Physicians Need for Financial Advisor

1. Physicians Need for Financial Advisor Trust is such a huge word… It either makes something or destroys it. What is most important, if your goal is to climb a mount? - Reaching the top, at the earliest isn’t? In Reality you need to reach the top and return safely. 80% of climbing accident happens while descending. Same way your objective may be earning enough to meet the goals. As a successful practicing professional, doctors make good money but most of their money not working for them. Simple reason, they literally have no time to look after other things than practice and their superior ego stops them asking relevant basic questions to the so called advisors. It’s famously said that “Be careful who you share your weaknesses with. Some people can't wait for the opportunity to use them against you”.Yours’s is open secret. Trust, but verify Right from manufacturer, banks, NBFCs, stock brokers, Insurance agents, Mutual Fund distributors, CAs, loan advisors, wealth management firms freely misuse words like financial planning/financial advisors/financial consultants to sell their product. Loads of fancy words and designation decorate their card. In India only SEBI Registered Investment Adviser can give comprehensive financial planning. Registered Investment Advisors (RiA) can be right financial advisor for Physicians. They are Fiduciaries i.e. they should put your interest first. They are legally binding to maintain records and establish why they advised, they advised. It’s your money; no one cares better than you. As Ronald Reagan said, "Trust, but verify." Check their credential first. How Financial Advisor can help you? Financial Advisors can bring all your finances together and help you reach your financial goals. They help you with cash flow management, reducing debts, Loan evaluation, tax optimization, wealth creation, Risk management, estate planning and many more crucial money matters. Don’ts  Never mix investment and insurance Don’t confuse between Investment management and Financial Planning  Never confuse between advisor and Seller You don’t require complex products to reach your goal Don’t over- leverage Final Words: Engage a professional financial planning for medical professionals to get customized solution. Your choice of choosing advisor and execution agent should be taken separately. Periodic review is vital to do necessary course correction. Wealth Traits Financial Planners, No. 9, Maven Projects Centre,Dr. Thirumoorthy Nagar 3rd Sreet, Nungambakkam, Chennai - 600 034. +91 900305599, +91 9445518009 info@wealthtraits.com / www.wealthtraits.com