For more than a decade, I have helped families in the oil and gas industry avoid common financial pitfalls that can lead to very catastrophic outcomes.

I started Green Mountain Planning as a fee-only financial firm to avoid the pitfalls and conflicts of interest found in other agency settings.

I work for you, not any company or product.

I understand the financial concerns you are experiencing or will experience.

Equity compensation for oil & gas workers 

SOPs, SARs, RSUs, RSAs, PAs, NSOs, ISOs are all types of equity compensation and can start to look like another language after a while.

It is extremely important to understand what you own and to have a documented exit plan so that you can avoid huge tax ramifications and keep more of your money in your pocket.

Job security for oil & gas workers

If you have been in the oil and gas industry for more than 4 years, you have seen your fair share of severance packages, mergers and layoffs. These types of events also happen in other industries but not typically when the overall economy is growing like it has been over the past decade.

It is critical to recognize that the oil and gas industry is unique and therefore you should have a financial plan that is flexible and strong enough to handle a job change at a moment’s notice.

Skills needed are changing for oil & gas workers

Rigs are getting smaller and more automated, drones and equipment sensors are revolutionizing monitoring and maintenance. Technology is impacting many oil and gas jobs which will require you to evolve and develop a new skillset in order to remain competitive in the job market.

This might mean you will need to go back to school to develop new skills and therefore need to have the flexibility in your budget to pay for it or you may need to start creating a plan to allow for continued education.

I am your age and therefore I know what life is like.

Over the past 5 years, I got married, moved cross country for a job, bought my first home, had a baby, sold my first home, bought another home and quit my job. Does that sound like steps you have taken or will be taking?couple financially planning for expecting baby

Many financial planners or big firms refuse to work with people our age because in their eyes we do not have “much going on in our life” and do not have a pile of money sitting to be managed. In my opinion they are missing out on being able to help families when they really need it. We need the most help in our 30s and 40s not when we are about to retire.

At Green Mountain Planning, we help families in the oil and gas industry solve real life financial transitions. Our clients’ pay us monthly like they pay their utility bills and therefore do not have to have endless amounts of money to work with us.

I understand oil & gas company benefits.

Unlike other advisors who work with everyone, I only work with families in the oil and gas industry. This specialization allows me to spend additional time getting to know your company benefits so that you can maximize your 401(k) matching, health savings accounts, estate planning assistance, etc.

Working with a financial planner who knows your industry and your life needs. By working with Green Mountain Planning you will feel confident that:

  1. We understand the unique financial decisions professionals working in the oil and gas industry have to make.
  2. Financial planning is NOT just about saving for retirement, it’s also about solving real life financial transitions now.
  3. We will help you get the most out of what your company benefits offer.

Thanks for reading. If you want to learn more about how Green Mountain Planning can specifically help you, visit Green Mountain Planning. 


All of our engagements begin with a free no obligation introduction or second opinion review.

P: 970-620-8688

E: nestor@greenmountainplanning.com


About the Author:
For more than a decade, Nestor has helped his oil and gas professionals define their personal financial values to help build a plan that centers on rewarding outcomes. The journey, he believes, is every bit as important as the destination. He established Green Mountain Planning as a fee-only financial firm to avoid the pitfalls and conflicts of interest found in other agency settings. “I work for you, not any company or product.”