Solutions for physicians

At Wealth Conservation Group, we specialize in creating professionally-formulated, custom financial plans. By going through a comprenhensive financial planning process, we are able to integrate a variety of products and services into the final plan in order to ensure your best interests are met. The cornerstone of the process is to "look beneath the surface" and create a window through which to recognize the significance of applying innovative financial strategies. Our primary focus during financial planning is to cristalize your objectives and act as the advisor to help successful implementation.

Some of the strategies and/or services that we can include in your financial plan are highlighed below:

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For Practicing Physicians
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For Residents and Fellows
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Disability and Extended Care Needs

Disability & Extended Care Needs

Preparing for retirement isn’t just about saving money—a truly comprehensive strategy takes into account potential circumstances that could affect your future financial stability. We offer solutions for disability insurance and extended care that help you manage unexpected expenses and ensure you’re prepared for any future. We’ll help you identify your risk factors and establish safeguards to protect your assets so you can be confident about your retirement.

*Products available through one or more carriers not affiliated with New York Life Insurance Company, dependent on carrier authorization and producft availability in your state or locality.

For Practicing Physicians

Wealth Conservation Group is a financial firm that understands physicians face many challenges in establishing financial security. Educational requirements and student loans often delay their ability to generate income and savings, while constant patient care and the need for continuing education demand their full attention. That’s where we come in. Our wealth strategies for physicians is based on understanding our clients’ needs and customizing a strategy to help achieve their financial goals and objectives.

Wealth Conservation Group offers integrated financial planning* designed exclusively for doctors. Our team of dedicated and knowledgeable financial professionals, along with our trusted relationships with professionals from other arenas, can formulate your financial plan, taking into account everything from asset protection and risk management to tax minimization strategies and estate/retirement planning. We will advocate an approach that seeks to avoid unwarranted risk, maximize tax savings and protect income and assets from unexpected life events.

At Wealth Conservation Group, we realize that as a physician you seek to balance your professional and personal life to gain more control and security. We are experienced in meeting the unique needs of physicians and their families by developing customized plans that enable them to better manage both their practice and their personal finances.

*Financial Planning is offered through Joseph, Paul, Mark, and Drew's affiliation with Eagle Strategies LLC, a Registered Investment Adviser.

For Residents and Fellows

Does it make sense for you to pay off your medical school loans or save more for retirement? Should you refinance your mortgage or finance a college education for your children? We will help you make the right decisions based on your individual circumstances. We’ll help determine whether consolidation or income-based repayment are options for you and if you’re eligible for loan forgiveness or repayment programs. We help residents and fellows prioritize finances and manage their overall debt load.

Retirement Planning

As a physician, you are well aware that people are living longer, more active lives. It makes sense to start as early as possible to plan, save, and invest for retirement. However, while most people start working in their early 20s and start saving in a 401(k) or Roth IRA in their 30s, you as a doctor may have missed out on 10 years of retirement savings, and you'll need to catch up. Even if you are still struggling to pay off your medical school loans or are wondering where the money will come from to send your own children to college, retirement planning is important. Let us help you find the ideal retirement plan so you can maintain your existing lifestyle and still have a solid nest egg for when you retire.

Tax Planning Strategies

A well-balanced financial plan considers income taxes now, taxes on investments as they grow and how taxes will affect the withdrawal of the asset. We can help you build a comprehensive financial plan that takes into account what your income taxes are now, what they may be on investments down the line, and how and at what point you will be able to withdraw those funds when you need them. We can help you look for possible tax savings so that you can save that money for your kids when they need it, donate the funds to a charity of your choice or a large purchase.

Debt Management

Long-term wealth management starts with early management of medical school loans. We can assist you with the insight and analysis necessary to ensure wise decisions are made regarding the repayment of your loans. Our goal is to deliver best practices for managing debt in order to help fast-track improving your overall financial net worth.

Asset Protection

Success requires not only the successful accumulation of assets, but also the protection of assets accumulated over a career. Physicians can no longer depend entirely on medical malpractice insurance to cover them personally and must start self protecting themselves and their families. We can help you protect your wealth, savings, real estate and investments, along with future income.

Education Planning

Aside from retirement, saving for a child’s college education is one of the biggest expenses a physician encounters. The skyrocketing cost of education makes it increasingly important to start planning for your children's education early, and to determine the best vehicles for your investment. And with college savings vehicles multiplying all the time, and changing tax laws, the landscape of college education funding can be perplexing. This is why planning now will give you the utmost in flexibility down the road.

Charitable Planning

Charitable giving can fulfill your legacy of helping people and organizations that are important to you. Properly designed philanthropy plans can also provide significant tax saving opportunities. Your personal and financial goals will determine the extent of any charitable giving plan and the tax benefits your plan can produce. We help clients make charitable gifts in the most tax-efficient manner.

Employee Benefits

You owe it to your practice to invest just as much work and care in retaining quality staff members, as you do hiring new ones. One way to do that is to offer a competitive compensation and benefits package. Many practices can't offer significant raises or bonuses, but what you can do is find out what is meaningful to your staff in terms of health insurance, time off and more, and then make it happen. We can help you coordinate your benefits to best meet the needs of everyone involved. This leads to a longer life span of your staff, with employees who stay with you for many years. Please contact our office to custom tailor your group benefits program. We possess extensive knowledge of the Employee Benefits industry and will coordinate with our affiliates to offer more:

  • Group and Individual Health Plans
  • Dental
  • Vision
  • 401(k)
  • Employer Paid Benefits and Voluntary Benefits
  • Short- and Long-Term Disability
  • Life Insurance
  • Long-Term Care

*We can provide the following insurance products through our relationships with other insurance companies. Please note that some of these products are not available through New York Life and are subject to state approval in the states you are domiciled or reside.