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Looking for a Financial planner in Tampa Bay area

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  • Looking for a Financial planner in Tampa Bay area

    Anyone here from the Tampa Bay area that can recommend a good financial planner? We just need someone who will go over the basics of what we need to be doing or what we need to have set up at this point in our life. We're in our 30s and have a w2 and a 1099 that's under a LLC. We just got an umbrella policy and that got me thinking if there's anything else we need to set up that we did not know we need. I guess I just need someone to basically like give us a checklist and make sure we have everything covered (like disability, umbrella,) while also helping us with some tax planning questions and asset protection advises. Thank you

  • #2
    Very unlikely you are going to find a local planner with the added tax and physician-specific knowledge recommended here in your physical vicinity who is not also a salesman. You need something along the lines of a financial checkup, but you’ll have better chances of success going virtual. Start here and good luck!
    Our passion is protecting clients and others from predatory advisors. Fox & Co CPAs, Fox & Co Wealth Mgmt. 270-247-6087

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    • #3
      If you're both doctors and have kids, mortgage, student loans you both need enough term life + own occ disability to cover all that. If I'm stating the obvious I apologize. The 1099 income in the LLC needs a SEP. It sounds like you both need backdoor ROTH. Not sure what retirement vehicle for W2 income. After maxing out SEP, backdoor ROTH etc you need to open Taxable Brokerage @ Fidelity (or Vanguard). This doubles as your EF. While doing that I had money left over to finish off our student loans. I didn't prepay mortgage (even @ 6%!). There is no "financial guy" in Tampa that I would recommend. Largely self-taught. My accountant helped me with SEP and contract review. My Dad set me up with his financial guy in Tampa who will remain nameless. I closed that account 6 months later and Dad jumped with me to Vanguard. WCI offers a pretty basic- Fire Your Financial Guy online which I think you'd get a lot out of. It seems like a lot at first but it's not. You made it through med school and residency/boards. There was no ROTH when we started.
      You ask about asset protection, that's what med mal policy is for. We were negative $$$ at the start.
      Wait until you've got 5M to set up trust, saves some money. Good Luck

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      • #4
        I like this group. i've met with them. I didn't need anything they could offer me but i thought they did a good job on their consultative review.
        https://www.northbridgefg.com i'm a DIY but if this is something you want to outsource......

        they used to give a lot of free seminars pre-covid...always go for the steak dinner (though i don't eat the steak) and key lime pie.

        My accountant CPA is also CFP(R) and chFC and i think there are a lot of CPAs in the area that also do long range planning...we usually do a sit down with our CPA right after tax season to go over the good, bad and ugly and strategize for the next year.... he wants us to redo our trust because he thinks there is too much unprotected money if we die...maybe i'll take his advice.
        Last edited by bean1970; 03-24-2021, 05:03 AM.

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        • #5
          Agree with JFox, you won't likely find someone local. We recently went through a search and settled for non-local. Good thing is that with everything on Zoom for the last year, there is a lot more availability.

          We use Evanson Asset

          Fixed Cost, they were one of the first to widely offer fixed cost. They are passive investors.

          www.evansonasset.com

          Don't let the simple website fool you. They literally have a bad website so that they don't attract customers after a flashy website and show.

          Whoever you use, be sure to check their required disclosures to see about any lawsuits (search the threads on this).

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          • #6
            bean1970 you discredit yourself. You're suggesting that OP gets advise where you won't even get skanky steak dinners? "I didn't eat the steak?" Really ?

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            • #7
              Originally posted by PhotonsRGR8 View Post
              bean1970 you discredit yourself. You're suggesting that OP gets advise where you won't even get skanky steak dinners? "I didn't eat the steak?" Really ?
              Because i'm a vegetarian. The firm is pretty legit for one stop shopping because they have advisors, accountants, attorneys, etc. They are independent and fiduciary. We went there solely for asset protection needs when we moved into the state. they gave us a bunch of information and that was the end but i still get their schedule of seminars. It was actually at the steak dinner that i learned about defined benefit plan and that Schwab had the most competitive pricing. We were toying at that time to set up one but then my husband ended up w2 so our needs changed. i already had an accountant and our estate plan was already done (which they reviewed)...so we didn't really have anything we needed from them. all i gave them was my time.

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