Financial Planning

Be confident in your personal financial decisions.

Caring for your patient is a comprehensive approach.

Your lifestyle is provided by the hard work you put in daily to care for your patients. With so many different approaches to financial planning, we model our financial planning process with the same intentionality you do with each patient.  

On a case by case basis, we strive to understand each individuals’ work/life balance. While searching for a financial advisor there are a few things to consider;

  • FiduciaryWork with someone you can trust and has your best interest in mind.
  • Find an independent advisor and not a captive advisor Independent advisors work for you, captive advisors work for the company that employs them.
  • Personalized recommendations Our advisors won’t make blanket recommendations based solely on your status as a physician.

Fiduciary

What is a fiduciary when you are talking about financial planning? Not all advisors are fiduciaries. Advisors who act as fiduciaries are legally and ethically obligated to make recommendations in the best interest of the client. Our financial advising relationships are built around educating physicians on the strategies that make their individualized plan.

A fiduciary’s responsibilities or duties are both ethical and legal. When a party knowingly accepts a fiduciary duty on behalf of another party, s/he is required to act in the best interest of the client.

Independent Advisor

The best way to describe the importance of our independent status is to view our industry as a triangle. Every time a consumer works with a financial advisor of any kind, there are basically three elements involved in that relationship. There is the client, the advisor, and the company.

When someone decides to become an advisor, they have two choices in approaching the business. 1. They can choose to be a career or captive advisor. 2. Or they can be a completely independent advisor. There is a very important difference between the two.

When someone decides to be a career or captive advisor, it means they are affiliated with one large company. These are the big name companies you likely hear about; they help their advisors through name recognition. When someone becomes a career agent they are essentially an advisor loyal to that big company. They sell only that company’s products to their clients. This lack of options is not in the best interest of the customer.

A more difficult road to travel is to become an independent agent without ties to any particular company. When a firm like Physicians Thrive chooses to be independent, we lose brand awareness but have the flexibility to truly offer the best options to our clients.

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For over 30 years, the expertise of our advisors has benefited thousands of physicians at over 400 medical centers, hospitals, and medical schools, which includes over 1,000 residency and fellowship programs, encompassing all specialties.

Here is a partial list of the institutions at which our clients serve:

University of Chicago Pritzker School
weill
UC SAN DIEGO
Perelman
UCSF
UW Medicine
vanderbilt
Washington University in St. Louis
Yale University of Medicine

Request a Consultation

Fiduciary

What is a fiduciary when you are talking about financial planning? Not all advisors are fiduciaries. Advisors who act as fiduciaries are legally and ethically obligated to make recommendations in the best interest of the client. Our financial advising relationships are built around educating physicians on the strategies that make their individualized plan.

A fiduciary’s responsibilities or duties are both ethical and legal. When a party knowingly accepts a fiduciary duty on behalf of another party, s/he is required to act in the best interest of the client.

Independent Advisor

The best way to describe the importance of our independent status is to view our industry as a triangle. Every time a consumer works with a financial advisor of any kind, there are basically three elements involved in that relationship. There is the client, the advisor, and the company.

When someone decides to become an advisor, they have two choices in approaching the business. 1. They can choose to be a career or captive advisor. 2. Or they can be a completely independent advisor. There is a very important difference between the two.

When someone decides to be a career or captive advisor, it means they are affiliated with one large company. These are the big name companies you likely hear about; they help their advisors through name recognition. When someone becomes a career agent they are essentially an advisor loyal to that big company. They sell only that company’s products to their clients. This lack of options is not in the best interest of the customer.

A more difficult road to travel is to become an independent agent without ties to any particular company. When a firm like Physicians Thrive chooses to be independent, we lose brand awareness but have the flexibility to truly offer the best options to our clients.

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