In a previous post, “What’s Dentist Specific Wealth Management Got to Do With It?” I explained that wealth management is really the heart of where “gap-bridging” occurs between your many personal and professional interests … so you can relax and enjoy the whole life you desire. The best way to bring – and keep – these pieces together is through clear, confident process.
If you’ve got a sensible process in place – one that’s been individually and professionally custom-tailored for your own objectives and circumstances – you have a guideline to help you find your way, no matter how murky the future may be. (As it so often is!) Following are some of the big-picture steps I take in my own wealth management services:
Discovering and setting goals — With regular and frequent meetings, I help you discover and maintain an intimate knowledge of your greatest financial challenges and dreams, as they are today and as they may evolve over time.
Forming and maintaining a written plan — By forming a written plan that you regularly revisit, we keep you focused on your stated goals, helping you revise them when appropriate, and avoid the many temptations and traps that might otherwise knock you off-course.
Coordinating ongoing activities — Relationship management also includes managing your range of professional advisor relationships. By acting as your personal Chief Financial Officer, I ensure that your lawyers, insurance experts, bankers, consultants, practice managers and others are moving as a team, each in his or her specialty, toward your common highest interests.
The Helping Hand of a Process-Oriented Wealth Manager
Naturally, each of these processes include many moving parts within them, including particular steps, educational materials, planning documents, team members, spreadsheets, and so on and so forth.
Careful management of these details is important, but if you focus on them too mightily, you can get lost in their forest and abandon your well-built plans when the going gets tough. Not to mention, as a busy dentist, you’ve got much better things to do with your limited time!
To draw inspiration from motivational speaker Dale Carnegie: “When you are afraid, keep your mind on what you have to do. And if you have been thoroughly prepared, you will not be afraid.” Helping you prepare for and keep your eyes on your unique big picture is another way the steadying, process-oriented hand of yours truly can come in, well, handy.
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