For Doctors

As our practice has grown over the years, we continuously strive to improve our service and guidance for our clients. As a doctor, you have very specific needs, and we have designed programs to assess those needs.

Some of the common problems we see doctors facing today are how to move up in retirement and how to minimize the taxes they are currently paying. We have seen many doctors make major mistakes when they attempt to sell their practice and end up paying up to 80% of the sale in taxes.

There are some alarming statistics that face you as a seasoned doctor in your practice. A survey was taken last year that found that 42% of physicians in the medical field said they felt burned out in 2018.1 So you may be looking for an exit from your practice, but you don’t want to have a fire sale. You want to position the sale of your practice to maximize profit and minimize taxation. Our goal is to help you accomplish your goal.

We have had similar changes in the financial services industry. The battle in our industry has been over an advisor’s duty to their client. A large group of financial institutions wants to keep the suitability standard, which means any product or service can be sold as long as it’s suitable, whether it meets your needs or is in your best interest. We are opposed to this standard of care and feel it’s our duty to look out for the best interests of our clients. We expect the highest standard from our doctors and lawyers, so why should we not expect that from financial advisors?

As a doctor, you have specific needs that must be addressed, and we have the team to help accomplish that. Instead of referring you out to a CPA or attorney, we have brought Mike Canet into our practice. Mike is an estate planning attorney and has his master’s degree in taxation. Mike is also a fiduciary and helps with our high-net-worth clients for estate and financial planning needs. We also have Luke McCarty, who is a certified financial planner who concentrates in income planning for retirement for high-net-worth individuals.

We can’t stress enough the importance of the tax and estate planning aspect of financial planning. You’ve heard it before, but it’s very true. It’s not how much you make — it’s how much you keep.

Call us to ask for your complimentary copy of the book by Dr. Vicky Ratner. Vicky is one of my favorite doctors who specializes in addressing the specific needs of doctors and how to help transform their practices.

1 https://www.medscape.com/slideshow/2018-lifestyle-burnout-depression-6009235