Wealth Management for physicians

Securing your financial future and maximizing your practice’s potential.

Wealth Management services for physicians

Our specialized wealth management for physicians and their families means you can focus on what’s really important. BPM’s personalized strategies for investing, retirement and tax planning, estate planning, and insurance coverage are designed to build your wealth, preserve your assets and minimize taxes. We’ll help you achieve financial success and build a more comfortable future.

Investment Management – Higher tax brackets, time constraints and the complexities of balancing practice growth with personal financial goals call for a sophisticated approach to strategic, tax-efficient investing. With a deep understanding of your needs and life goals, we’ll develop an investment strategy tailored to your unique financial situation.

Retirement Planning – Retirement planning for medical professionals can be complicated by a relatively late career start and substantial student loan debt from medical school. At BPM, we match a certified financial planner with our physician clients to develop a retirement plan that will support their desired standard of living in the future while enabling them to enjoy the present.

Insurance – High income replacement needs mean that the right insurance plan is vital. We provide physicians with a full-service insurance offering, including reviews of existing life insurance policies and life settlements, disability insurance and long-term care insurance, annuities, and related financial planning.

Qualified Retirement Planning – For physicians who own practices, we establish or amend executive benefit plans, advise on implementing retirement plans that can attract and retain employees, and help them develop comprehensive and secure succession plans.

Why BPM for wealth management

BPM’s Wealth Management specialists partner with physicians like you to achieve financial independence. Our financial advisors work closely with you to understand your personal and professional financial goals, and our suite of services allows us to coordinate all aspects of your finances in support of your goals. Together, we create a customized financial plan that addresses your specific needs.

The physicians we serve

Our clients are distinguished by their deep commitment to their professions. Many have dedicated their careers to building thriving practices. Now, they look forward to the day they can work when and if they want to.

They seek financial advice about how much equity they should have in their practice, how to balance risk and growth, and how to benchmark their practice against their peers. Having spent years building their net worth, the physicians we serve want to protect their assets and families. And they may dream of creating a lasting impact by funding philanthropic endeavors, establishing educational trusts or ensuring generational wealth transfer.

Our wealth management services for physicians support your goals in achieving a better financial future for yourself, your family and your community.

Why wealth management is important for physicians

Physicians are among the most highly compensated career groups in the United States. They face unique financial challenges, such as managing accumulated wealth, planning for a secure retirement, and dealing with the complexities of estate and tax planning at higher wealth brackets. Given their substantial assets, the stakes are higher and the financial landscape more complex, calling for specialized wealth management.

For physicians engaged in partnerships or ownership of their private practice, wealth management extends beyond personal finance to include the financial health of their business. This involves navigating complex tax landscapes to maximize after-tax income, optimizing investment portfolios in line with personal risk tolerances, and ensuring efficient practice valuation and succession planning.

Sound wealth management for physicians not only safeguards your financial wellness but also provides you the freedom to step back from active practice when you wish — without compromising your lifestyle or financial security.

High income, high tax liability

Because physicians typically fall into higher tax brackets, they face challenges that can significantly impact their financial health. Effective wealth management strategies are essential for maximizing earnings while minimizing tax liabilities. These include leveraging tax-advantaged savings options, such as retirement accounts and tax-efficient investment opportunities.

You may not fully capitalize on your earning potential without appropriate wealth management tailored to your individual goals.

Asset protection

Given the high liability associated with the medical profession, healthcare providers may be at risk for legal challenges that threaten their financial stability. Effective wealth management for physicians includes implementing a financial strategy to safeguard your assets from potential lawsuits or claims. This involves structuring your investments and property ownership in ways that offer legal protection while maintaining adequate malpractice and liability insurance.

By focusing on asset protection within your wealth management plan, you can ensure your hard-earned assets are secure, allowing you to practice with greater peace of mind.

Retirement planning

With a delayed start to their careers, medical professionals often have a shorter time frame to accumulate retirement savings. Additionally, their high-income levels require a larger retirement fund to maintain their lifestyle post-retirement.

Effective wealth management helps physicians take advantage of tax-deferred and tax-efficient investment opportunities. By maximizing your contributions, you can ensure that your investments are aligned with your retirement goals, risk tolerance and time horizon.

Investment advice

Physicians are busy individuals. Not all of them want to spend precious free time studying finance and researching investment options, especially given the complexities of practice management, mitigating high taxes and ensuring a comfortable retirement.

Our wealth advisors can provide you with tailored financial solutions, ensuring your wealth is managed efficiently and grows steadily, while allowing you to focus on your work and family.

Client Relationship Summary

Securities through Valmark Securities, Inc., member FINRA, SIPC. Investment Advisory services are offered through BPM Wealth Advisors, LLC and/or Valmark Advisers, Inc. a SEC Registered Investment Advisor, with address of 130 Springside Drive, Suite 300 Akron, Ohio 44333-2431, and telephone number +1 (800) 765-5201. BPM LLP and BPM Wealth Advisors, LLC are entities separate from Valmark Securities, Inc. and Valmark Advisers, Inc.


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