Paul's Answers

About the Advisor

What are your qualifications and certifications, and how do you think these matter for physicians?

• I've earned the CERTIFIED FINANCIAL PLANNER™ (CFP®) and Chartered Financial Consultant (ChFC®), which gives me broad training across all areas of financial planning. I have also earned the Chartered Life Underwriter (CLU®), which gives me critical expertise in insurance and practice-owner risk management planning. 

What percentage of your clients are physicians or physician practice owners?

• About 90% of my clients are physicians, so I am very in-tune to some of the most fundamental challenges physicians face. I serve a variety of employed physicians and physician practice owners.  

How many years have you worked directly with clients facing complex medical careers?

• I technically started seeing clients in 2007, and I have been working primarily with physicians since about 2009.

What unique challenges in physician finances have you helped solve?

• There are certainly several unique challenges, and they range from student loan management (payment and forgiveness), contract and income management, income tax planning, risk management and insurance policy reviews, qualified plan management, and physician practice financial planning.

Fiduciary Responsibility

Are you always legally required to act as a fiduciary across every account and product?

• Yes. As as CFP® Professional, we make a fiduciary promise in our ethics agreement, and we update the promise annually.

Are there times when you’re not a fiduciary? If so, when?

• No - I always operate as a fiduciary.

Do you have an agent relationship with an insurance company or a revenue sharing agreement with any product companies? If so, do you have any sales requirements or contract quotas?

• No.

Compensation

How are you compensated?

• I primarily receive compensation through fees for financial planning and investment management. In some cases, an insurance product may be appropriate, which could result in a commission; this is the exception, not the rule.

Beyond what I pay you directly, what incentives or payments could influence your recommendations?

• I don’t receive revenue-sharing from fund companies, and I don’t use proprietary products. I also have no insurance agent contract or captive relationships. I’ve minimized conflicts of interest to the greatest extent possible.

Do you receive compensation or incentives from third-party providers, such as fund companies or insurers?

• No.

Services

Describe the services you provide.

• I provide financial planning and investment advice services for physicians. 

What is your planning process, from our first meeting through ongoing advice?

• While every plan is personalized, I follow a structured process that ensures we cover everything from cash flow and taxes to insurance and long-term goals. You can see the full breakdown of my approach here.
  

Can I work with you without transferring all my assets or buying specific products?

• Yes.  

How have you tailored your financial strategies to physicians at various stages?

• For residents and transitioning physicians: I help physicians avoid costly early-career mistakes by reviewing employment contracts, evaluating benefits, structuring student loan repayment, and setting up a foundation for tax efficiency.
• Mid-career physicians: As incomes rise and complexity builds, I focus on advanced tax strategies, asset protection against malpractice and business risks, estate planning for growing families, and coordinating risk management across insurance and investments.
• Pre-retirement physicians: I guide physicians through exit planning for practice ownership, estate design to protect generational wealth, and retirement income planning to ensure they can transition confidently from practicing medicine to financial independence. 

Do you coordinate with other professionals, such as a CPA, attorney, practice consultant, etc.?

• Yes. I coordinate with any key advisor you already have. If you don't have a certain key advisor you like and trust, and you need one, I have several key advisors to refer to you.

Investment Philosophy

Can you plainly describe your investment philosophy?

• We follow a Core and Satellite approach to portfolio design. This structure allows us to balance long-term discipline with flexibility, customization, and opportunity. There's more information in the Investment Management section here.

How do you build investment strategies that benefit physicians specifically?

• Investment strategies for physicians usually revolve around tax management and asset protection. Combining these two elements plays into the long-term financial plan for many physicians.

What's your approach to risk management, and how could that impact physicians specifically?

• My initial approach to risk management is to protect physicians from catastrophic risks beyond their control, such as lawsuits, income loss, or career-ending injuries. That means transferring catastrophic risks to insurance companies through the right coverage. Beyond insurance, I help structure practices and estates to shield assets, and design portfolios that balance growth with downside protection. Just as important, we plan for when certain policies are no longer needed, so you aren’t overpaying later in life.

Are you familiar with which accounts provide asset protection?

• Yes. Asset protection is a key part of every physician’s financial plan. I use a mix of retirement accounts, corporate entities, and insurance strategies to help safeguard assets against lawsuits and other major risks. 

Do you utilize proprietary funds or products?

• No.

Communications

Will I work directly with you or someone else?

• You will work and communicate directly with me.

How often will we meet or talk? What happens if I need help between meetings?

• When we first start working together, we will likely meet a few times to gather information and develop financial priorities and goals. Once we have a working plan in action, we meet quarterly, unless more communication is needed. If you need to chat outside of our regularly scheduled meetings, you can use my scheduling link to schedule a time.

Do you proactively reach out during major tax law changes or market volatility?

• Yes. If there is an outside factor, such as a law change or a market opportunity, you will receive a call from me.

How do you keep clients updated on their progress?

• I give my clients access to a financial planning portal, where accounts from various institutions can be imported for viewing in one convenient and secure location. 

Still have questions? Feel free to schedule a no-pressure virtual meeting to talk through your situation!