I estimate that 80% of doctors need, want, and should use a financial planner and/or an investment manager. Some investment gurus such as William Bernstein, MD, think my estimate is way too low. At any rate, if you want to use an advisor temporarily or for your entire life, there is no reason to feel guilty about it,–just make sure you are getting good advice at a fair price. On this page I list vetted, recommended firms that I think offer good advice at a fair price. See the bottom of the page for more details on the vetting.

#1 Wrenne Financial Planning

At Wrenne Financial Planning, our passion is helping physicians use money to live better lives. I’m sure everybody wants that. But how do you get there? Financial planning is the key. And we’re here to help you work through the process. Through conducting thousands of meetings with physicians all across the country, we’ve gotten pretty good at it. All of you are 100% capable of doing this yourself. But you don’t have to. We’re here to help you gain knowledge, save time and ultimately focus on what’s really most important.  Our pricing is transparent and services are flexible and cater to DIY types, outsourcers and everything in between. Feel free to schedule a free 30 minute consult here.

Also make sure to check out the Finance for Physicians podcast hosted by WFP founder Daniel Wrenne.

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#2 CMG Financial Consulting

Clint Gossage CFA, CFP®, CPA, has been married to a Surgical Oncologist for the past 15 years and has experienced first-hand the ups and downs on the journey from undergrad to becoming an attending.  After helping friends in medical school, residency and fellowship with their finances, he left a high-paying job, managing the investments at a multi-billion dollar family office, to start CMG Financial Consulting. He has been helping physicians and medical professionals ever since to get out of student loan debt, save money, invest in tax efficient strategies, manage and protect their assets and give them back their most scarce resource…time.

 

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#3 TrueNorth Wealth/Idaho Medical Association Financial Services

At TrueNorth Wealth, integrity and our commitment to our clients come first. We stay true to our clients’ direction and wealth—not ours. We pride ourselves in being a fee-only firm and a fiduciary on every relationship. We advise on our clients’ entire financial picture – true comprehensive planning. By coordinating investment, retirement, estate, tax, insurance, and small business planning, we ensure every financial aspect of your life works in synchrony to your best interest. Regular reviews of financial plans allow us to foresee potential problems, give advice based on the current economic climate, and plan for any major life changes.

We have two TrueNorth Wealth offices in Utah, located in Salt Lake City and Logan. We also have an office in Boise, Idaho, doing business as Idaho Medical Association Financial Services but we work with clients across the country.

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#4 Physician Family Financial Advisors Inc.

Physician Family Financial Advisors helps doctors with children save taxes while investing for retirement, saving for college and obliterating student loans. As financial advisors go, Ben Utley is the real deal with 20 years of experience, now serving more than 130 physicians nationwide virtually from their headquarters in Eugene, Oregon. I like the fact that they handle everything from student loans to retirement to tax advice to investing for a flat fee. Schedule a free consultation at PhysicianFamily.com.

#5 Panoramic Financial Advice

Panoramic Financial Advice is a virtual, fee-only financial planning firm specializing in younger physicians and physician families. Panoramic offers an end-to-end financial services package, and provides a trustworthy, experienced approach to reaching your and your family’s goals. Founder Andrew McFadden, CFPâ, MBA, has been serving young physician families for over eight years, and is sought out by residency programs to speak and educate young physicians. His well-developed planning method helps young physicians achieve that coveted balance of preparing well for the future, while being able to enjoy the present. To schedule an introductory call, please click here or email the Director of Client Services, Crista Newman, directly at [email protected].

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#6 Aptus Financial

At Aptus, we have witnessed the incredible shift to Do-It-Yourself financial planning and investing by the physician community and have built a service to support people on varying points of the DIY continuum. We believe most people can DIY their finances, which not only mitigates fees but also instills a greater sense of control and leads to better decisions and outcomes. Aptus starts with a comprehensive, guided planning process for most clients or a more limited review for experienced, confident DIYers who want to validate their current plan. Aptus has designed hundreds of financial plans for physicians and is well-versed in their unique planning needs,, including student loan repayment strategies, cash flow prioritization, and risk management. Once a solid plan is in place, we teach our clients to invest on their own or offer the option to invest for them until they feel ready to take it on themselves. Either way, Aptus provides ongoing support and guidance. Aptus’s mostly flat-fee pricing is designed to eliminate conflicts of interest and foster transparent, objective advice from planners who are highly educated, experienced and credentialed. For clients who would like to learn more about Aptus, we conduct free introductory calls.

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#7 Fox & Company Wealth Management

pay off student loans quickly

Johanna Fox Turner, CPA, CFP®, RLP® Johanna is the founder of Fox & Co. CPAs and Fox & Co. Wealth Management. Both firms use a flat fee structure for year-round planning, investment management, and tax services for physicians and dentists. 90% of our business is virtual and you can be 100% certain you’re working with a fiduciary. Johanna has 36 years of experience advising business and HNW clients on wealth protection and holistic financial planning, including tax strategies, estate planning, business operations and succession planning. For experienced, coordinated advice under one roof, schedule a free consultation with FWM’s team here.

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#8 Integrity Wealth Solutions

Integrity Wealth Solutions (IWS) is a tiered flat-fee asset management and financial planning firm focused on helping physicians, dentists, individuals and small business owners in a transparent and equitable manner. We adhere to low-cost, tax-efficient portfolios based on the client’s comprehensive financial planning goals.  We have helped numerous client’s in all stages of life and are a great solution for those that don’t want to do it themselves or pay the high cost of hiring a traditional financial advisor. Our wealth management fees range between $1,250 to $3,750 a quarter, which includes both investment management and financial planning. We are excited to see how we can help you! Please contact Justina Welch or Clint Thomas for a complementary consultation.

 

 

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#9 WealthKeel LLC

Wealthkeel’s specialty is financial planning and investment management for you, Gen X & Gen Y physicians and your family. Together, we will navigate the complexity of everyday life by crafting a streamlined financial plan that is agile for your evolving needs. We will help you utilize your wealth to free up time and energy to focus on your family, your practice, and what you love most.

Chad Chubb is a Certified Financial Planner (CFP®) and Certified Student Loan Professional (CSLP®). He has been quoted by Medical Economics, American Medical Association, and CNBC for his work with physicians. He founded WealthKeel LLC to simplify and organize the financial lives of physicians across the United States by custom-crafting financial plans centered around their goals and values. WealthKeel is recognized by The White Coat Investor as one of a few select firms labeled as “a good financial advisor at a fair price,” for their flat-fee subscription model and also their capped fee structure.

 

 

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#10 Physician Wealth Services

When my wife was in residency, I witnessed how vulnerable she was to poor financial advice. I was shocked at how many advisors tried to take advantage of her and her peers. It’s the reason I started my fee-only practice, Physician Wealth Services, to work exclusively with physicians who could truly benefit from unbiased, quality financial advice.  I help physicians create a life they love using the resources they have. To help them feel in control of their money, the same way that you make a patient feel better about their health. Also, I host the Financial Residency podcast, a free resource to help increase your financial literacy. Come join the community! Here is the podcast interview I did with WCI in September 2018.

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RFK Capital Management

Samalin Investment Counsel

Solari Financial

SwitchPoint Financial Planning

Targeted Wealth Solutions

Three Oaks Capital Management

Wealth Care LLC

Your Richest Life

APM Wealth

Botto Financial Planning & Advisory

Caligiuri Financial

CarsonAllaria Wealth Management

Century Wealth Management

Eagle West Group

Enlight Financial

Fisher Financial Strategies

Forward Thinking Wealth Management

Foster Group

FPL Capital Management

Mayport Wealth Management

Navigo Wealth Management

Old Peak Finance

Ols0n Consulting

Personal Choice Financial Advisors

The Planning Center

  • Services: Financial planning, investment management
  • Fee Structure: AUM fee + income-based fee
  • Locations: New Orleans, LA; Chicago, IL; Minneapolis, MN; Quad Cities, IA/IL; Tulsa, OK; Fresno, CA; Anchorage, AK
  • Additional Information, Application, ADV2
  • Website, [email protected],  (504) 717-4862

Plumtree Financial Planning

Pulse Financial Planning, LLC

The Vetting Process

Best Financial Advisors for DoctorsThe advisors/firms on this page are all paid advertisers, however, I did not list them (nor accept money from them) until they passed my vetting process. Prior to November 2015, this vetting was a review of their website, their ADV2, and a few emailed questions to clarify how they did business. Beginning in November 2015, I require an application (see bottom of the page) that you can review to help you decide who to hire. The application also helps me to standardize the approval process. The vetting process continues after the advisor is listed here as white coat investors who use their services let me know about their positive and negative experiences. Why do I charge a fee to be listed here? Two reasons:

  1. The vetting process takes time and energy and only about 1/3-1/4 that I go through the trouble to vet actually ends up listed here and
  2. This page of the site, like the entire rest of the site, is a for-profit business. If you want to start a website where you vet and list recommended financial advisors for free, be my guest.

You should be aware that although there are many good advisors and good firms, I have yet to find a perfect advisor and deciding who can and cannot be listed here is one of the most difficult things I do on this website. I have turned down a number of advisors that I consider well above average. (I routinely turn down most of the advisors that apply to advertise on this page.)

Remember that financial planning and investment management is expensive stuff and you should expect to pay thousands per year for it, although many of the advisors on this page are some of the cheapest options out there.

How to Choose A Financial Advisor From This List

Some readers have asked me what is the best way to choose an advisor from this list. Rest assured that there are no bad choices here. All of the advisors listed here give good advice at a fair price. The first ten firms have purchased premium listings, that is why they are listed at the top of the page and their listings have more bells and whistles. That doesn't necessarily mean that I endorse them over other firms on the list. All of the firms have passed my vetting process. Financial planning and investment management is a lot “squishier” than a more simple one-time transaction such as purchasing an insurance policy, refinancing your student loans, getting a mortgage, or having a contract reviewed. Although some of the advisors here will do a one-time second opinion or cover some limited questions for a one time fee or at an hourly rate, most are far more interested in a long-term relationship helping you to reach your financial goals. As such, a good fit between you and the advisor is essential.

I recommend you read through the descriptions of each firm and pick a handful that seem to be offering what you are looking for. Spend a few minutes on each of their websites and read through their linked application if available. If what you are reading sounds good to you, shoot them an email or call them up and schedule a time to meet with them in person or virtually (as all the advisors on this page will take any client in any state.) If you have a particularly good or bad experience, I would love to hear and incorporate your feedback on this page.

Advisors- Would you like to be included on this list?

Completely fill out the application below and send it to [email protected] (CC me at [email protected] to speed things up if you like.) Expect the application to be available to readers if you are approved and purchase a listing. We'll get back to you in a few days with an approval decision and pricing.
Application for Financial Advisory Listing