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Brian J. Knabe MD of Savant Capital Management
By Max Alexander
Dow Jones Newswires; 212-416-2245 
Lots of doctors get burnt out dealing with the business end of medicine. But Brian Knabe, a family practice physician in Rockford, Ill., had such a passion for crunching numbers that he became a financial planner.
Knabe, 42 years old, still sees patient’s two half-days a week. He also teaches residents for another half-day at the University of Illinois – College of Medicine.
Most of the week, he’s a certified financial planner with Savant Capital Management.
“I hear all the jokes,” says Knabe, “the most popular being some version of, ‘Hey I guess my portfolio’s doing so badly, they had to bring in the doctor.'”
When the laughter dies down – it doesn’t take long – people often ask what motivated him to transition from medicine into finance.
His short answer is what you’d expect from a wealth adviser: “I wanted to diversify my career.”
The long answer includes a lifelong passion for math that runs in the family. Knabe’s father and brother are both engineers, and the doctor himself majored in bioengineering at Marquette University. “In college, I loved calculus, statistics and differential equations,” he says.
Growing up in Rockford, his best friend was Brent Brodeski, a partner at Savant, and Knabe had been a client of the firm since 1995. “For years, I joked with Brian, ‘If you ever get bored with medicine, you can join us,'” says Brodeski. “Three years ago he called and said, ‘I’ll take you up on that.’ I was floored.”
Knabe wasn’t bored with medicine. “I love taking care of patients, and the intellectual stimulation of the field,” he says. “So I told the partners at Savant that I would only do this if they allowed me to continue practicing medicine part-time.” Meanwhile, he went back to Marquette and got his CFP credentials.
About half of Knabe’s financial clients are doctors, who appreciate his insider’s knowledge of their work and financial issues. Both fields involve privacy and trust, he notes, and both involve planning for the future. They also involve an element of uncertainty.
Sometimes his advice is specifically health-related.
“One client I was working with was a couple where the husband had a terminal illness,” recalls Knabe. “I worked closely with the family in planning living will issues and durable power of attorney for health care. I’ve helped other clients wade through health insurance and disability issues.”
Yes, financial clients do sometimes ask him for medical advice, but he stops them before they can unbutton their shirt.
“If they have a problem and need a diagnosis, I’ll tell them where to go to get a second opinion,” he says.
Link: http://online.wsj.com/article_email/BT-CO-20090914-711325-kIyVDAtMEM5TzEtNDIxMDQwWj.html
Managing Editor’s Note:
Dr. Knabe is also enrolled in the www.CertifiedMedicalPlanner.com program in health economics and medical practice management for financial advisors and healthcare consultants.
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Filed under: "Advisors Only", "Doctors Only", Breaking News, Career Development, CMP Program, Health Insurance, iMBA, Inc., Media Mentions and PR | Tagged: Brent Brodeski, Brian Knabe MD, certified financial planner, certified medical planner, CFP, CMP, CMP www.CertifiedMedicalPlanner.com, financial advisor, savant capital management |
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