Planning For Doctors

March 09, 2012

Physicians, because of their high incomes and high visibility, are often easy targets for bad advice. When hiring an advisor, a considerable amount of thought and research should be dedicated to the process. After all, it’s only your money.

As scientific professionals, you are trained to develop rational strategies in diagnosing or treating patients. The same practice should be executed with your money.

Successful portfolios are based on research and reasonable expectations, not intuition. When it comes to the successful navigation of their own financial health, doctors do not apply the same logic or expect the same level of sophistication from their advisors. Choosing the wrong advisor can be detrimental to your hard earned wealth.

Questions to Ask Your Money Manager

  • How are you paid?
  • Are your recommendations in any way influenced by compensation?
  • Do you have a clean regulatory record?
  • What are your credentials?
  • How much experience do you have?
  • How much authority will you exert over my accounts?
  • Do you coordinate with my other professionals?
  • Do you integrate all facets of financial planning, asset protection and wealth transfer planning into your practice?

Financial planning includes the setting of goals and objectives, a detailed assessment of your current situation, the development of specific strategies designed to help you achieve your stated goals, and the presentation of a written plan. Cathy Pareto and Associates is a fee-only advisor, we do not sell products. Our team of advisors will work with you and your family to develop your unique list of short term and long term goals, and will develop specific recommendations in the following areas, as requested.

  • Cash Flow/Budget Analysis
  • Debt Management
  • Investment Analysis and Portfolio Management
  • Retirement Planning
  • Risk Management/Asset Protection
  • Income Protection
  • Education Planning
  • Estate and Wealth Transfer Planning

More and more professionals are using the services of fee-only independent advisors to help them with their personal financial plans and investments. The reason for this trend is simple, with a fiduciary, fee-only advisor you have a dedicated and unbiased professional that not only has your best interest at heart, but also adheres to the highest standards of ethics within an industry plagued by frauds and glorified salespeople.


Contact us today for a free initial consultation


In The Media

Cathy Pareto is widely quoted by the media and has provided investment and personal finance quotes for publications and television shows such as The Wall Street Journal, Business Week, The New York Times, FOX Business, PBS, CNBC, Bloomberg, Jean Chatzy’s blog and More Magazine articles, The Miami Herald, The Daily Business Review, Forbes, Investopedia, WLRN, Accountant’s World, Florida Medical Business, Divorce360 and many more.
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