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Partnership advice

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  • MaxPower
    I wouldn't say shady. They're probably one of the least bad of the FA firms, BUT, that doesn't mean they don't do suspect things. For a lot of physicians they are probably great--keep an eye on things, access to decent funds (DFA), and encourage and can steer you into good disability policies. For someone who is motivated, the price you pay is to steep (particularly the AUM fees) in my opinion.

    Disclaimer: I fired my Larson advisor shortly after becoming an attending. I had ~ $260,000 of student loans and my person didn't know anything about refinancing student loans and got pushy on their version of a universal life policy, despite our multiple prior conversations about how all I wanted was term insurance. For a firm that "specializes" in physicians to not have a single idea about student loan refinancing (but then push universal life) was a huge red flag to me, so I got out. Haven't looked back. Maybe they'd be good for your situation, but I'd hate tiger locked into a yearly arrangement with them just for that.

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  • sheilayvette
    started a topic Partnership advice

    Partnership advice

    Recently I was offered partnership. It's a small practice (the owner and me) and possibly a 3rd person in the future. I get along great with the owner and want to move forward but I don't understand much about the finances of the practice. I contacted the Larson financial group and they gave me a quote for 3,000 a year for financial advice for me (more to get me started investing, which would be done by me, not them, I just want someone to keep an eye on things). They also would make a financial assessment of the practice and give me advice on how to structure the partnership. Reading on another physician financial blog, most of the MDs said that the Larson group was shady and it was too expensive. I would love to hear your opinions and suggestions. Thank you!