Physician Financial Advisor

Why do I need a Financial Advisor?

As Physicians you spend a great deal of time and effort to perfect your craft. Because of this time and effort it is very difficult to manage the other very important aspects of your life, including family and money. You work hard to be cutting edge in your profession. To spend significant down time worrying and focusing on your finances may only take away from your family and other activities which you enjoy most.

Just as you are the person who should be treating and diagnosing medical related issues, a qualified financial planner can be very valuable at diagnosing opportunities in financial planning.

Some more specific reasons why engaging a financial advisor can be very beneficial would be:

• A lack of awareness of planning opportunities.
• Helps you to avoid costly mistakes.
• Piece of mind knowing you have a professional looking out for you.
• A structure for providing a comprehensive plan to meet your goals including:
  • Investment planning
  • Retirement plan options
  • Estate Planning
  • College Education
  • Asset Protection (Essential for physicians)
  • Proper insurance coverage
  • Minimize your taxes
• Access to all of the best available and most efficient planning tools.
• Relationships with specialists specific for individual planning needs.
  

How do I select a Financial Advisor?

Finding the right financial advisor for you is an extremely important part of the process. One of the first steps is to find someone who you actually like. Someone who you are not afraid to call or converse with and enjoy working with. Life is too short to not enjoy meeting with your advisors. Your financial advisor is no different.

It is important to spend the time to get to know your advisor. The advising process is most successful when both parties have open communication. For the client, it is essential to be willing to share “all” information and to communicate what is going on in your life. This would not only include your goals, but also any significant changes or your concerns you may be faced with.

As well, it is essential to find an advisor that is aligned with your interests. We believe that a fee based advisor accomplishes this, but please read below for more information on this subject. This day and age, it is not enough to simply be sold a product. It is essential that your entire financial situation is considered when a vehicle is recommended. It is also essential to understand how all the “moving parts” of your finances has an impact on one another. Having someone who can manage this is key.

A couple of good resources for determining if an advisor is right for you would include:

Seven Questions to Ask When Picking an Advisor

Find the Right Financial Advisor

Working with a Fee-only Advisor

Is Resources Planning Group right for me?

This is something that only you will be able to answer based on your goals and desires. Doing your research and due diligence is very important before engaging in any advisory relationship. However, RPG has an extensive history in working with physicians throughout the United States. We are small enough to provide great flexibility, yet large enough to have resources essential to meet your demands. We are the comprehensive fee based advisors that know how to get the job done. We not only understand the intricacies of your personal finances, but we also have great knowledge of the medical world, and private practice.

Whether you are in medical school, a resident, a fellow or in practice it doesnt make a difference to us. We want to help guide you through the difficult times, just the same as when you are established. It is important for us to build relationships with our clients to gain the trust that is essential in financial planning.

Fee-based advising enables us to put ourselves on the same side of the table as our clients. We utilize efficient low cost asset management vehicles, but we also provide advisory services that meet the demands of an ever evolving financial marketplace. We have great relationships with top attorneys and other professionals to assist when necessary.

To learn more about RPG please click here, or contact us today to set up a free appointment!!!