BEST Financial Advisor for Physicians in Florida 

BEST Financial Advisor for Physicians in Florida 

Choosing a financial advisor is one of the most important career decisions that a doctor will make, but rarely is this approached in an intelligent, informed way.

Most professionals are simply too busy to take an active role in their investment planning and leave the majority of such decisions up to their financial advisor.

3 Essential Questions to ask to find the best financial advisor:

  • Does this financial adviser have proper qualifications?
    • Are there any conflicts of interest?
    • Will there be a written, legal contract?

A qualified financial planner is a generalist who has done the appropriate courses that cover the many different areas of overall financial planning, including debt management, estate planning, funding children’s education, and insurance needs.

A financial planner will create and provide you with a written financial plan that addresses these issues.

While you may be fixated on your debt, or your retirement, or insurance protection, or saving towards some specific stuff or experiences — a good advisor will help you look at and balance all of your needs in all of these areas.

A good professional financial advisor should have a broad and deep knowledge of personal finance.

There may be areas, aspects, or options that you had not considered because you didn’t even know they existed.

 

3 Top Investing Errors Physicians should be aware

 

Acting on Emotion

Fear and greed are said to be the drivers of market sentiment.

When euphoria prevails, unsavvy buyers often rush to purchase investments.

In contrast, market downturns may offer bargains, yet many investors sit on the sidelines or, worse, decide to liquidate portfolios.

Having an investment plan with well-defined objectives can help control emotional pressures.

Working steadily towards measurable goals helps to focus on outcomes rather than the process.

Other tactics may include a dollar-cost averaging program ,which helps to prevent emotion from dictating investment purchases.

Avoiding daily attention to the performance of investment accounts may also help to limit emotional responses.

Failure to Adjust

The financial markets are constantly changing and the prospects of specific companies, industries or even entire classes of securities can be attractive today, but not tomorrow.

Be ready to adapt.

Equally important, your needs may change and your holdings may require periodic adjustments as circumstances evolve.

Remember, you are not marrying a particular security: the purpose of investing is to earn a solid return, not own XYZ company forever.

Overlooking Diversification

The concentration of assets in too few areas can be a common problem.

Despite the broad-based market declines we have recently experienced, certain sectors have performed very differently.

Some technology companies have outperformed as a result of distancing practices, whereas industries dependent on travel and tourism have suffered significant short-term setbacks.

Even during non-crisis times, regardless of the high quality of investments, there is always the danger that a bad quarter or certain industry developments may adversely affect equity values.

No single asset class has consistently performed at the top over time.

As such, it is important to maintain a healthy balance of diversification across your assets.

How does a great financial plan for physicians stay on track?

A financial plan is a manifesto that emerges as you and your Advisor work together to understand you and your goals.

It’s a written statement that reflects your hopes and ambitions.

And it changes as needed so that it’s always an up-to-date reflection of your wishes and financial situation.

Lack of Time Physicians Financial Planning in Florida

In today’s modern day and age, we seem to share the struggle of not having enough hours in the day. Each week you have 168 hours. The typical work week is around 40 hours. That leaves you with 128 hours, of which at least 56 hours should be dedicated to sleep.

After commuting and eating, which totals somewhere around 15 hours a week.

You are left with just 43 hours to play with your kids, go to the gym, or relax.

That leaves no time for you to spend on your financials.

A financial adviser spends their 40-hour work week dealing with other’s financials.

They will also help you gain some hours, avoiding the stress of dealing with your finances.

 

Even Professionals Need Help Financial Advisor for Physicians in Florida

Financial advice is a lot like driving a vehicle, no matter how much time you spend driving, you will always have blind spots.

No matter how much knowledge one has in investing, mutual funds, retirement planning, or one of the other many areas of financials, everyone has blind spots.

An advisor can help you identify these spots and develop a solution. When it comes to finances, no one wants to get into an accident because they didn’t check their blind spot.

Mintco Financial – Fiduciary Financial Advisors

Your money beliefs impact your ability to create wealth.

We help our clients create a confident relationship with wealth and break free from financial stress.

We empower clients to build resilience and a positive wealth mindset so they can enjoy a fulfilling, impactful, Work-Optional Life – free from stress.

Why Mintco Financial?

When you trust Mintco Financial Advisors with your wealth management, you’re choosing a sophisticated alternative to mainstream wealth management.

You’re putting your money in the hands of knowledgeable, experienced and professional financial advisors.

Our boutique firm has a history of combining data-driven insights with decades of industry experience to serve our clients’ needs for wealth management, succession planning, retirement planning, estate planning and investment management.

Schedule your complimentary appointment today.

Call us at 813-964-7100

info@mintcofinancial.com

www.MintcoFinancial.com