Over the next several months I will be sharing insights from conversations I’ve had with many clients in the medical space (if there are things you’d like me to address, specifically, please leave them as comments below).

In reflection, though, it strikes me that the place to start is perhaps not the most obvious—where many medical professionals fail in their financial goals is caught, in my experience, in the nuances of understanding of their own advisors—the advisors get in the way of strong retirements and strong businesses with cliché information—often from people who do not fully understand the medical space.

It occurs to me that a strong financial advisor for a medical professional needs to be two things, at minimum:

  1. Someone who plays well with others (can you trust your financial advisor in conversations with your CPA, and lawyer, and that they understand that financial outcomes are born of alignment, not conflict)
  2. Does your financial advisor have the ability to envision how multiple financial products work together?

Too often, I’ve found, financial advisors are just “investment advisors” and they focus on the investment aspect of a medical professional’s portfolio. Investments matter, yet they are one line item on your investment balance sheet.

In reality, we need to understand how all financial instruments work together—and by doing so—we often end up getting to the same result as an “investment advisor” (or better result) without as much volatility, and with more confidence. This requires an advisor who has a strong vision for alignment of financial instruments.

These include, but are not limited to:

  • Life insurance, disability insurance, long term care
  • Practice management protection
  • Exit planning
  • Cash flow management and forecasting
  • Retention/incentive strategies for your key employees
  • Getting financially organized and sharing with your loved ones a transparent plan for financial freedom.
  • Going against the grain from: “one size fits most advice” to an applicable retirement strategy that maximizes income and reduces taxes.

The main takeaway, for me, upon reflection of my experience with my clients is simply this: the medical profession is stellar at the most important job in the world—keeping people alive. That does, and should take a tremendous amount of focus.

Advisors, then, need to be able to give concise, deeply understood, advice quickly to medical professionals. That requires an advisor to have a wealth of experience in multiple areas of influence: business management, retirement, exit planning, and—perhaps most of all—the ability to get along with others.

To serve you, in many ways, a financial advisor needs the ability to separate what they are ‘selling’ from what you are saying, and the best solutions—all encompassing—for you.

If it would benefit you to have a conversation about your overall financial plan, please let your CCMS rep know or email me at steven@huskeyfinancial.com

“You know health, we know wealth!”


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