14 reasons we believe dentists should work with dental-focused financial advisors.

We feel advisors who know and understand the dental industry can provide unique insight into the complexity of a dentist’s financial future. Here are some of the reasons we feel that a dentist would want to work with someone who understands their special needs.

• 1Organization

  Dentists are often involved with multiple entities. We understand how to organize these into a financial plan that helps provide clarity to his or her practice and personal finances.

• 2Unique Issues

  Dentists deal with a number of unique financial issues (compliance, tax, legal, risk management, etc.). An advisor familiar with these can help them keep their financial affairs in order. Please note as advisors we do not provide legal or tax advice.

• 3Professional Network

  Financial advisors are connected to a variety of professionals whose services may be helpful to our clients.

• 4Benefits

  Advisors with experience working with dentists can help maximize retirement and insurance benefits.

• 5Planning

  Financial advisors with experience in the dental world can help maximize retirement planning strategies based on dental practice.

• 6Avoidance of Comingling

  Dentists’ personal finances are often co-mingled with the finances of their practices. This can create an uneven personal balance sheet and can ultimately lead to insufficient wealth accumulation outside the dental practice.

• 7Leveraging Practice Value

  Understanding the value of a dental practice early on and its relationship to the expenses of a typical dentist’s lifestyle can be a huge benefit in helping him or her become financially independent.

• 8Lifestyle

  Understanding the lifestyle many dentists enjoy and how to work towards maintaining that lifestyle during retirement years may drive many financial decisions that might be overlooked by an advisor with less experience in the dental field.

• 9Transition Planning

  We believe an advisor who has experience working with dentists has a thorough understanding of common transitions such as working in someone else’s practice, purchasing and/or growing his own practice, expanding, and ultimately transitioning into retirement. That understanding can be put to work early in a dentist’s career.

• 10Accountability

  One barrier to building wealth for dentists is lack of follow through on financial commitments. An advisor experienced in working with your profession can work with you to prioritize your goals. He can also regularly review your progress towards achieving your goals and help keep you on task.

• 11Objectivity

  Along the same lines, an experienced advisor can also help you avoid emotionally-driven decisions by being available to consult with you during key moments of the decision-making process.

• 12Proactivity

  Experienced advisors can help anticipate your practice and life transitions, so you can be financially prepared for them. They can work with you to create the action plan necessary to address and manage these transitions ahead of time.

• 13Education

  Advisors with dental experience can provide you with the specific knowledge that is designed to help you succeed financially, by first thoroughly understanding your situation, then providing the necessary resources to facilitate your decisions and by clearly explaining the options and risks associated with each choice.

• 14Coaching

  An advisor with experience in the dental field can become your coach, helping you pursue your financial goals with the income you earn in your practice. We believe it takes someone who understands your background, philosophy, needs and objectives to help you.