Who we help: Physicians, Dentists and Medical Professionals
If you are a physician, dentist or medical professional, you might have particular interest in our focus on helping you with financial planning and maximizing your net wealth. Practicing medicine requires that you manage your career as a business. However, many physicians have little, if any, time and/or business and financial training or expertise. Your financial security depends on your ability to manage income and expenses, make prudent investments, and provide for personal financial commitments such as lifestyle expenses, education costs and retirement. We have found that you face unique challenges such as:
Our services benefit:
- Delayed Entry into the workforce: Given the length of education necessary, you have had a late start in earning income, which means fewer years of Einstein's eighth wonder of the world - compounding, and although your income potential is high, lifestyle expectations often work against long-term financial security.
- Lack of Time, Effort, Focus: After working long hours, we find that you are not able to devote the time and energy to do proper financial planning. Taking care of, and growing, wealth requires focus, expertise, and time - it does not happen by accident.
- Being Financially Uninformed: You are highly educated and smart, and well-trained in your area of expertise; however this does not translate into being financial planning experts. Contrary to what you believe, the impact of the financial decisions you make may not be obvious, and may, in fact, be detrimental to long-term wealth building.
- Receiving Questionable Advice: It is often salespeople (insurance agents, brokers etc.) who end up providing financial advice to you - and it is often provided "free". But, in reality, you are being most often sold products with high, undisclosed expenses. To help ensure your financial well-being, you (or for that matter, any person) should be asking your financial advisor to "Please sign a statement on your official letterhead stating that you will be a fiduciary to me, act in my best interest, and will fully disclose any fees you earn from our relationship, and any conflict of interest".
Our services benefit:
- Younger physicians - you can benefit from comprehensive financial planning advice - to handle student debt, build a strong financial foundation, and start investing appropriately.
- Mid-career professionals - you can benefit from expert advice that helps you bridge the 8-10 year wealth accumulation gap, compared to other professionals, as a result of your delayed entry into the workforce.
- Retiring physicians - you can benefit from planning strategies that optimize use of your assets, and minimize the estate tax bite.
- Self-Employed Physicians or Small Physician Practices - For physicians who are self-employed or small-practice owners, we can help you maximize your retirement plan benefits and save on current taxes, while also benefiting your employees.
KAI Advisors qualifies for MD Preferred Financial Advisors Network
The National Association of Personal Financial Advisors (NAPFA), the country’s leading association of Fee-Only financial advisors requires every member to sign a Fiduciary Oath. MD Preferred Service Network chose to work with NAPFA and its selected members in the development and launch of the MD Preferred Financial Advisor Network. This program offers more than 831,000 physicians access to financial advisors including NAPFA members (who are fee-only, act strictly in a fiduciary capacity and who have successfully completed NAPFA’s stringent application and review process), as well as CFP firms. Advisors who are affiliated with NAPFA demonstrate a commitment to the highest of ethical standards – a commitment only a fiduciary can make. This commitment matches the commitment physicians make to their patients.
Please check out our affiliations by clicking here.