For Medical Professionals
Financial Planning for Doctors & Dentists in All Stages of Their Careers
Knowledge is only half the value we provide for our clients. The other half is our ability to listen, to understand your needs and develop custom solutions to give you more financial clarity. Financial planning is a structured and calculated process. It serves to direct all aspects of an individual’s or family’s financial capacity, ensuring the strategy is working cohesively and aligned with the intended objectives. The overall goal is to utilize varying risk management, wealth management and asset management strategies to pursue your financial independence. We firmly believe the discussion must begin with a thorough review of your personal and professional goals. We will explore your current situation and available financial choices taking in to account your lifestyle and budget . A good financial plan should provide guidance, direction, and give you confidence. Financial planning also requires proper review and updating your plan on a systematic basis.
Financial planning for physicians involves unique challenges that are not addressed in traditional financial planning such as getting a career started on a path to financial stability with debt repayment strategies, employment contract review and disability income insurance planning
Financial Planning Fees*
Financial planning fees range from $500 to $1,500 for a simple plan to $10,000 or more for more complex and detailed plan. However, initial consultations are always complimentary. After your first meeting with us you will receive a financial planning engagement letter that will indicate the costs, if any, of the services, along with the scope of your relationship with your advisor. There are no surprises.
Wealth Management Fees**
Our wealth management services provide professional management of your investment portfolio when you don’t have the time or expertise to properly manage it. Wealth management costs are asset-based. Your asset fee could potentially decrease over time as your assets grow or you contribute more to your managed money account and reach a higher benchmark with your chosen wealth management plan.
*This description of services and sample fees is provided for informational purposes only. The specific services to be provided and fees to be charged to each client are negotiated with each client and set forth in a written agreement with LPL Financial and accompanying fee schedules. Clients should refer to their written agreement with LPL Financial and accompanying fee schedules for definitive information regarding the services they are entitled to receive and the fees they will pay for those services. For additional information on services and fees, clients should also review LPL Financial's Form CRS and applicable Forms ADV Part 2A,
**This reflects the Adviser Fee that we typically charge in connection with clients' fee-based investment advisory accounts in LPL Financial sponsored investment advisory programs. It does not reflect any other fees that clients will be charged when applicable, including, but not limited to, Sponsor Fees, Firm Fees, Broker-dealer and Custodian Fees, Strategist Fees, Manager Fees, Overlay Services Fees, applicable trading, execution, or brokerage service fees, or internal investment product fees (e.g., 12b-1 fees on mutual funds). Clients should refer to their written agreements with LPL Financial and accompanying fee schedules for definitive information regarding the fees they will pay and the method of calculating such fees. For additional information on applicable fees, clients should also review LPL Financial's Form CRS, applicable Forms ADV Part 2A, and applicable Total Program Fee Guide, all of which are available at www.lpl.com under Disclosures