Skip Navigation

A Further Look | Apr 25, 2023

Lessons From Our Client Physicians: Exceptional People Require Exceptional Solutions

David B. Root, Jr.


Our firm works with a number of physicians to secure their wealth and help them clear a path to achieve their personal and professional goals. Physicians are exceptional people for reasons we all understand. But they also have accentuated financial and lifestyle challenges that if handled successfully, can provide valuable lessons for all of us.

To serve physicians’ needs effectively, DBR & CO Physician Wealth seeks to match their level of dedication, skill, and expertise. This is a commitment we make to all clients, not just physicians. In order for us to hone in on any client’s needs, our guidance must be specific and consistent with their unique situations, and we must deliver our advice with the precision of an expert and the care of a fiduciary. We are inspired by the physicians’ code: ‘A physician shall uphold the standards of professionalism and be honest in all professional interactions.’ The code clarifies roles and responsibilities within the profession and provides guidance to physicians for addressing common ethical questions.

Consider the standards that physicians set for themselves. They earn trust by maintaining a high level of competence backed by credentials and education. Why would our industry ever settle for standards that are anything less? As trained and certified financial advisors, we also seek to provide continuity of care. We are a team of experts prescribing remedies for causes of pain while having a ‘bedside manner’ that reassures one that they are going to be OK. The similarities are numerous.

In addition to advising individual physicians and their families, DBR & CO works with a number of healthcare organizations and the retirement plans they offer to employees. Recently, members of our team visited one of our larger healthcare clients in Colorado to meet with a group of fellows. A fellow is a doctor who is in training for a subspecialty - in this case, Orthopedics. We were anxious to learn more about the exciting futures that lie ahead for the fellows, as well as the challenges they are acutely experiencing at this stage in their promising careers. Our team led off by asking what their key concerns were. The most prevalent response from the room? “What is your philosophy on insurance?” Their biggest concern was how to protect their assets.

Naturally, we discussed numerous other key matters during the meeting, such as how to mitigate the impact of taxes, how to take full advantage of their employer’s retirement plan, how to prioritize and optimize cash flows, and how to construct a well-balanced portfolio. But our conversation with these fellows brought into light the most important asset we all must protect - our ability to earn a paycheck and accumulate wealth.

Young physicians who have worked and sacrificed through years of education from the best schools will likely need a plan to address their student loans, especially in the face of rising interest rates. Medical school graduates carry a median of $200,000 in student loan debt. This is one of the issues we cover in our program designed specifically to address the needs of fellows.

In addition to advising on education and personal debt, we help both early-career and established physicians manage critical matters like rapid income inflection, complex tax liabilities, complicated compensation and employment issues, family wealth planning and even professional stress and burnout. For young physicians, burnout may not be front-of-mind; however, the more esteemed they become, the more burnout they will likely experience.

In our partnership with physicians, we are able to provide bespoke expertise that addresses their unique concerns. We strive to do the same with high-net-worth individuals, multi-generational families, successful young professionals and corporate retirement plans.
With the right tools, training and resources, we are able to assist in overcoming unique challenges faced by physicians. We are honored to help those who dedicate their lives to helping others. In the end, we find that treating one’s wealth isn’t so different than treating one’s health. In either case, the desired outcome is ensuring the patient or client feels they are going to be OK, no matter the challenge. As trusted advisors, we strive to be the first person you call when you have questions about your financial health. And remaining true to our creed of serving, we still make house calls.

Thanks for reading.

This material has been provided for general, informational purposes only, represents only a summary of the topics discussed, and is not suitable for everyone. The information contained herein should not be construed as personalized investment advice or recommendations. Rather, they simply reflect the opinions and views of the author. D. B. Root & Company, LLC. does not provide legal, tax, or accounting advice. Before making decisions with legal, tax, or accounting ramifications, you should consult appropriate professionals for advice that is specific to your situation. There can be no assurance that any particular strategy or investment will prove profitable. This document contains information derived from third party sources. Although we believe these third-party sources to be reliable, we make no representations as to the accuracy or completeness of any information derived from such sources, and take no responsibility therefore. This document contains certain forward-looking statements signaled by words such as "anticipate," "expect", or "believe" that indicate future possibilities. Due to known and unknown risks, other uncertainties and factors, actual results may differ materially from the expectations portrayed in such forward-looking statements. As such, there is no guarantee that the expectations, beliefs, views and opinions expressed in this document will come to pass. Information presented herein is subject to change without notice and should not be considered as a solicitation to buy or sell any security. All investment strategies have the potential for profit or loss. Asset allocation and diversification do not ensure or guarantee better performance and cannot eliminate the risk of investment losses. The impact of the outbreak of COVID-19 on the economy is highly uncertain. Valuations and economic data may change more rapidly and significantly than under standard market conditions. COVID-19 has and will continue based on economic forecasts to have a material impact on the US and global economy for an unknown period.

David B. Root, Jr.


Founder & Chief Executive Officer

How Can We Help?