Individuals and Families

Business Owners

Medical Professionals

Engineers

Individuals and Families

Traditional “advisors” tend to only focus on investments and insurance that they either manage or sell you. Our approach is to truly become your household CFO. We believe our best shot at enhancing our client’s wealth and assisting them in obtaining their financial and personal goals is to focus on directing household cash flow to appropriate savings vehicles.  This in conjunction with debt management allows us to optimize the household balance sheet. This includes goal prioritization, optimizing asset allocation amongst investment accounts, ensuring proper insurance coverage and minimizing tax liabilities.
Safeguarding care of parents as they age, planning for a child’s college education, or ensuring your legacy is carried on as you intend, goal based financial planning is a necessity. For most families, this goal prioritization is an essential first step in the planning process. 
Below is a list of ongoing planning scenarios that arise during our relationships with Individual & Family clients:

  • Cash Flow / Budget analysis
  • Investment Management & Reporting
  • Education Planning
  • Employee Benefit optimization
  • Estate Planning
  • Multi-Generational (Family) Planning
  • Charitable Giving Planning
  • Goal Setting & Prioritization
  • Balance Sheet & Statement of Net Worth reviews
  • Medical & Long-term Care Planning
  • Debt Management
  • Retirement Planning
  • Insurance Planning & Risk Management
  • Income Tax Planning

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Business Owners

Growing a business is a difficult undertaking in the modern world.  Business owners must navigate a myriad of tax laws and regulations while trying to profitably create products or services, manage their employees, and develop and cultivate clients.
Often times business owners are too absorbed in their business to tend to their own financial needs, and they may also overlook key planning considerations that could help their business grow and prosper. Also, the livelihood of a business owner can be imperiled when unexpected events occur that adversely affect the bottom line of the business.
Capital360Financial, LLC is in a highly unique position to serve business owners. With the professional staff on hand, we can serve as your trusted advisor to go far beyond a traditional “financial advisor.” Capital360Financial, LLC has a network of trusted CPAs, attorney’s, insurance agents and banking relationships to ensure your business has the right team driving it forward.
As always, our fee ONLY approach helps ensure that the services and recommendations provided by Capital360Financial, LLC are in the best interests of the business and its stakeholders. 
Below is a common list of services that we engage with business owners:

  • Retirement plan analysis, improvement, implementation, and employee education
  • Insurance analysis for personal, key-man and buy-sell agreements
  • Employee Benefit analysis and enhancement
  • Business Consulting Tax Planning Tax Preparation (A network of trusted CPAs.)
  • Succession Planning “Quarterbacking” critical projects with a team of attorney’s, insurance agents and bankers

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Medical Professionals

A physician’s career is characterized by transition, challenge, and reward. Seemingly overnight one’s income leaps and the ability to begin actively pursuing personal dreams and financial goals becomes a reality. However, this point is the culmination of a tireless pursuit which includes years filled with long hours, low pay, and for many, mounting student loans. Financial freedom doesn’t happen overnight – it takes time, consistent energy, and methodical effort. This is why financial planning for physicians, and even financial planning for medical residents, is important. For a physician, losing time to a poorly devised financial plan is avoidable. Working with an advisor who specializes in financial planning for doctors can help save you that time.
 
Many physicians will find themselves in the top 10% of wage earners, paying higher tax rates, and running into challenges with fully realizing credits and claiming deductions. Should an individual own or partner in a practice, integrating personal and business taxes presents an added challenge. Physicians are at greater risk of lawsuit, necessitating the introduction of asset protection strategies within the scope of the financial plan. The financial advisor for doctors can help navigate these waters.
 
A financial plan can help alleviate these risks, though given the uniqueness of a physician’s career, it should also be anything but typical. Goals should be properly designed and formulated with the same care and effort as the credentials one has earned. An individual’s financial plan will be thoughtfully aligned with their objectives, thus giving the confidence that one’s financial ambitions are achievable. At Capital360Financial, our team of advisors are extensively trained, and well versed in financial planning for physicians in all stages of their career.
If you are still in training, you may ask yourself, "Is financial planning for medical residents even worth it?"  Absolutely!  Financial planning for medical residents is something we strongly encourage.  It is a lot easier to establish good habits early in your career.  While financial planning for doctors in practice may be different than financial planning for medical residents, there are still plenty of steps to build a solid foundation that should be implemented sooner rather than later. 
 

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Engineers

We are well versed in the challenges and opportunities available to all engineering professionals and recognize that your time is valuable, regardless of your current stage in life.

Engineers often build their wealth from scratch. You know your strengths and are not afraid to delegate. You want to understand how your finances are managed and are not afraid to ask tough questions. Prudent planning and strategic measurements help guide your high standards, and you have the patience to follow the process necessary to meet your goals.

Capital360Financial can work with you individually to ensure you have a strategic financial plan to help meet your unique needs, future goals, and personal financial questions or navigate intricate compensation packages.

Benefit from partnering with a financial advisor who understands the risks and rewards of your profession and can provide sophisticated, convenient financial services to help you meet your life's goals. Education is a consistent focus in our client relationships, as we help you navigate through the various life stages of your career and then match those stages with appropriate financial strategies.

Engineers – Life Stages and Financial Planning Concerns

For those immediately graduating from college, we guide you through the beginning stages of finding a job, structuring student loan payments and housing transitions.

Years 1 – 3 for an engineer typically include financial planning conversations around student loans, understanding employee benefits, budgeting and saving, billable hours, and building emergency reserves. Additional topics include income protection, liability protection, establishing short-term/mid-term goals, and any vacation or travel plans.

Years 3 – 5 often focus on key financial concerns with climbing the career ladder. Employee benefits, student loans, homeownership, and starting a family may be essential in your life. With these increased responsibilities, there may be a need for increased income protection, asset protection, and various customized retirement strategies. Engineers often face whether to go with public service or private or whether to work in a large firm vs. a small firm.

Years 5-15 bring many aspects of work-life balance into focus. Sometimes there are daycare costs, student loans, and other vital financial concerns such as retirement, asset protection, income protection, or home ownership. Every engineer needs to create a will and monitor their asset allocations. College for kids, plans for aging parents, vacations and travel plans, and wedding costs are all potentially relevant factors within this stage.

Years 10 – 20 is the perfect season to maximize your savings. Consider liability coverage or partnership buy-in. Do you want to invest in group benefits, partnership agreements, or buy-in/out provisions of partners? You may need to navigate the best way to pay staff, practice overhead protection, and ensure Healthcare benefits and income continuity.

When engineers reach the 30+ year mark of their career, we will likely shift our focus to running out of money, long-term care needs, asset depletion, succession planning, and business valuation. It's important to consider adjusting investment allocations, medical care costs, and college costs for kids. Asset transference, estate planning, and legacy giving strategies provide a well-rounded approach to consider within the retirement life stage.

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Financial Planning for Doctors in All Stages of Their Career

Residents and Fellows
 
In becoming a physician, the path first starts with education. At Capital360Financial, we believe that the development of a sound financial plan should start with these same principles. During training, physicians are often confronted with retirement plans and benefits packages, both of which require informed decision making. Residents and fellows will need to begin charting a path for loan repayment, determining whether public repayment, loan forgiveness or private consolidation platforms are the best match for their intended career path. Exploring options for near-term savings goals, disability coverage, life insurance, and IRAs are all planning areas that every resident and fellow should begin considering. Building a relationship with a financial advisor for physicians, who understands financial planning for medical residents in particular, is a great starting point to addressing the unique decisions at this stage.
 
Regardless of one’s ability to begin working towards their financial goals, taking the time to begin learning about options and becoming informed about the accounts, policies and strategies one may employ will be timely. The seeds for future financial aspirations can be planted and for some young physicians, the pursuit of financial objectives can begin in earnest.
 
In Practice
 
As an attending physician, financial plans truly begin to take shape as concept and strategy are put to work. Assets grow, obligations are extinguished, and plans speed towards meeting the stated goals. In short, every prior preparation comes into fruition.
 
At the same time, professional and personal demands remain and the time frame for meeting goals becomes limited. Early efforts should hopefully find a plan on track, but it’s natural to see plans change too. It becomes all the more important to involve professional financial, tax, and legal advice along the way to make sure efforts stay on course.
 
With proper savings habits established, planning shifts to ongoing portfolio monitoring. It’s important to complete regular reviews of the asset and account mix to make sure investments remain properly diversified and aligned with overall timelines. Retirement projections should be developed which will inform ongoing investment and savings levels, and allow for reasonable adjustments based on anticipated results. This holds true for educational savings accounts should they have been introduced to the plan.
 
It’s also at this stage where it makes sense to meet with an attorney to ensure legal documents are in proper order. This may compel changes to the insurance portfolio. It is advisable to add coverage where necessary when exposure remains, or begin to shift the insurance portfolio to address risks as they change. For example, it may be time to move from disability coverage to a long-term care policy to better preserve assets through retirement, or fold in additional life insurance coverage to meet estate, charitable, or tax planning needs.
 
Practice Owners
 
For those physicians that have the opportunity to own or partner within a practice, an already unique situation is compounded by additional levels of complexity. In addition to managing and planning for one’s household and family, a practice owner will be faced with assuming and paying the debts associated with the business, as well as determining the growth and direction for the practice. Owners will be tasked with developing a benefits package and establishing retirement plans. Planning for the tax structure of the practice, and integrating this with personal tax filings, while also taking strides to properly separate personal assets from practice and business-related liability takes thoughtful planning.
 
Working with Capital360Financial, we’ll create a uniform map for the direction of your business, coordinating and complimenting the efforts of your tax and legal team. Your time is freed up to focus on what really matters as you attend to the needs of your patients, while also growing your business, another important piece of your financial portfolio.
 
The best financial advisor for doctors is one who has experience working in that niche market.  If you are looking for a financial advisor for physicians, you have come to the right place.  Many members of our team specialize in physician wealth management, student loans, insurance planning, and more.  If you choose to reach out to us, we look forward to seeing how we can help you achieve your financial goals! 
 

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