Pensacola Framery

Main Menu

  • Home
  • Financial planner
  • Financial advisor
  • Financial services
  • Financial authority
  • Financial institutions

Pensacola Framery

Header Banner

Pensacola Framery

  • Home
  • Financial planner
  • Financial advisor
  • Financial services
  • Financial authority
  • Financial institutions
Financial advisor
Home›Financial advisor›How to Find a Financial Advisor for Physicians » Helpful Wiki Financial Advisors

How to Find a Financial Advisor for Physicians » Helpful Wiki Financial Advisors

By Mark L. Wells
May 2, 2022
0
0

Physicians face a unique set of financial challenges and opportunities. And a financial advisor with a specialized understanding of these factors can help doctors navigate these unusual circumstances.

Just as you won’t go to an orthopedic surgeon to help you with an earache, experts say, you shouldn’t work with a financial adviser who doesn’t know the intricacies of a doctor’s lifestyle.

“A financial advisor should be a guide, someone who understands your unique situation and can help you plan for your future,” says Julia Bartak, financial advisor for Edward Jones in the Kansas City area. “That means they need to understand the nuances of working in the medical field, like running a medical practice, insurance, retirement options and more.”

How to Find a Financial Advisor for Physicians

Word of mouth is one way to find a financial advisor who specializes in helping doctors. Ask other doctors in your area for recommendations and their thoughts on their relationship with the advisor.

“If you belong to a hospital group, you can check with your (human resources) department if they would be able to recommend someone,” says Hagen Pruemm, investment adviser and president of SIS Financial Group at Hoffman Estates. , Ill.

And there’s always Google: a simple Internet search for “financial advisor for doctors near me” can yield a multitude of results. Then check the advisor’s website to see if it is specifically for doctors.

You can also refer to websites that provide educational financial content for doctors, such as The White Coat Investor and Physician on Fire, which refers to the acronym for “financial independence, early retirement.” Just be sure to do your due diligence before choosing any advisor highlighted on such a website.

Check advisor credentials at BrokerCheck.finra.org or AdviserInfo.sec.gov, two free tools where you can review an advisor’s background, experience, and disciplinary actions.

If you know you want to work with a specific type of advisor, such as a Certified Financial Planner, you can also check the credential provider’s website for a list of local licensed advisors.

What to Look for in a Financial Advisor for Physicians

“Physicians can certainly benefit from the help of a financial advisor who understands their individual or specific situation,” says Pruemm. “Most doctors will eventually end up among the highest earners, but years of medical school and residency can lead them to start out with much more debt than most Americans.”

A financial advisor who has experience working with medical professionals will be better equipped to help you develop a plan that addresses these unique concerns, he says.

“Often doctors work well into their 60s or 60s, so one of the biggest financial threats would be premature death or disability resulting in years, if not decades, of lost income,” Pruemm says. “With what seem like endless life and disability insurance options, having a financial advisor who also specializes in this area would be very helpful.”

Bartak says an advisor can partner with an insurance specialist to help you choose the right insurance coverage. Likewise, the advisor can also work with your tax accountant to ensure that you are maximizing tax-advantaged income.

Some financial planning companies have insurance and tax specialists under one roof, while others may partner with outside companies.

If you own a practice, a financial advisor can help you establish an appropriate and thoughtful succession plan, Bartak says.

“As a doctor, you know the importance of regular check-ups and listening to your patients,” says Bartak. You should expect the same from your financial advisor.

“Your financial advisor should ask you about your goals, hopes, dreams, and fears, and help you put together a financial strategy to achieve what matters most to you,” she says. The advisor will contact you regularly to ensure that you are still on track to achieve your goals.

“Above all, a financial advisor should serve you in a human-centered way — much like how a doctor treats a patient,” Bartak says.

Financial Advisors for Physicians

Here are some financial advisors who specialize in helping doctors.

Remember: It’s important to vet a financial advisor, review their credentials, and ask the right questions before engaging in an advisory relationship.

  • Aptus Financial: A fixed-fee financial planning and investment company focused on early- and mid-career physicians.
  • Wrenne Financial Planning: A comprehensive fee-based financial planning company for physicians.
  • Panoramic Financial Advice: A comprehensive financial planning practice with advisors who work specifically with young physicians.
  • Financial Rounds: A site dedicated to helping physicians make financial decisions with ongoing financial planning and investment management.
  • CMG Financial Consulting: A fee-based financial planning company that works primarily with doctors and healthcare professionals.
  • Physician Family Financial Advisors: A fee-based financial planning company for physicians and their families.
  • Pulse Financial Planning: a fiduciary financial planning company specializing in helping healthcare professionals.
  • WealthCare LLC: A fee-only financial planning and investment management trust company specializing in physicians and other healthcare professionals.

Related posts:

  1. Financial Advisor Discusses Tips for Smart Financial Planning in the New Year – Oakland News Now
  2. Not Your Dad’s Financial Advisor — With Jessica Weaver
  3. Christiaan Wessels – Financial Advisor
  4. Financial Advisor Asset Management & Advisory Services opens new location in Cape Coral

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • August 2019
  • June 2019
  • April 2019
  • December 2018
  • November 2018
  • October 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • March 2018
  • February 2018
  • October 2017
  • August 2017
  • June 2017
  • March 2016

Categories

  • Financial advisor
  • Financial authority
  • Financial institutions
  • Financial planner
  • Financial services

Recent Posts

  • IQ Financial Advisor – Content Page
  • Top 5 Online Payday Loans For People With Bad Credit
  • Salary expectations for financial advisors in 2022
  • Samuel R. Schnydman, retired financial advisor and insurance agent, dies – Baltimore Sun
  • ‘I lied to everyone I met’: how gambling addiction took hold of women in the UK
  • Privacy Policy
  • Terms and Conditions