Financial services and pharmaceuticals are two very different industries. I think one stock from each of these could prove to be excellent income stocks.

The two picks I’m referring to are abrdn (LSE: ABDN) and GSK (LSE: GSK). Here’s why I reckon investors should consider buying some shares.

abrdn

Since the firm underwent its re-brand, the shares have struggled. However, this hasn’t been down to a name and branding change. Underlying issues haven’t helped the firm. However, I think it’s now on the right course to provide steady investor returns at an attractive level.

Before I dive into that side of things, it’s worth noting that abrdn shares are down 25% over a 12-month period. They were trading for 217p at this time last year, compared to 162p at current levels. It’s worth mentioning that macroeconomic volatility hasn’t helped either.

Recent strategic moves could help boost abrdn shares, as well as investor returns. For example, the business announced just last month it is cutting 500 jobs. Most of this will be management-related roles it feels it doesn’t need. In addition to this, it is outsourcing technology, which could help bring costs down and improve efficiency.

Furthermore, acquisitions such as interactive investor in 2022, and exposure to the growing US healthcare market via adding Tekla Capital Management to its offering could bear fruit. The former has already helped boost performance.

The natural risk for me is that of continued macroeconomic volatility hurting inflows and revenues, which underpin investor rewards. Rising interest rates and inflation have wreaked havoc on global economies. This has hurt most financial services stocks so this is a major risk I’ll continue to monitor.

However, a dividend yield of 9% and the shares looking attractively valued on a price-to-book ratio of 0.5 makes the stock one to seriously consider for returns and growth.

GSK

Since GSK split and formed Haleon for its consumer healthcare division, it now focuses solely on developing drugs and treatments, which is a potentially hugely lucrative market in its own right.

The shares are up 13% over a 12-month period. They were trading for 1,456p at this time last year, compared to current levels of 1,654p.

The allure of GSK stems from its long and storied track record in the drug development business. Plus, its good financial and performance track record. Many of its drugs are leaders in their respective fields. In addition to this, it is making real headway towards becoming a major player in the vaccines market. This is primarily linked to heavy investment in recent years.

For me, the biggest issue that could hinder GSK shares and payouts is that of continued investment and failure to create drugs and vaccines that make it to market. This could hurt its performance, balance sheet, and investor sentiment.

However, a dividend yield of 3.5% and the shares trading on a price-to-earnings ratio of 13 make it very attractive. I am conscious that dividends are never guaranteed. Ultimately, I reckon the shares could continue to climb. Furthermore, I’d expect the level of return to do so as well.