Physician Wealth Management
Maximizing Your Earning Potential
A Foundation for All Your Financial Decisions
Whether you are a physician employee, owner of a private practice or work in a hospital setting, you face unique financial challenges. However, dedicating the time to research and make informed financial decisions can be both time-consuming and overwhelming. You need a partner and advisor who will walk alongside you as you navigate the financial complexities faced by most physicians.
We serve as this financial partner, helping you create a personal financial plan that will form the foundation for all future financial decisions. We can help assess your current and future financial condition and design a plan that will help you achieve your financial goals.
We help physicians succeed by growing and protecting their wealth with a highly personalized level of service.
- Retirement planning
- Asset and malpractice protection
- Buying into or starting a practice
- Debt reduction and student loans
- Children’s education planning
- Estate planning and legacy planning
- Investment portfolio construction
- Cost efficient investing
- Tax minimization strategies
- Tax preparation
- Fiduciary responsibility
Meet Our Professionals
Partner + Chief Growth Officer
Nicole Rice, CPA
Aldrich Wealth LP
Nicole has dedicated her entire professional career to helping business owners and corporate executives achieve their wealth accumulation and preservation goals. In her role as chief growth officer, Nicole identifies and fosters new opportunities that align with Aldrich Wealth’s strategic growth initiatives, continuing the firm’s established positive trajectory and long-standing entrepreneurial spirit. Nicole’s prowess spans… Read more Nicole Rice, CPA
Nicole's Specialization
- Developing strategic growth initiatives
- Individual wealth management
- Certified public accountant
- Retirement planning
- Series 65 securities exam
Partner + Lead Advisor
Abbey Rollins, CFP®
Aldrich Wealth LP
Abbey joined Aldrich Wealth in 2007, after spending five years at a traditional brokerage firm. Abbey’s goal was to focus on personal financial planning, which was not a service valued in the brokerage industry. Shortly after joining the firm, Abbey obtained her CERTIFIED FINANCIAL PLANNER™ practitioner designation (CFP®) and greatly expanded the financial planning services… Read more Abbey Rollins, CFP®
Abbey's Specialization
- Hight-net-worth families, business owners, and medical practitioners
- Series 66 security exam
- Certified Financial Planner™
Partner + Lead Advisor
Kayla Cook, CFP®, MBA
Aldrich Wealth LP
Kayla Cook joined Aldrich Wealth in May 2014. Since then, Kayla has thrived on educating clients, helping them feel empowered to make informed choices and learn the language of finance. With many years of experience in the financial industry, she has developed a deep understanding of the complex economic landscape. She has helped countless clients… Read more Kayla Cook, CFP®, MBA
Kayla's Specialization
- CERTIFIED FINANCIAL PLANNER™
- High net worth families, business owners, and physicians
- Comprehensive financial planning and wealth management
Residents and Fellows
Retirement Planning
After many years in medical school and residency, you may be entering the workforce at an older age than people in other careers. Our team can help you explore and understand the various retirement savings options available to you and potentially structure a retirement vehicle that increases the amount you are able to contribute on a pretax basis.
Financial independence is achieved through the adequate funding and balance of retirement and after-tax investment accounts. We help ensure you are approximately diversified and actively maximizing your retirement savings vehicles.
Asset Protection
Your largest assets are the skills and knowledge you gained while in medical school, residency and fellowship. Protecting your livelihood through a combination of proper insurance coverage and estate structure is paramount. We assist with life and disability insurance policy review.
Buying Into or Starting a Practice
You may have the opportunity to buy into a practice, a surgical center or real estate utilized by the practice. We can help you evaluate the acquisition’s effect and eventual disposal on your personal financial plan based on a projected income stream and appreciation multiples.
Debt Management and Reduction
We perform a thorough review of your student loan repayment options and map out an ideal method of elimination, including potential consolidation, refinancing and state and federal programs for which you may be eligible.
Practicing Physicians
Retirement Planning
Our unique approach to cash flow analysis incorporates multiple what-if scenarios to include projecting your income based on evolving legislation and a changing payer mix.
Asset Protection
Your largest assets are the skills and knowledge you gained while in medical school, residency and fellowship. The costs associated with a decade of education can place an undue burden on a physician without the proper asset and malpractice coverage in place. Protecting your livelihood through a combination of proper insurance coverage and estate structure is paramount.
We assist with malpractice protection through entity structure and asset ownership and titling review. Our approach includes a thorough review of the life, disability and malpractice insurance policies you currently have in place, specific definitions that apply to your specialty, and recommendations for alternative coverage, if necessary.
Liability Planning
An asset accumulation strategy is not complete without addressing debt reduction. Many strive to pay off their real estate by retirement. In order to help you achieve tax efficiency and, if applicable, an appropriate cap rate, we review your existing mortgage(s) to determine the most advantageous course of action.
Education Planning
We develop and model saving strategies to meet the rising cost of higher education through an appropriate investment allocation tailored to each child’s age.
Estate Planning
Without proper planning, many physicians may leave a taxable estate. State and federal legislation regarding the exemption amount differs from year to year. We can strategize gifting techniques and legacy planning that preserves the amount passed on to your loved ones.
Client Success StorY
Step one
Planning for Retirement
As a physician, Bill had spent the majority of his career focused on saving for retirement. As retirement approached, he was nervous about making the transition from working and saving to using his investments to support his retirement lifestyle.
Step two
Portfolio Withdrawal Strategy
After listening to his goals and concerns, we provided Bill and his wife with a comprehensive financial plan. The plan addressed their retirement spending goals, life and long-term care insurance, estate planning and providing a legacy for their grandchildren. The analysis also included the recommendation of a tax-efficient portfolio allocation and a tax-efficient withdrawal strategy.
Step three
Peace of Mind
Bill and his wife were pleased with the comprehensive nature of our analysis and entered retirement with the peace of mind that they would achieve their goals.
Retiring Physicians
Retirement Planning
We create a portfolio withdrawal strategy for retirement that complements your lifestyle and addresses tax efficiency, principal preservation and inflationary and interest rate risk.
Estate Planning
Without proper planning, many physicians may leave a taxable estate. State and federal legislation regarding the exemption amount differs from year to year. We can strategize gifting techniques and legacy planning that preserves the amount passed on to your loved ones.
Looking for support or have a question?
Contact us to speak with one of our advisors.
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