Addressing the unique needs of healthcare professionals

The team at Woodforest Wealth Strategies has specialized knowledge in serving the unique needs and concerns of healthcare professionals, from sole practitioners to those who have established their own practice. Earning a high salary and attractive annual bonus are well-deserved professional perks, but nonetheless you still must plan for and address your short- and long-term needs.

Our experienced advisors know what important questions require answers. For example, what retirement plans allow you to defer the most income and what are the trade-offs? Or what about disability insurance to protect your family in the event you are no longer able to work? You may also want to consider an employee benefit program or company retirement plan to help reward your loyal employees while enabling you or your practice to enjoy tax advantages and build your personal wealth.

Certainly, you must be mindful to protect against liabilities and other risks, and preserve your assets from excessive taxes. You also have other priorities to save for – a home, a family, retirement – while facing healthcare reform, rising malpractice premiums and reduced insurance payouts.

We understand the unique financial issues you face and why it’s more important than ever to make smart financial decisions now to prepare for the future. Our financial planning team can design a wealth management plan that addresses every important aspect of your practice and personal life, including everything from funding your children’s college educations to having an estate plan.

By collaborating with your tax and legal advisors, the team can create family limited partnerships or asset-protection trusts, secure umbrella insurance coverage, and help you find solutions for dealing with managed care reimbursement cutbacks and rising practice expenses.

Services for healthcare professionals include:

  • Business planning including practice sales and valuations
  • Employee benefit programs such as group health insurance
  • Business retirement plan consulting
  • Risk management
  • Tax planning
  • Personal financial planning
  • Investment planning and portfolio management
  • Cash management services
  • Lending solutions
  • Estate, legacy and charitable giving planning