How Financial Advisors Add Value for High-Net-Worth Doctors
There comes a time in your financial journey where, after years of hard work, you’ve accumulated enough wealth that you feel you need some assistance to manage it.
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There comes a time in your financial journey where, after years of hard work, you’ve accumulated enough wealth that you feel you need some assistance to manage it. The question then becomes: How to decide whether an advisor is “worth” their fees?
Many high-net-worth doctors hesitate to work with a financial advisor out of fear that the advisor doesn’t have their best interests at heart. They may also be worried that the fees associated with outsourced investment expertise outweigh the potential returns. These are valid concerns. Which is all the more reason why it’s important to understand the different types of advisors and the services they offer. Because if your advisor isn’t providing you value beyond the fees they charge, they might not be the right fit for you.
The Fiduciary Standard: Your Interests Come First
Not all financial professionals are created equal. Many investors are wary of advisors because they’ve heard stories about commissions, hidden incentives, or product pushing. This can be a concern with one class of advisors who works under what’s known as the “suitability standard”; as long as what they recommend is “suitable” for their clients, they can earn commission on the products they recommend. This kind of advisor typically works for a broker-dealer.
At Earned, our advisors operate under the much stricter fiduciary standard, meaning they are legally obligated to act in your best interest. There’s no conflict of interest and no selling products to generate commissions. With a fiduciary advisor, every decision is made with one guiding principle: maximizing your long-term wealth and protecting your legacy.
Our focus isn’t on “selling”; it’s on establishing a meaningful partnership. Our advisors strive to learn what matters most to you, so we can achieve your long-term goals together.
Understanding Fees as an Investment in Value
One of the most common misconceptions about financial advising is that advisor fees outweigh the benefits. But this perspective overlooks the measurable value that can be delivered through an advisor who integrates tax efficiency, market strategy, and holistic planning.
Medical professionals have their own unique needs. Maybe you’re a practice owner trying to solve cash-flow and insurance challenges. Maybe you’re looking to sell or buy a practice—and are trying to balance planning for your future while navigating current career goals. Because our Earned advisors work exclusively with doctors and medical professionals, we have a focused view into the challenges facing our clients. We design comprehensive wealth-building strategies that include investing, tax planning, career advisory, insurance, debt and cash management, and trust and estate planning with our clients’ particular considerations in mind.
That’s how we build wealth—and ensure you get real value.
A Tax-Planning Example
Taxes are one of the largest expenses you’ll face as an investor. Without proactive tax planning, high-income physicians can end up paying far more than they need to. It’s no surprise to see then that, according to a recent PricewaterhouseCoopers survey of high-net-worth investors, 47% say they want to turn to their advisor specifically for tax planning. That’s because they recognize the benefits a comprehensive tax plan can have on their overall finances.
One way Earned advisors help doctors minimize their tax burden is through tax loss harvesting. This strategy involves the strategic sale of assets when they’re underperforming in order to produce “losses” that can be used to offset the gains on other parts of your portfolio. By taking advantage of moments of market decline, tax loss harvesting ultimately lowers your tax burden — and saves you money. Our approach at Earned produces an average of 1.9% tax savings each year.** Compare that with advisory fees, and you’ll quickly see how the math can works in your favor.
Fees Only Matter in the Absence of Value
It’s natural to be skeptical of the traditional assets under management fee model, especially when you’re used to managing your investments on your own. But the reality is simple: Fees are only an issue when an advisor isn’t delivering meaningful value.
For high-net-worth doctors, the right advisor shouldn’t be someone you pay to sell you even more products. Your advisor should have expert insight to deliver strategies that are tailored to your needs as a medical professional. That’s why at Earned we offer a wealth management experience built on true partnership and relationships, purpose-built strategies for doctors and practice owners, and long-lasting impact through our tax strategies.
Let’s talk to make sure you capitalize on all the ways your Earned advisor can help you save and improve your financial health. Contact your advisor to set up a meeting today.
* Sources: The Kitces Report, Evaluating Financial Planning Strategies and Quantifying Their Economic Impact, Volume 3, 2015 (https://docs.google.com/spreadsheets/d/1o6r2_ycVXPMbLa3zXTej2YX3LhzGkvt6iHK6BWU5yc4/edit#gid=0) Morningstar paper by David Blanchett and Paul Kaplan, Alpha, Beta, and Now... Gamma, August 28, 2013 (https://www.morningstar.com/content/dam/marketing/shared/research/foundational/677796-AlphaBetaGamma.pdf) Vanguard paper, Putting a value on your value: Quantifying Vanguard Advisor’s Alpha®, July 2022 (https://advisors.vanguard.com/iwe/pdf/IARCQAA.pdf) Envestnet paper, Capital Sigma: The Sources of Advisor-Created Value, 2019 (https://www.investpmc.com/sites/default/files/documents/PMC-CAP-SIGMA.pdf) CFA research paper, “An Empirical Evaluation of Tax-Loss-Harvesting Alpha” by S.E. Chaudhuri, T.C. Burnham, and A.W. Lo, published in the Third Quarter 2020 Financial Analysts Journal (https://www.cfainstitute.org/en/research/financial-analysts-journal/2020/empirical-evaluation-tax-loss-harvesting-alpha) MGMA’s data report, Provider Pay and the Pandemic: Realizing Recovery, 2021 Deloitte research paper, Business Succession Planning - Cultivating Enduring Value, 2015 (https://www2.deloitte.com/content/dam/Deloitte/us/Documents/deloitte-private/us-dges-business-succession-planning-collection.pdf) The information is for educational purposes only and is not a solicitation to buy or sell any security or insurance product, nor an offer to provide investment advice. All examples are for illustrative purposes only and may not be relied upon for investment decisions. These hypothetical examples do not represent any client’s experience, and all investing involves risk. Past performance is no guarantee of future success. Nothing contained herein should be construed as legal or tax advice and is not intended to replace the advice of a qualified tax advisor or legal professional. The information presented may have been compiled from third-party sources we believe to be reliable but cannot guarantee its accuracy or completeness. Investment advisory services offered through Earned Wealth Advisors, an SEC-registered investment adviser. **Savings from tax loss harvesting is different from portfolio performance. For example, tax savings can be positive even if overall portfolio performance over the same time period is negative. The tax savings percentage is net of fees and calculated by dividing tax loss harvesting savings by a client's overall portfolio value (which incorporates the payment of asset management fees) at the end of the year. The client universe for determining the average was all clients invested for the full calendar year 2023 in the Custom Indexing Global ADR strategy, sub-advised by Brinker Capital Investments, LLC, a registered investment advisor. The range for individual client tax savings percentage was 3.43% to 0.11% over that 12-month period. A similar analysis is not available for longer periods of time. Actual tax savings for an individual will vary and depend on a particular client's long- and short-term federal and state tax rates and portfolio-specific factors such as investment strategy, investment performance in future years, capital gains budget, yield, portfolio turnover, contributions and distributions, and other factors. Investors should consult with a licensed CPA regarding their particular tax situation. The use of losses harvested through the strategy will depend on the recognition of capital gains in the same or future tax period. Earned provides a report to its clients so they can see their own personal tax savings. Not all Earned clients choose or are eligible for the Custom Indexing Global ADR strategy, a tax-managed strategy which seeks to replicate a blended index (70% Russell 3000 Index and 30% MSCI ACWI ex US Index) through the direct purchase of individual securities. Please contact Earned if you would like the portfolio performance results of the strategy. Earned Wealth Advisors, LLC is an SEC-registered investment adviser located in Walnut Creek, CA. Registration as an investment adviser does not imply a certain level of skill or training. Earned Wealth's website is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publication, and links. All examples are for illustrative purposes only and may not be relied upon for investment decisions. The publication of Earned Wealth's website on the Internet should not be construed by any consumer and/or prospective client as Earned Wealth's solicitation or attempt to effect transactions in securities, or the rendering of personalized investment advice over the Internet. A copy of Earned Wealth's current written disclosure statement as set forth on Form ADV, discussing Earned Wealth's business operations, services, and fees is available from Earned Wealth upon written request. Additional Information about Earned Wealth and our advisors is also available online at https://adviserinfo.sec.gov/. Earned Wealth does not make any representations as to the accuracy, timeliness, suitability or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting or tax advice. We recommend that you seek the advice of a qualified attorney and accountant. Investing involves market risk, including possible loss of principal and investment objectives are not guaranteed.
Earned Wealth Advisors, LLC is an SEC-registered investment adviser located in Walnut Creek, CA. Registration as an investment adviser does not imply a certain level of skill or training. Earned Wealth's website is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publication, and links. All examples are for illustrative purposes only and may not be relied upon for investment decisions. The publication of Earned Wealth's website on the Internet should not be construed by any consumer and/or prospective client as Earned Wealth's solicitation or attempt to effect transactions in securities, or the rendering of personalized investment advice over the Internet. A copy of Earned Wealth's current written disclosure statement as set forth on Form ADV, discussing Earned Wealth's business operations, services, and fees is available from Earned Wealth upon written request. Additional Information about Earned Wealth and our advisors is also available online at https://adviserinfo.sec.gov/. Earned Wealth does not make any representations as to the accuracy, timeliness, suitability or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting or tax advice. We recommend that you seek the advice of a qualified attorney and accountant. Investing involves market risk, including possible loss of principal and investment objectives are not guaranteed.
How Financial Advisors Add Value for High-Net-Worth Doctors
Back to Learn Center* Sources: The Kitces Report, Evaluating Financial Planning Strategies and Quantifying Their Economic Impact, Volume 3, 2015 (https://docs.google.com/spreadsheets/d/1o6r2_ycVXPMbLa3zXTej2YX3LhzGkvt6iHK6BWU5yc4/edit#gid=0) Morningstar paper by David Blanchett and Paul Kaplan, Alpha, Beta, and Now... Gamma, August 28, 2013 (https://www.morningstar.com/content/dam/marketing/shared/research/foundational/677796-AlphaBetaGamma.pdf) Vanguard paper, Putting a value on your value: Quantifying Vanguard Advisor’s Alpha®, July 2022 (https://advisors.vanguard.com/iwe/pdf/IARCQAA.pdf) Envestnet paper, Capital Sigma: The Sources of Advisor-Created Value, 2019 (https://www.investpmc.com/sites/default/files/documents/PMC-CAP-SIGMA.pdf) CFA research paper, “An Empirical Evaluation of Tax-Loss-Harvesting Alpha” by S.E. Chaudhuri, T.C. Burnham, and A.W. Lo, published in the Third Quarter 2020 Financial Analysts Journal (https://www.cfainstitute.org/en/research/financial-analysts-journal/2020/empirical-evaluation-tax-loss-harvesting-alpha) MGMA’s data report, Provider Pay and the Pandemic: Realizing Recovery, 2021 Deloitte research paper, Business Succession Planning - Cultivating Enduring Value, 2015 (https://www2.deloitte.com/content/dam/Deloitte/us/Documents/deloitte-private/us-dges-business-succession-planning-collection.pdf) The information is for educational purposes only and is not a solicitation to buy or sell any security or insurance product, nor an offer to provide investment advice. All examples are for illustrative purposes only and may not be relied upon for investment decisions. These hypothetical examples do not represent any client’s experience, and all investing involves risk. Past performance is no guarantee of future success. Nothing contained herein should be construed as legal or tax advice and is not intended to replace the advice of a qualified tax advisor or legal professional. The information presented may have been compiled from third-party sources we believe to be reliable but cannot guarantee its accuracy or completeness. Investment advisory services offered through Earned Wealth Advisors, an SEC-registered investment adviser. **Savings from tax loss harvesting is different from portfolio performance. For example, tax savings can be positive even if overall portfolio performance over the same time period is negative. The tax savings percentage is net of fees and calculated by dividing tax loss harvesting savings by a client's overall portfolio value (which incorporates the payment of asset management fees) at the end of the year. The client universe for determining the average was all clients invested for the full calendar year 2023 in the Custom Indexing Global ADR strategy, sub-advised by Brinker Capital Investments, LLC, a registered investment advisor. The range for individual client tax savings percentage was 3.43% to 0.11% over that 12-month period. A similar analysis is not available for longer periods of time. Actual tax savings for an individual will vary and depend on a particular client's long- and short-term federal and state tax rates and portfolio-specific factors such as investment strategy, investment performance in future years, capital gains budget, yield, portfolio turnover, contributions and distributions, and other factors. Investors should consult with a licensed CPA regarding their particular tax situation. The use of losses harvested through the strategy will depend on the recognition of capital gains in the same or future tax period. Earned provides a report to its clients so they can see their own personal tax savings. Not all Earned clients choose or are eligible for the Custom Indexing Global ADR strategy, a tax-managed strategy which seeks to replicate a blended index (70% Russell 3000 Index and 30% MSCI ACWI ex US Index) through the direct purchase of individual securities. Please contact Earned if you would like the portfolio performance results of the strategy. Earned Wealth Advisors, LLC is an SEC-registered investment adviser located in Walnut Creek, CA. Registration as an investment adviser does not imply a certain level of skill or training. Earned Wealth's website is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publication, and links. All examples are for illustrative purposes only and may not be relied upon for investment decisions. The publication of Earned Wealth's website on the Internet should not be construed by any consumer and/or prospective client as Earned Wealth's solicitation or attempt to effect transactions in securities, or the rendering of personalized investment advice over the Internet. A copy of Earned Wealth's current written disclosure statement as set forth on Form ADV, discussing Earned Wealth's business operations, services, and fees is available from Earned Wealth upon written request. Additional Information about Earned Wealth and our advisors is also available online at https://adviserinfo.sec.gov/. Earned Wealth does not make any representations as to the accuracy, timeliness, suitability or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting or tax advice. We recommend that you seek the advice of a qualified attorney and accountant. Investing involves market risk, including possible loss of principal and investment objectives are not guaranteed.
© 2025 Earned Wealth Advisors, LLC.
Investment advisory services offered through Earned Wealth Advisors, an SEC-registered investment adviser.