Financial Planning

Financial security means something different to a first year attending or a mid-career practitioner, so we offer a modular approach to financial planning for doctors as they move from training toward retirement. Each financial plan is a written document containing a blueprint for how to get on track, including:

  • Aim — a precise statement of your goals
  • Awareness — a review of the facts and key assumptions in your plan
  • Analysis — an evaluation of your options and alternatives
  • Advice — steps you can take to move toward your goals

All of our financial plans come with Annual Checkups so you can see your progress and make adjustments to stay on track.

Financial Consulting

Even a doctor needs a second opinion every now and then. That’s why we offer unlimited access to a dedicated Certified Financial Planner™ who can answer questions, solve problems and encourage your progress. Financial Consulting is coordinated with your tax specialist, your legal counsel and gives you referrals to reputable insurance agents and bankers who have experience serving physicians. Financial consulting includes help with:

  • life insurance
  • mortgages & HELOCs
  • practice buy-ins
  • self-employment & locums
  • Social Security & Medicare
  • student loan consolidation & refinance
  • banking
  • budgeting
  • charitable giving
  • disability insurance
  • estate planning
  • income taxes

Investment Guidance

Some physicians want to handle their own investments but nobody wants to make a costly mistake. Investment Guidance gives you the framework you need to manage your own accounts plus specific mutual fund recommendations for each of your accounts. Investment Guidance includes:

  • Risk tolerance measurement
  • Asset allocation targets
  • Investment policy statements

Portfolio Management

As a doctor, most of your investments are tucked away in tax-sheltered retirement accounts or college savings plans where the typical advisor cannot take care of them for you. Portfolio Management offers professional management for all your accounts no matter where they're held: HSAs, 529s, SEP-IRAs, backdoor Roths,and solo-401ks. Portfolio Management saves time with signature-ready paperwork to open accounts and consolidate scattered accounts., Portfolio management includes:

  • account maintenance
  • securities selection
  • placing trades
  • account rebalancing
  • tax loss harvesting
  • performance reports

Portfolio Management relies on a long term buy-and-hold approach using low-cost mutual funds and services from companies including:


Frequently Asked Questions

What if I don't know anything about personal finance?
No problem. We are happy to begin at the beginning, starting with what you understand and building from there, educating you as we move forward together.

Do I really need a financial planner? Can't I figure this out on my own?
If you have the keys to personal finance success—knowledge, skills, experience and energy to handle your own finances—it would be silly to pay a professional to do it for you. However, if you are missing even one of those keys, it makes sense for you to hire us to make the process faster, simpler and better for you.

Will Physician Family manage my investments?
Yes, but only if you want us to. We can manage all your accounts or you can manage all your accounts or a little of both. In fact, you can even hire us as your primary financial planners and let someone else (including robo-advisors like Betterment) manage your accounts for you. As financial planners for doctors, our primary concern is to see that your investment portfolio supports your ability to become financially secure.

Do you have a minimum investment?
No. We are prepared to take care of all your accounts, regardless of size.

I have a Fidelity 401k. Can you manage that?
Yes we can. We manage Fidelity 401k, 403b, 457b and 401a accounts for many clients.

I own Vanguard funds. Can you help with those?
Yes, in three ways! If you already have a relationship with Vanguard, we can manage those funds via limited power of attorney. Or we can give you recommendations about which Vanguard funds to own and you can manage your accounts yourself. If you want us to manage your accounts for you at TD Ameritrade, we can use Vanguard funds in the accounts you hold there.

I have heard that DFA Funds are good. Do you use DFA Funds?
Yes, we do use mutual funds offered by Dimensional Fund Advisors (DFA). These funds are only available in accounts we manage for clients at TD Ameritrade Institutional.

What about my 529 plan? And my health savings accounts? Can you manage those?
Yes. In fact, we can manage any account with a login. However, to keep you safe, we will not manage an account that might give us the ability to withdraw funds. In those cases, we can help you move the account to a place where we can safely manage it for you, or give guidance about how to manage it yourself.

I want to manage my own investments. Can I still be a client?
Absolutely. If you want us to act solely as your financial planner, we can do that while you manage your accounts yourself. Some married couples engage us this way as a "backup plan" in case the investment-wise spouse dies or becomes incapacitated. 

Where will you keep my money?
For your security, we do not hold or “take custody of” your money or your securities. You are free to open an account at any financial institution. If you ask us to manage your IRA or taxable accounts for you, we prefer to use TD Ameritrade because it makes our work easier. They offer great service at a low price so you can keep more of what you earn.

What happens to my accounts if I terminate my relationship with Physician Family?
Your accounts are always yours. You keep your accounts and the money that’s in them.

More questions? Contact us