SERVICES
Keep your financial affairs current through our Wealth MD Program™ client portal.
Overcoming Key Financial Hurdles:
Developing a plan for saving, investing, and protecting money over the course of your career in medicine is one of the most important steps in achieving your ultimate financial and life goals.
Over long periods of time small decisions compound, becoming big differences that can mean the difference in funding your dreams early or just getting by in retirement. It is important early in your wealth building efforts to realize the three main obstacles to financial success for physicians & dentists:
Over long periods of time small decisions compound, becoming big differences that can mean the difference in funding your dreams early or just getting by in retirement. It is important early in your wealth building efforts to realize the three main obstacles to financial success for physicians & dentists:
- Poor planning and lack of coordinated implementation
- Taxes
- Generic strategies that do not account for the unique risks and opportunities encountered by physicians & dentists
Wealth MD Program™
We carefully crafted a physician-specific strategy called the Wealth MD Program™.
- Build and manage your wealth in line with your needs and objectives
- Manage risks to your health, family, assets and practice
- Strategically reduce income, excise, capital gain, gift, estate, and generation skipping taxes
- Assure the continuance of your lifestyle through pre-retirement planning and retirement distribution management
This includes keeping your plan aligned with changes in your personal and professional circumstances as well as external changes in the economy and markets.
Accumulating Wealth for Retirement
A well-thought-out, well-funded retirement strategy begins with adequate plan and preparation.
- 1PLANNING FOR SUCCESSIn retirement planning, it means building a plan that takes into consideration our personal goals and objectives. It may include strategies built around paying off student loans. Children's education savings, income protection, creditor protection, investment management, retirement savings, tax planning and more.
- 2PREPARING FOR THE UNEXPECTEDProper preparation when climbing means having the right equipment to withstand unexpected events such as high winds, storms and avalanches. The same is true for retirement planning. We may face unexpected events such as sickness, disability or premature death while saving for retirement. So we must equip ourselves with tools to manage these unexpected and potentially devastating events.
- 3ACHIEVING RETIREMENT CLARITYFocused planning and proper preparation are needed now more than ever when it comes to building a retirement plan. For physicians with little time to spare, the task may seem too overwhelming and complex. What's missing is a clear process for HOW to build it properly. This led us to create a comprehensive approach for achieving retirement clarity.
The process involves performing a detailed cash flow analysis, which is then used to create a custom plan for achieving your retirement accumulation goals. The process also incorporates the necessary risk management tools designed to protect you from unexpected events that could obstruct your path and hinder you from successfully reaching retirement's summit.
Managing Wealth in Retirement. Simple
The biggest risks facing physicians and dentists occur when they retire and begin to live on their retirement savings. We guide you through an organized process to:
-1-
Effectively transition from accumulating assets for retirement to distributing assets during retirement
-2-
Determine how much income to withdraw each year so you don't outlive your money
-3-
Ensure that your income is protected against the key risks you will face during retirement
As we begin this second half of our financial journey, we are faced with unique and potentially devastating risks such as a volatile market, inflation, liquidity, longevity, health and survivor risks. Those who address these risks will be more likely to safely and successfully complete the journey.
We understand that for physicians with little time on their hands, the retirement income planning process can seem overwhelming and complex. That's why we developed our retirement planning process to integrate seamlessly with our online portal, allowing you to both see the plan and easily monitor your progress along it.
We understand that for physicians with little time on their hands, the retirement income planning process can seem overwhelming and complex. That's why we developed our retirement planning process to integrate seamlessly with our online portal, allowing you to both see the plan and easily monitor your progress along it.
Managing Lifetime Risks
Life is constantly changing. Do the insurance choices you made years ago still make sense today?
Hippocratic Financial Advisors' Lifetime Risk Analysis™ is designed to objectively evaluate your current life, disability, long-term care and property/casualty insurance coverage to determine if your policy, carrier, performance and assumptions are still viable and in line with your goals and expectations. Through this process, we can help you discover whether more cost effective or enhanced coverage is available, or if your need for certain coverage is still viable.
At Hippocratic Financial Advisors, we believe that the best practice is to review your risk management position every year. The Lifetime Risk Analysis™ offers an excellent opportunity to make sure your insurance coverage fits your current needs.
At Hippocratic Financial Advisors, we believe that the best practice is to review your risk management position every year. The Lifetime Risk Analysis™ offers an excellent opportunity to make sure your insurance coverage fits your current needs.
Obtaining the Best Possible Pricing for Insurance
Hippocratic Financial Advisors' Underwriting Advocacy Process™ is designed to increase the potential for obtaining favorable underwriting offers and pricing.
We accomplish this through a proprietary informal underwriting process where we complete 90% of the underwriting BEFORE an application is submitted to an insurance company. This preliminary process enables us to pre-qualify underwriting offers from insurance companies, while protecting your PHI (Personal Health Information) from the MIB (Medical Information Bureau) so that your insurability remains unchanged.
As a result, we are able to deliver the best possible underwriting offers to our clients. Once received, the top offers from various companies are analyzed by our team. We match the best underwriting results to the appropriate product and optimized solution. We then discuss all of this information with you so that you can make an informed decision.
Key to the success of this proactive approach is expert implementation by a world-class underwriting team. Our consulting team includes a licensed physician, and over 60 years of insurance industry experience. Together, they confidentially represent, clarify and coordinate the details of your application with multiple insurance companies throughout the underwriting process.
As a result, we are able to deliver the best possible underwriting offers to our clients. Once received, the top offers from various companies are analyzed by our team. We match the best underwriting results to the appropriate product and optimized solution. We then discuss all of this information with you so that you can make an informed decision.
Key to the success of this proactive approach is expert implementation by a world-class underwriting team. Our consulting team includes a licensed physician, and over 60 years of insurance industry experience. Together, they confidentially represent, clarify and coordinate the details of your application with multiple insurance companies throughout the underwriting process.
Optimizing your Assets
Whether your goal is to maximize returns, minimize volatility or some combination of the two, we can help build and continually manage a portfolio best suited to meet your needs.
At Hippocratic Financial Advisors, we believe that an optimal investment strategy is imperative for any financial plan. Modern Portfolio Theory is a highly disciplined, time-tested process that includes a customized Investment Policy Statement designed to identify the best investment strategy for your situation and answer questions such as:
How your personal portfolio is structured depends on a number of variables that we incorporate into your customized portfolio. These variables include your current stage in the financial life cycle, your risk tolerance, tax situation and investment time horizons. In this way, we are able to manage your money with an equal emphasis on risk management and investment performance.
- Am I taking too much or too little risk with my investments?
- Are my assets divided into different buckets to address different goals and different time horizons?
- Are my investments generating unnecessary taxes?
- Are my accounts being rebalanced so I stay within my risk parameters
How your personal portfolio is structured depends on a number of variables that we incorporate into your customized portfolio. These variables include your current stage in the financial life cycle, your risk tolerance, tax situation and investment time horizons. In this way, we are able to manage your money with an equal emphasis on risk management and investment performance.