COMPREHENSIVE FINANCIAL PLANNING STRATEGIES for DOCTORS and ADVISORS

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UPCOMING: Our Newest Major Textbook Release

[By Ann Miller RN MHA]

Release: February 19th, 2015 by Productivity Press, Inc

744 Pages | 43 Illustrations

Editor(s): Dr. David Edward Marcinko MBA CMP™ and Professor Hope Rachel Hetico RN MHA CMP™

***

 COMPREHENSIVE FINANCIAL PLANNING STRATEGIES for DOCTORS and ADVISORS 

[Best Practices from Leading Consultants and

Certified Medical Planners™]

Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

 Features: 

  • Engaging content with case models, templates and examples for all medical professionals and their consulting advisors.
  • Combines holistic financial planning with new topics like hedge funds, investment banking, Wall Street practices and shenanigans; securities markets and margin accounts; alternative asset classes and investment policy creation – all integrated with emerging health industry concerns like the PP-ACA, ACOs, new tax laws and reimbursement models; practice sales, contracting and valuations; social media, hospital employee fringe benefits and PHO stock options.
  • Presents disruptive theories on industry suitability rules, fiduciary accountability and stewardship principles, and how to select the most knowledgeable and cost-efficient advisor for every life-cycle need.

Summary

Drawing on the expertise of multi-degreed doctors, and multi-certified financial advisors, COMPREHENSIVE  FINANCIAL PLANNING STRATEGIES FOR DOCTORS AND ADVISORS[Best Practices from Leading Consultants and Certified Medical Planners™]will shape the industry landscape for the next-generation as the current ecosystem strives to keep pace. Traditional generic products and sales-driven advice will yield to a new breed of deeply informed financial advisor, or Certified Medical Planner™.

The profession is set to be transformed by “cognitive-disruptors” that will significantly impact the $2.8 trillion healthcare marketplace for those financial consultants serving this challenging sector. There will be winners and losers. The text which contains 24 chapters, and champions healthcare providers while informing financial advisors, is divided into four sections compete with glossary of terms, CMP™ curriculum content, and related information sources:

  1. For ALL medical providers and financial industry practitioners
  2. For NEW medical providers and financial industry practitioners
  3. For MID-CAREER medical providers and financial industry practitioners
  4. For MATURE medical providers and financial industry practitioners.

Using an engaging style, the book is filled with authoritative guidance and health care–centered discussions, to provide tools and techniques to create a personalized financial plan using professional advice. Comprehensive coverage includes topics likes behavioral finance, medical risk management, Modern Portfolio Theory (MPF), the Capital Asset Pricing Model (CAP-M) and Arbitrage Pricing Theory (APT); as well as insider insights on commercial real estate; High Frequency Trading platforms and robo-advisors; the Patriot and Sarbanes–Oxley Acts; hospital endowment fund management, ethical wills, divorce and other special situations.

The result is a codified “must-have” book, for all health industry participants, and those seeking advice from the growing cadre of financial consultants and Certified Medical Planners™ who seek to “do well – by doing good”, dispensing granular physician-centric financial advice: Omnia pro medicus-clientis.

Financial Planning 2015

 RAISING THE BAR

CERTIFIED MEDICAL PLANNER

“The informed voice of a new generation of fiduciary advisors for healthcare”

[Omnia pro medicus-clientis]  

More:

BOOK: Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™

Conclusion

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6 Responses

  1. Some References and Recommendations

    “This is an excellent book on financial planning for physicians and health professionals. It is all inclusive yet very easy to read with much valuable information. And, I have been expanding my business knowledge with all of Dr. Marcinko’s prior books. I highly recommend this one, too. It is a fine educational tool for all doctors”.
    —Dr. David B. Lumsden MD MS MA, Orthopedic Surgeon
    Baltimore, Maryland

    “I plan to give a copy of this book written – ‘by doctors and for doctors’ – to all my prospects, physician and nurse clients. It may be the definitive text on this important topic.”
    —Alexander Naruska CPA
    Orlando, Florida

    “Health professionals are small-business owners who need to apply their self-discipline tactics in establishing and operating successful practices. Talented trainees are leaving the medical profession because they fail to balance the cost of attendance against a realistic business and financial plan. Principles like budgeting, saving and living below one’s means, in order to make future investments for future growth, asset protection and retirement possible, are often lacking. This textbook guides the medical professional in his/her financial-planning life journey from start to finish. It ranks a place in all medical school libraries and on each of our bookshelves.”
    —Dr. Thomas M. DeLauro DPM
    Professor and Chairman – Division of Medical Sciences
    New York College of Podiatric Medicine

    “Physicians are notoriously excellent at diagnosing and treating medical conditions. However, they are also notoriously deficient in managing the business aspects of their medical practices. Most will earn $20-30 million in their medical lifetime, but few know how to create wealth for themselves and their families. This book will help fill the void in physicians’ financial education. I have two recommendations: 1) every physician, young and old, should read this book; and 2) read it a second time!”
    —Dr. Neil Baum MD
    Clinical Associate Professor of Urology
    Tulane Medical School, New Orleans, Louisiana

    Ann Miller RN MHA

    Like

  2. More Kudos

    This text should be on the bookshelf of all contemporary physicians. The book is physician-focused with unique topics applicable to all medical professionals. But, it also offers helpful insights into the new tax and estate laws; fiduciary accountability for advisors and insurance agents; with investing, asset protection and risk management, and retirement planning strategies with updates for the brave new world of global payments of the Patient Protection and Affordable Care Act [Obamacare]2014. Starting out by encouraging readers to examine their personal “money blueprint” beliefs and habits, the book is divided into four sections offering holistic life cycle financial information and economic education directed to new, mid-career and mature physicians.

    This structure permits one to dip into the book based on personal need, to find relief, rather than to overwhelm. Given the complexity of modern domestic healthcare, and the daunting challenges faced by physicians who try to stay abreast of clinical medicine and the ever-evolving laws of personal finance, this textbook could not have come at a better time.

    —Dr. Philippa Kennealy MD MPH
    The Entrepreneurial MD
    Los Angeles, California

    Physicians have economic concerns unmatched by any other profession, arriving ten years late to the start of their earning years. This textbook goes to the core of how to level the playing field quickly, and efficaciously, by a new breed of dedicated Certified Medical Planners™. With physician-focused financial advice, each chapter is a building block to your financial fortress.

    —Thomas McKeon MBA
    Pharmaceutical Representative
    Philadelphia, Pennsylvania

    Excellent Resource – This textbook is written in a manner that provides physician practice owners with a comprehensive guide to financial planning and related topics for their professional practice in a way that is easily comprehended. The style in which it breaks down the intricacies of the current physician practice landscape makes it a “must read” for those physicians (and their advisors) practicing in the volatile era of healthcare reform.

    —Robert James Cimasi; MHA ASA FRICS MCBA CVA CM&AA CMP™
    CEO-Health Capital Consultants LLC
    St. Louis, Missouri

    Like

  3. New Book,

    I just ordered my copy. Can’t wait to receive it.

    Cindy

    Like

  4. COMPREHENSIVE FINANCIAL PLANNING?

    What do comprehensive financial planners really do? The surface answer is that planners provide advice and services in the areas of investments, retirement planning, estate planning, cash flow management, tax planning, and asset protection.

    In order to find a financial planning firm that’s a good fit for you, however, you might want to find out more about the core purpose that underlies all these services. Any successful company will have a clear vision of its purpose, and its staff members should be able and willing to discuss that purpose with you.

    As an example, my staff and I have defined the core purpose of our firm as being to transform the financial and emotional well-being of people. Here’s a closer look at the three key words of that purpose:

    Transform. Transformation is defined as a major change in form, nature, or function. To achieve long-term financial health, you may need to transform your relationship with money by making permanent changes in your attitudes, beliefs, and behaviors. An example of transformation might be learning to reframe a money script that has blocked your ability to save for the future.

    Well-being. This is a multidimensional word that includes financial, emotional, and physical aspects of people’s lives. Our purpose focuses on both the financial and emotional aspects. Since some 90% of all financial decisions are made emotionally, separating financial and emotional well-being is almost impossible.

    People. By using “people” rather than “clients,” we acknowledge that, in order to foster transformation and well-being for our clients, we also need to be concerned about the well-being of all the members of our staff.

    Once a firm has defined its core purpose—the “what”—the next step is to create a framework of principles to accomplish that purpose. This is the “how” that guides the operations of the company. The principles might be something like the following:

    1. We put clients first.
    2. We guide people to reach a destination in an unfamiliar area.
    3. We give sound advice and creative solutions.
    4. We constantly educate ourselves.
    5. We personally practice what we preach.
    6. We take clients only where we have gone ourselves.
    7. We are serial innovators.
    8. We take personal responsibility for our actions and contributions.

    Finally, behind the “what” and “how” of what a firm does is the “why.” These are the core values, the touchstone that brings everyone in the company together and forms the basis of the company’s culture. These values are non-negotiable. Even though a company’s purpose or principles may change over time, the values will stay the same.

    Core values might include:

    1. Authenticity. Our work and personal interactions are based on real, unquestionable evidence, reliability, and trustworthiness.
    2. Unbiased Advocacy. We are defenders, supporters, and interceders on behalf of our clients and one another.
    3. Well-Being. Everything we do is in support of achieving and maintaining, for our clients and one another, a state of being happy, healthy, and prosperous.
    4. Continuous Improvement. We focus on improving our processes, our client experience, and ourselves.

    In exploring the core purpose of a comprehensive financial planning firm, look for a planner who appreciates the importance of both financial health and the well-being it supports. You can’t have well-being without the financial means to support your physical health and emotional happiness.

    Comprehensive financial planning goes beyond helping you build financial independence. It also helps you change destructive money behaviors, clarify your goals, and achieve the dreams that represent happiness to you. In the broadest sense, real financial planning offers investment advice that supports your investment in your own well-being.

    Rick Kahler MS CFP® ChFC CCIM
    http://www.amazon.com/Comprehensive-Financial-Planning-Strategies-Advisors/dp/1482240289/ref=sr_1_1?ie=UTF8&qid=1418580820&sr=8-1&keywords=david+marcinko

    Like

  5. I particularly enjoyed reading the specific examples in this book which pointed out the perils of risk … something with which I am too familiar and have learned (the hard way) to avoid like the Black Death.

    It is a pleasure to come across this kind of wisdom, in print, that other colleagues may learn before it’s too late— many, many years down the road.

    Dr. Robert S. Park MD
    Robert Park and Associates Insurance]
    Seattle, Washington

    Like

  6. Book Review

    Drawing on the expertise of multi-degreed doctors, and multi-certified financial advisors, Comprehensive Financial Planning Strategies for Doctors and Advisors: Best Practices from Leading Consultants and Certified Medical Planners™ will shape the industry landscape for the next generation as the current ecosystem strives to keep pace.

    Traditional generic products and sales-driven advice will yield to a new breed of deeply informed financial advisor or Certified Medical Planner™. The profession is set to be transformed by “cognitive-disruptors” that will significantly impact the $2.8 trillion healthcare marketplace for those financial consultants serving this challenging sector. There will be winners and losers.

    The text, which contains 24 chapters and champions healthcare providers while informing financial advisors, is divided into four sections compete with glossary of terms, CMP™ curriculum content, and related information sources.

    1. For ALL medical providers and financial industry practitioners
    2. For NEW medical providers and financial industry practitioners
    3. For MID-CAREER medical providers and financial industry practitioners
    4. For MATURE medical providers and financial industry practitioners

    Using an engaging style, the book is filled with authoritative guidance and healthcare-centered discussions, providing the tools and techniques to create a personalized financial plan using professional advice. Comprehensive coverage includes topics likes behavioral finance, modern portfolio theory, the capital asset pricing model, and arbitrage pricing theory; as well as insider insights on commercial real estate; high frequency trading platforms and robo-advisors; the Patriot and Sarbanes–Oxley Acts; hospital endowment fund management, ethical wills, giving, and legacy planning; and divorce and other special situations.

    The result is a codified “must-have” book, for all health industry participants, and those seeking advice from the growing cadre of financial consultants and Certified Medical Planners™ who seek to “do well by doing good,” dispensing granular physician-centric financial advice: Omnia pro medicus-clientis.

    RAISING THE BAR

    The informed voice of a new generation of fiduciary advisors for healthcare.

    Ann Miller RN MHA
    http://www.CertifiedMedicalPlanner.org

    Like

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