Corporate executives and professionals

Being an executive, doctor, lawyer, sports or other professional is a well established path to the American dream. Your careers are characterized by transition, challenge, and reward and overnight income leaps with the ability to begin actively pursuing personal dreams and financial goals becoming a present reality. However, your success makes you a target as well, so it is important to work with an advisor who specializes in financial planning for executives, doctors, lawyers, and professionals to not just preserve your wealth, but grow it.

Our founder represents both a medical/practicing physician and attorney family. When you work with us, you benefit from the same strategies we personally employ. Between the demands of leading your company and managing your own complex personal finances, it’s natural to want to ensure your assets are working optimally for you. We have created an efficient, consultative process to evaluate your situation, assess your risk tolerance and to tailor holistic strategies.

We are extensively trained, and well versed in financial planning for executives and professionals in all stages of their career. We understand the challenges you face, and have been executives ourselves. That gives us the personal and not just academic experience to find solutions for concentrated stock positions and strategies designed to protect your family and legacy. Our experience extends to all types of executive transactions, equity-based compensation, company trading policies, and regulatory requirements that impact transactions in company stock. When you work with us, you benefit from our network of professionals (CPAs, attorneys, etc.).

Residents, fellows, and early career attorneys

Residents, fellows, first year attorneys, etc. need to chart a path for loan repayment, determining whether public repayment, loan forgiveness or private consolidation platforms are the best match for their intended career path. Exploring options for near-term savings goals, disability coverage, life insurance, and IRAs are all planning areas that residents and fellows should begin considering. Building a relationship with a financial advisor for physicians, who understands financial planning for medical residents is a great starting point to addressing the unique decisions at this stage.

In practice

As an attending physician or pre-partnership attorney, financial plans truly begin to take shape as assets grow, school debts are paid down, and you progress to stated goals. However, professional and personal demands remain and the time frame for meeting goals becomes limited. It becomes all the more important to involve professional financial, tax, and legal advice along the way to make sure efforts stay on course.

With proper savings habits established, planning shifts to ongoing portfolio monitoring. It’s important to complete regular reviews of the asset and account mix to make sure investments remain properly diversified and aligned with overall timelines. Retirement projections should be developed which will inform ongoing investment and savings levels, and allow for reasonable adjustments based on anticipated results. This holds true for educational savings accounts should they have been introduced to the plan.

It’s also at this stage where it makes sense to meet with an attorney to ensure legal documents are in proper order. This may compel changes to the insurance portfolio. It is advisable to add coverage where necessary when exposure remains, or begin to shift the insurance portfolio to address risks as they change. For example, it may be time to move from disability coverage to a long-term care policy to better preserve assets through retirement, or fold in additional life insurance coverage to meet estate, charitable, or tax planning needs.

Practice owners

For those physicians and attorneys that have the opportunity to own or partner within a practice, an already unique situation is compounded by additional levels of complexity. In addition to managing and planning for one’s household and family, a practice owner will be faced with assuming and paying the debts associated with the business, as well as determining the growth and direction for the practice. Owners will be tasked with developing a benefits package and establishing retirement plans. Planning for the tax structure of the practice, and integrating this with personal tax filings, while also taking strides to properly separate personal assets from practice and business related liability takes thoughtful planning.

Working with us, we will create a uniform map for the direction of your business, coordinating and complimenting the efforts of your tax and legal team. Your time is freed up to focus on what really matters as you attend to the needs of your clients and patients, while also growing your business, another important piece of your financial portfolio.

Services include:

  • Wealth planning & investment management
  • Banking & lending solutions (through our custodians)
  • Insurance & annuities
  • Tax planning
  • Estate planning
  • Charitable giving
  • Risk management

Services geared toward executives include the above and the following:

  • Executive transactions
  • Cashless stock option exercises
  • Rule 144 executions
  • 10b5-1 sales plans
  • Hedging and monetization of concentrated equity positions