Doctors are not all built alike. There is a myriad of specialists from anesthesiologists to cardiologists to gastroenterologists to dermatologists and so many more. Patients don’t expect the same type of care from an orthopedic surgeon as they would from their family physician. Instead, they seek the doctor who specializes in their unique needs and can best care for their health.
The same idea is true in financial planning. Specialties range from retirement planning to college planning and more, all designed to optimize the client experience. At Vestia, we are passionate about helping physicians in all walks of life structure their money to enhance and enrich their lives.
Our sweet spot is harnessing the intersection of money and lifestyle, supporting our mission to help specialty physicians achieve what we call wealth without regret. How can Vestia help take your finances to the next level? Let’s find out.
Save Time With Full-Service Financial Planning
Physicians are busy, so you need a professional who understands your goals and can help implement your plan. That’s why we are passionate about our full-service model.
Think about it like this, when you have a medical concern, what do you do? You likely text a trusted colleague to help figure out the issue and make a plan going forward. Why not initiate this same system for your financial health? Our team can be your trusted guide who you can contact (via phone, text, email, etc.) whenever you have a question, concern, idea, or inspiration that crosses your mind.
Case Study: The Value in Comprehensive Physician Planning
Vestia is in your corner, looking out for your financial wellbeing from a comprehensive and holistic perspective. If a patient came to you with a shoulder injury, for example, that injury could affect numerous other areas of the body from the head to the neck to the arm and more.
Your financial plan operates similarly. Comprehensive planning views how each piece of your financial life interacts and influences the other parts. Your investments, for example, shouldn’t be siloed from your risk tolerance, time horizon, tax needs, goals, and more. Once you start looking, you’ll find endless connections between different aspects of your financial plan. Let’s look at a story that depicts this point.
A mid-career cardiologist knew that between his job, family, friends, and hobbies he didn’t have enough time to dedicate to his finances, so he sought help. He found himself a handful of various experts in short order – an investment professional, accountant, insurance agent, attorney, banker, and more. The problem became evident when none of them talked to one another.
The investment broker engaged in numerous day trades, chasing the best return, triggering immense short-term capital gains, which the accountant simply noted on the tax return, and the cardiologist subsequently paid the tax bill. No one had that holistic view to step in and note that the system wasn’t working as efficiently as possible. The mortgage officer informed the doctor that his mortgage interest was tax-deductible, which was excellent until he discovered from his accountant that tax law prohibited him from taking the full deduction. He thought that his estate plan was all buttoned up, but the retitling of the house wasn’t done properly.
By bringing us in, he was able to consolidate so he only had those professionals critical to his team. We jumped on the phone to get everyone coordinated and ended up saving time, hassle, and considerable inefficiency.
Our goal at Vestia is to eliminate those problems before they happen. By implementing a comprehensive approach to your financial life, all of these elements work together to create a cohesive and robust strategy.
A comprehensive plan can quell the anxiety over doing enough to stay on track with your finances. We know your goals and vision for your life and can situate your finances to best support them.
Money Should Enhance Your Life, Not Be Your Life
As a physician, hard work is in your DNA. But the quest for building your fortune shouldn’t come at the expense of what’s most important in your life. We help you determine your goals, values, and priorities and structure your finances to meet and surpass those goals.
Our mission is to help you build wealth without regret. You will hear us talk about this phrase often because it is central to our firm’s mission, mindset, and values. We pursue the vision that life supersedes money and aligning your money with your life can inspire joy, meaning, and fulfillment. How can we do that? Let’s take a closer look.
Our Innovative Approach
The first step in our process is a values meeting, which helps us scope the plan uniquely for you. Over the years we have realized that even though your situation on paper may look similar to a colleague’s, your values and priorities are different. If we don’t understand those first—how can we expect to get you there?
Your most precious resource is time—time with the people, places, and things that mean the most to you. Our process encourages doctors to capitalize on this valuable commodity.
While some physicians are already being compensated fairly, others are falling short. Sometimes the quickest way to move the needle for your financial plan is to get you paid more for the work you’re already doing! Every new client of ours receives a compensation benchmark report that demonstrates productivity and pay according to specialty and region of the country.
If we uncover your productivity is in the 75th percentile for your specialty, but you are only getting paid in the 40th percentile, we’ll start by trying to get you paid more for what you do, rather than just asking you to save more toward your goals. This service helps open the door to wealth without regret.
Money should be a tool to facilitate joy, flexibility, and freedom. Let’s set it up that way. We start with your goals and values then incorporate your finances, not the other way around. Let’s look at a case study to manifest this point.
Case Study: Can You Buy The Beach House?
Our client was a mid-career physician. He was an excellent saver and had a goal to purchase a beach house for him and his family to enjoy. After examining his finances, his advisor told him he was in a healthy financial place to purchase the house now when he could actually enjoy it. Our team assisted in shopping for a mortgage, and he ended up finding a fantastic house.
Not all advisors would operate in this way, but we have a value to give a surplus, meaning we do what’s best for you, even if it results in less for us. Our firm would have benefited financially from those funds being invested, but that’s not the catalyst that drives us. Our priority was helping our client use his money to enhance his life, and that’s what he did. We helped him and all our other clients live life now.
How Much Is “Enough?”
When you don’t know the answer to this question, as a physician, you tend to think the answer is simply more. You are programmed to achieve constantly. And while your many achievements and accomplishments are incredible, they can cause overwork, stress, and burnout.
We can actually answer the question of how much money is enough. Once we understand your goals and how much money needs to be accumulated to support those goals, you know exactly what you need. You need only attempt to make more than that number if you really want to. So many sleepless nights can be avoided simply by having a clear answer to that question.
It’s Your Life, We Just Help You Live It
We don’t make every decision for you, rather we provide the information, tools, and resources you need to make the best decision for you and your family. We look at different strategies, trade-offs, alternatives, and more to figure out what feels right for you. Financial planning isn’t prescriptive, rather it’s about using the resources you have to augment your life.
Life is meant to be lived. The intersection of life and money is where we thrive. We help people find that balance and capitalize on important opportunities and resources to get them where they need to go. Does our approach sound appealing to you? Get in touch with our team today to learn more.
Investment advisory services offered through Vestia Personal Wealth Advisors, Vestia Retirement Plan Consultants, and Vestia Advisors, LLC. Securities offered through Ausdal Financial Partners, Inc., 5187 Utica Ridge Rd, Davenport, IA. 52807 (563)326-2064. Member FINRA/SIPC. Vestia Personal Wealth Advisors, Vestia Retirement Plan Consultants, Vestia Advisors, LLC, and Ausdal Financial Partners, Inc. are independently owned and operated.
This material is intended for informational purposes only. It should not be construed as legal or tax advice and is not intended to replace the advice of a qualified attorney or tax advisor. This information is not an offer or a solicitation to buy or sell securities. The information contained may have been compiled from third-party sources and is believed to be reliable.
