WEALTH MANAGEMENT FOR DOCTORS AND MEDICAL PROFESSIONALS

HELPING YOU MAKE THE MOST OF WHAT YOUR CAREER EARNS, ALL IN ONE PLAN

Wealth management for medical professionals

You have spent your career taking care of other people. Your financial life deserves the same attention.

LRVS helps doctors, surgeons, dentists, and their families make confident decisions about their wealth, from the years of building it through retirement.

Your priorities depend on how you practice. If a hospital or health system employs you, most of the choices sit inside the benefits package: a 403(b), a 457(b), or both, how much to put in, and what changes when your compensation does. If you own a practice or are thinking about a partnership, the questions reach further: what you pay yourself, how the practice retirement plan is set up, and what buying in will cost you.

Medical professionals in conversation, representing LRVS Advisory Group’s clients

Financial Planning and Wealth Management for Medical Professionals

LRVS Advisory Group provides financial planning and investment management for medical professionals, employed and in private practice. We design and manage your finances around your goals, your priorities, and the life you want to live. That includes how long you want to practice, the people who depend on you, the lifestyle you want to maintain, and what you want your wealth to make possible.

One advisor. Your whole financial picture.

You work with one advisor who knows your whole situation and acts as your family CFO, alongside your accountant and your attorney rather than in place of them. We manage your benefits, taxes, investments, coverage, and estate documents as one plan.

The Decisions That Come With a Medical Career

These are the parts of your financial life we manage together.

Benefits and Compensation

A 403(b), a 457(b), or both, and the elections your employer asks you to make each year.

Practice Ownership

What you pay yourself, how the practice retirement plan is built, and the terms of a buy-in.

Tax Planning

The decisions that have to be made before the year closes, worked through with your accountant.

Investments

Accounts left at training programs and past employers, pulled together and run as one portfolio.

Income Protection

Whether your disability coverage would pay if you could not practice your own specialty.

Estate and Legacy

Documents, titles, and beneficiaries that still say what you meant them to say.

Retirement Planning

When you can step back, and which accounts your income comes from once you have

Each one changes the others. We make them together, so a decision in one place does not quietly undo a decision in another.

Your Benefits, Your Practice, and Your Taxes

Large healthcare systems offer a wide set of benefits with little guidance on how to use them. We go through the elections with you each year and decide what to contribute and where, including the accounts left behind at previous employers and training programs.

If you own or are buying into a practice, the questions change. What you pay yourself, how the practice retirement plan is designed, and the terms of a buy-in all shape what you can put away. We plan those together, so the practice and your own retirement are not competing for the same dollar.

Most of what can be done about tax has to be done before the year closes, not when the return is prepared. Through the year we work alongside your accountant on retirement contributions, deferred compensation elections, when to take investment gains, and charitable giving in a year when your income runs high.

Smiling physician participating in a group training session

Protecting Your Income and What You Have Built

Your ability to practice is the largest financial asset most doctors hold, and it took years to acquire. We read the disability and life coverage you already have and tell you whether it would do what you assume it does. Group coverage through a hospital is often capped, and the definition may not protect a specialist who could still work elsewhere.

If you own the practice, two more policies matter. Coverage that keeps the practice running if you cannot work, and funding behind the buy-sell agreement, so a partner leaving does not land on whoever is left.

Estate documents drift from the accounts they were written for. A trust gets signed but never funded, a beneficiary designation still names someone from a previous decade, or property changes hands while the documents stay as they were. We look for those gaps and work with your attorney to close them.

Passing a practice to a partner or to the next generation is its own piece of work, and it sits with legacy and family business.

Planning for the Retirement You Want

The end of a medical career is rarely a date on a calendar. It is a sequence: fewer shifts, then no call, then a role you let go, then perhaps a practice you sell. Two questions decide how that goes, and both sit at the center of retirement planning: when you step back, and where your income comes from once you have.

Deciding When and How You Step Back

Most physicians arrive at retirement through several decisions rather than one. You may reduce your schedule, come off call, leave a role, sell the practice, or finish earlier than you once expected. We model each of those, including a practice sale that comes in below what you hoped for. You see what each choice does to your income and your spending before you commit to it.

Your Income in Retirement

In retirement the work moves to where the income comes from and what it costs in tax. We decide which accounts you draw from and in what order, because that sequence sets how much tax you pay across a whole retirement. A 403(b) and a 457(b) have different distribution rules, and the proceeds of a practice sale need a home. We set that order with you and revisit it as your spending settles. We also watch the income thresholds that raise your Medicare premiums.

Why Medical Professionals Choose LRVS

Doctors are marketed to heavily, often by people whose recommendations are tied to a product they sell. How an advisor is paid, and who they answer to, shapes the recommendations you get.

Independent advice

LRVS Advisory Group is an independent registered investment advisor. We are not owned by a fund company, and there is no product line we are expected to sell.

One trusted advisor

When a hospital contract or a buy-in lands in front of you, the person you call already knows your whole situation.

Coordination beyond investments

We work alongside your accountant and your attorney, so your decisions are not made in isolation.

Meet Our Advisors

Spencer Graham

Financial Advisor

Patrick Lawler, CFP®

Founding Partner

Jeff Van Siclen, CFP®

Founding Partner

Marc Instrum, CFP®

Financial Advisor

Getting started

Getting Started With LRVS

Working with us begins with three conversations:

01

An introductory meeting

to see whether we are a good fit

02

A discovery meeting

to understand your equity, your taxes, and your goals

03

A plan presentation

to review our recommendations and assumptions

After that we meet regularly to review the plan, and we are available in between whenever something comes up. The introductory meeting is confidential and carries no obligation.

Questions Doctors and Medical Professionals Ask Us

Both can allow eligible employees to defer income for retirement, and some healthcare organizations offer access to both. The plans differ in important ways, including their distribution rules and, depending on the type of 457(b) offered, the protection the assets carry. The right approach depends on the plans available to you, your tax situation, and how long you expect to stay with the employer. Our guide to retirement accounts and their rules covers the differences.

The buy-in price is the headline number and rarely the whole figure. There is how you finance it, what the repayment does to your take-home while it runs, how the practice retirement plan treats a new partner, and what the partnership agreement says happens if you leave. We work through those with you and your attorney before you sign.

The amount matters less than the definition. Group coverage through a hospital or practice is often capped and may not cover bonus or production income. It is also taxable to you when the employer pays the premium, which leaves the benefit smaller than the headline percentage suggests. The question worth answering first is whether it would pay if you could not perform your own specialty, rather than any occupation at all.

It does not have to be one or the other, and for many hospital-employed physicians it should not be. If a nonprofit system employs you, public service loan forgiveness may make paying the loans down early the more expensive choice. Retirement contributions can also lower the income your payments are calculated on. Refinancing into a private loan forfeits that eligibility permanently, so it is worth modeling before you sign anything.

Financial planning at LRVS is typically a flat annual fee, and investment management is charged on a tiered schedule based on the assets we manage for you. What that comes to depends on your situation, and we go through the numbers in the introductory meeting before you decide anything.

It depends on which kind of 457(b) you have. A governmental 457(b) can usually be rolled into an IRA or a new employer’s plan. The nongovernmental plans many hospital systems offer cannot, and the balance is often paid out on the schedule the plan sets, sometimes as a lump sum in a single tax year. Reviewing the plan document before you resign, with your LRVS advisor, keeps the timing yours.