MBA Financial Planning Prescription

Introduction to Financial Planning: It is a journey, not a destination.

Construction of a comprehensive financial plan that acknowledges un-predictability, is an essential requirement of our integrated physician-centric approach. Once protected from downside risk, the major financial concerns of the affluent, as determined by the Lincoln Financial Group, are: Preserving wealth (70 percent) Avoiding excessive taxes (59 percent) Decline in stock market value (53 percent) Passing wealth to children (46 percent) Accumulating more wealth (38 percent) Preserving their business or medical practice (24 percent)

Perhaps that's why more than 63% of all respondents indicated that they were at least somewhat likely to seek professional help, and envisioned a team consisting of a financial advisor, accountant and attorney. Yet, any planning is always heartfelt and challenging because chaos is the constant element of life. Personal circumstances change and the healthcare industrial complex is in constant flux. True financial planning is a journey of continual process improvement, and not a destiny. Progress toward your personal goals is the benchmark, not some composite index or annualized rate of return.

Therefore, we try to methodically create your financial plan like a physician would approach a diagnostic dilemma. We do this with a model, called the financial plan prescription, that combines both the financial planning process, with the traditional problem orientated medical record format, used by physicians.

We physicians feel most likely to seek professional help from a team of financial advisors, accountants, Certified Medical Planners and attorneys.

In order to construct this dynamic plan, your independent Certified Medical Planner advisor will: 1) Subjectively establish and define your relationship and explain all services, bilateral responsibilities, and estimated relationship length, along with a frank discussion of risk tolerance, decision-making power and fees. 2) Objectively document signs of your present situation by gathering personal financial data, including goals and objectives, so that recommendations are based on reality, not perception. 3) Analyze your current objective financial situation to determine what is needed to meet all your personal, financial, business and lifestyle goals. 4) Assess and make recommendations and alternatives that address goals, based on the provided information. Recommendations are carefully explained so that you can make informed decisions about: Assets, liabilities, budgeting and cash flow Employment contracts or practice entity status Employment contracts or practice entity status Mortgages, vacation homes, boats or auto purchases College funding, disabled or gifted child planning Alternate Dispute Resolution (ADR) and mediation

Tax and AMT strategies and pro-active tax planning Risk management, insurance, disability, and annuities Stocks, bonds, ETFs, mutual funds, or municipals securities Portfolio creation for qualified/non-qualified accounts Behavioral finance, risk tolerance and career re-modeling Divorce, single, widowed, elderly or alternate lifestyle planning Retirement planning, IRAs, SEPS, or 401-k and 403-b plans Pensions, profit sharing, money purchase and tandem plans Practice sales, transfers or business succession planning Wills, trusts, charitable giving and estate plans

5) Plan and implement recommendations with a time frame and task list that details your progress. You may execute the plan yourself, with an iMBA affiliate, your own planner, Certified Medical Planner, or team with our corporate professionals in complex cases. 6) Monitor and change your financial plan as you sojourn toward goals, and make adjustments as circumstances dictate. The creation and development of an un-biased plan is the raison d'etre of iMBA. Furthermore, when an asset management program is concurrently used, your affiliate advisor will review the plan along with your quarterly portfolio report, for an integrated view of your entire situation. Such diagnostic checks reduce the likelihood of fiscal pathology. *Since we emphasis process over sales, and advice over commissions, financial planners do not generally sell financial products. However, when requested and as required, our advisors select from an array of proprietary and non-proprietary products and negotiate the best price for you. Of course, results are never guaranteed.