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 young physicians use money to build more space and freedom in their lives so they can focus on what truly matters.  This starts with a well written financial plan. Add in some good execution and you’re off to the races. Through conducting thousands of meetings with physicians all across the country, we’ve gotten pretty good at helping you through this.  But the real value comes when you begin to experience the benefits of your hard work. Things like moving toward financial independence and feeling on-track with your goals. Our passion is helping our clients realize these awesome benefits of financial planning. Our pricing is transparent and services are flexible and cater to DIY types, outsourcers and everything in between.  We’d love to chat more about how we might be able to help you. Feel free to schedule a free 30 minute consult.

 

#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.

#3 TrueNorth Wealth

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.

#4 Targeted Wealth Solutions

Targeted Wealth Solutions is an independent, fee-only financial planning and investment management firm founded by former US Air Force pilots. Our goal is to build the financial latitude in your life so that you can pursue your passions. As fighter pilots, we served alongside some of the best flight surgeons in the military. We saw how being in a demanding career with a large amount of peripheral responsibilities caused stress over the lack of time available to spend on professional and personal pursuits that really mattered to our flight surgeons. We started Targeted Wealth Solutions to shoulder financial and business planning burdens so that our clients could get back to doing the things they were most passionate about. Please feel free to contact us to schedule a complimentary consult.

#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. Click here to schedule an introductory call or email Andrew directly.

#6 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.

#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.

#8 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.

#9 WealthKeel LLC

Chad Chubb is a Certified Financial Planner™ and fiduciary for physicians, dentists, and their families across the United States. He has been quoted by Medical Economics, American Medical Association, and CNBC for his work with medical professionals. He founded WealthKeel LLC  to simplify and organize the financial lives of medical professionals by custom-crafting financial plans centered around their goals and values. WealthKeel crafts simple, actionable financial plans for busy doctors and dentists, like you, who feel overwhelmed by the increasing complexity of the decisions you have to make with your money so you can free up time and energy to focus on your family, your work, and what you love most. WealthKeel was 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.

 

#10 Mayport Wealth Management

Mayport Wealth Management is a Boston-based, fee-only fiduciary advisor. Founder Adam Grossman is a Chartered Financial Analyst and earned an MBA from the MIT Sloan School. Mayport was founded on the belief that quality investment advice can be delivered for a reasonable, flat fee rather than the 1%-of-assets most firms charge. Mayport’s mission is to create for you a financial plan that will meet both your short-term and long-term goals so that you can focus on your career and your family, with the comfort of knowing that you have a solid plan in place. Our investment approach emphasizes simplicity, low-cost and tax-sensitivity.

Blankinship & Foster

Century Wealth Management

Clark Asset Management

Cornerstone Financial Group

Eaglestrong Financial

Eagle West Group

Enlight Financial

Firstmetric, LLC

Fisher Financial Strategies

FIT Advisors

Foster Group

FPL Capital Management

Litovsky Asset Management

Metanoia Financial

Navigo Wealth Management

Personal Choice Financial Advisors

Physicians Capital Management

Physician Family Financial Advisors Inc.

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

Quantifi Planning, LLC

Samalin Investment Counsel

Shearwater Capital

Sofi Wealth Management

Solari Financial

Stone Steps Financial

Switchpoint Financial Planning

Three Oaks Capital Management

Wealth Care LLC

Your Richest Life

Aptus Financial 

The Vetting Process

The 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