What do you think about the list of the Best Financial Advisors for Doctors?

[jfoxcpacfp]

I've been "advised" at various times to see what it takes to make this list. So I finally decided to check it out and was surprised at what I learned. Allen Roth (whom I really respect) nominated his pooch for this award and he almost made it. Mr. Tailwager himself is a veteran of the industry, having already been named in 2009 as one of Consumers' Research Council of America's Top Financial Planners.

Do you know of an advisor who is one of the "Best Financial Advisors for Doctors"? This firm, for example, has been on the list for several years running. Is this trick common knowledge among medical professionals and would it mean a lot if you were looking for an advisor? Since I doubt I'll ever "make" the list, I'm truly curious as to how such a designation may influence your decision.

[Zaphod]

I think it is common knowledge after you get out, its just a marketing gimmick I suppose. I of course dont trust any of these designations, nor even the more realistic "best of" your city ones, while those are much more representative and have no conflict of interest, you still have top of mind marketing winning the day since most just nominate the name/place they are most familiar with. For example, mcdonalds often wins best burger or such thing, due to density and familiarity and lack of experience among other contenders. I am always shocked at the food winners since its usually McDonalds like, places where you would certainly not eat expecting to get the best in town.

This is the market we live in. Whether you agree with it or not, it must work to some extent.

[jfoxcpacfp]

Zaphod wrote:

I think it is common knowledge after you get out, its just a marketing gimmick I suppose. I of course dont trust any of these designations,

Click to expand...

Color me gullible - it was a surprise to me.

[Osiris]

First off I want to say that Alan Roth is one of the good guys and I think you could do a whole lot worse with financial advisors than Maxwell Tail wagger, his  five year old Dachshund. If you need advise go and call him.

I remember talking to my spouse, and making a smart ****************** remark that it was being the Best Finacial Advisor in Medical Economics is like being named the best doctor in America( you just had to hand over the cash). My spouse did not believe that it was rigged till I read her the small print in Medical Economics.

White coat investor and Bogleheads.org  fight the good fight.

Physicians are easy marks for fake credentials and are to trusting and are prime targets. Today I got a call of a  "Dr Smith" to get past the secretary,  so he could talk to me  into  an investment, which could not miss.

[The White Coat Investor]

Yes, I love those "best doctors in America" lists in the airline magazines.

[VagabondMD]

Best Financial Advisors for Doctors, in my opinion, would be doctors, actively practicing or retired from practice. All else is marketing to a large audience with a relatively large, consistent income. When I see more lists like Best Financial Advisors for Car Mechanics (or for port authority bus drivers or for postal workers...) perhaps I will change my opinion.