As a doctor running a medical practice, you face unique challenges – long hours, intense yet rewarding work and the constant pressure to achieve entrepreneurial success.
When you’re so busy, it’s easy to miss out on what’s really important in life – spending time with family and friends and enjoying the rewards of your hard work.
What matters to you?
As specialist advisers to medical professionals, Perpetual understands these universal challenges doctors face. We also know that you have unique circumstances and dreams for yourself and your family.
We take the time to understand you and your goals. We will work with you to create a tailored financial strategy and portfolio of investments to help you achieve them. With the right plan in place to protect and grow the wealth of your family and practice, you’ll have more time to spend on what really matters to you.
Whether you’re setting up your practice, growing your practice or planning for business succession, our team also has the experience to guide through the business and investment decisions you will face along the way, so you stay organised and in control.
Perpetual has been a trusted financial adviser for doctors in private practice for decades. We think of client relationships as long-term partnerships, built on trust, with our advice both relevant and transparent. We also explain complex situations simply.
Get in touch with us today to create your blueprint for financial freedom and life-long security for your family.
Meet our clients
Whether you’re a recent fellow or already setting up your practice, the early stages of your career are an exciting time. The decisions you make now can make a big difference in the future. At this stage of your career, here are some of the Perpetual services which have helped doctors like you:
Strategic financial advice
Strategic advice is advice that synthesises a whole range of factors – your personal and family situation, current circumstances, your goals and attitudes to things like risk, spending and investment ethics. By working through all these issues with you, your Perpetual adviser can help you create a real financial plan – a roadmap that ensures every financial decision you make moves you closer to your goals. No more missed opportunities, no more regrettable last-minute decisions. A strategic approach to financial freedom and creating a wealthier, happier you.
Wealth, lifestyle and business protection
As a doctor you know only too well that accidents happen. We can‘t protect you from these, but as part of our ‘protect and grow’ strategy we can help protect your income and lifestyle should something go wrong.
Our insurance strategies encompass life insurance, total and permanent disability, trauma insurance and income protection. Just as importantly, we tailor those insurances to be tax-effective, to work effectively together, to integrate with your investment and superannuation strategies. We’ll also make sure the insurance you need to protect your practice is not overlooked.
For doctors, managing debt starts early. There are student loans to repay as soon as you transition from training to your first job – and then there’s the mortgage, potential property investments and school fees in the mix.
Whether you’re starting out, expanding or buying new equipment, debt will also play an important part in growing your practice. But what is the best way to manage your debt?
At Perpetual, we’re always careful to build debt management into your financial plan. We can also help you find the right loan, consolidate and refinance high-cost debt, and structure repayments in a way that lets you grow your practice without sacrificing the lifestyle you’ve earned.
An investment property (or properties) can make up a large part of your portfolio and carry a similarly large burden when it comes to maintenance, accounting and tax management. Across everything from purchase, rental, management and sales our property experts can help you maximise the return and tax benefits of property investing whilst relieving you of a significant compliance and management workload.
Strategic tax planning
Tax obligations go hand in hand with running a small business. While there’s the tax you should pay, many doctors who run their own practice pay more than they need to. This isn’t surprising, as finding the right strategy to minimise your tax bill can be complex and time-consuming.
The advisers at Perpetual can work with your current accountant, or you can benefit from the tax and accounting experts at our specialist accounting firm, Fordham. Our accounting firm Fordham, specialising in work with business owners and managers, achieved an exceptional NPS score of 75 in 2020.* Together, they can help you to understand your practice and develop a flexible, legal tax strategy that reduces your paperwork, compliance burden, tax bill and headaches!
The rewards of running your own private practice are enormous. As with any small business, however, there are risks and pitfalls along the way. As a registered doctor you have medical indemnity insurance in place, however this may not be enough to protect your business and personal assets, such as an investment property, if there are legal judgements against you.
Our team will help you develop asset-protection strategies including separate legal structures and other arrangements specifically to separate your business assets from your personal ones.
Should I invest more in my practice? What about shares or super? How about my property?
There’s no right or wrong answer to these questions. Just what’s right for you. You may want more income, maybe you’d like to grow the value of your practice, or simply protect your nest egg.
With a deep understanding of where you are now, what you want for yourself and your family, your attitudes to investing, risk and much more, we’ll carefully design an investment strategy that is aligned to your goals.
You may have different financial goals, or maybe your goals require a mix of investments. That’s why it’s important to have a broad array of investment choices. Our award-winning* investment team offer you multiple options to choose from or combine. These include direct shares, managed funds (including ethical options), fixed income, real estate, alternative assets and exclusive investments not normally available to individuals.
Super is the most tax-effective way to build your wealth for the future. We will help you find the right platform for your super, including setting up a self-managed super fund that lets you stay in control of your investments. We also work with you on an optimum contribution strategy to maximise your super balance.
Managing your practice
The team at Fordham act exclusively for private business owners, business managers and their families. We help you grow your practice and succeed through careful planning and strategy. As a specialist part of Perpetual, we can bring you unrivalled expertise when it comes to turning your business success into assets that safeguard the future of those you care about.
We can also advise on ways to improve profitability, simplify your administration and manage people. If you’re looking to expand or even exit your practice, we can advise on the best strategy for this too.
* The Perpetual Income Opportunities Fund and Perpetual Growth Opportunities Fund celebrated 10 years in market in 2019.
Perpetual was recognised as Best Alternative Investment Manager of the Year and the Perpetual Income Opportunities Fund has won Best Multi Strategy Fund two years running at the Hedge Funds Rock Australian Alternative Investments Awards held in Sydney (2018-2019).
Transition to retirement
Highly ambitious individuals don’t work one day and retire the next. However, your priorities will change as you move through career. As you begin to wind down your working hours and step back from the day-to-day of running your practice, you might want to supplement your income with a pension from your super to maintain your income. If you’re eligible, we can put in place a transition to retirement strategy that lets you do just this.
Succession planning or sale?
When considering how to exit your practice, your first big decision could be whether you want to sell your practice or set up a succession plan. Either way takes careful planning and preparation. We can advise you on what type of ownership transfer is best for you.
If you sell, we can advise on the right way to go about it, such as trade sale, management buy-in / buy-out, initial public offering (IPO), private equity, gift or orderly wind down? Different forms of sale have different advantages and we will work out which best suits your circumstances.
We can also help with tax management, timing of the sale and even ways to retain equity for the future.
It’s understandable, but untrue, to think that estate planning conversations are about death. They’re about how you can help the people and causes you love after you’ve gone. When you’re not there to help them in person, that job passes to the legal and financial structures you create. Think about it that way and you can see that wills, estate plans, powers of attorney and trust structures are how you extend a helping hand long after you’ve gone. At Perpetual, our job is to help you do that as easily, efficiently and fairly as possible.
OUR ADVISERS – IN THEIR OWN WORDS
Phill is the Partner of NSW’s Medical division.
He is responsible for the development, oversight and implementation of the national advice strategy and capability for medical specialists.
Phill has specialised in providing financial advice to healthcare professionals since 1989, with the first 18 years of his career being in the UK, before emigrating to Australia with his family in 2008.
Prior to moving to Australia, Phill held senior management, strategy development and advisory positions, in two of the UK’s largest financial institutions, before setting up his own practice in 1999.
In 2003, he was a founding partner in one of the UK’s largest privately owned Independent Financial Advisory firms.
Phill’s expertise extends across a broad range of financial matters including superannuation (including SMSFs), investment strategies, personal and business risk management, as well as debt management. As a regular presenter at Business and Financial Lifestyle courses for Medical Specialists across the country, he takes his role as a financial mentor, coach and educator very seriously and his relationships with his clients are collaborative ones, characterised by the aim of helping his clients achieve their desired lifestyle.
Warren works as a Specialist Medical Senior Adviser based at Perpetual’s Sydney office.
Warren has been providing financial advice to clients since 1990 and has been involved in the financial services industry since 1985.
Prior to establishing his own practice in 1990, Warren worked for one of Australian's largest financial institutions, providing training services and technical assistance to many of Australia's pre-eminent financial advisers. Warren has also held senior product development positions within another of Australia's largest financial groups.
Today, as a specialist financial adviser exclusively to healthcare professionals, Warren works closely with clients to help them build and protect their wealth by designing and implementing strategies that dovetail with their personal and financial goals. This often involves working hand in hand with a client’s tax accountant and estate planning lawyer to achieve end to end financial solutions.
Due to his extensive background and experience, he is regularly asked to advise both domestic and international banks, fund managers, and insurers on product development initiatives that aim to address the unique needs of healthcare professionals.
Warren holds the internationally recognised Certified Financial Planner ® or CFP ® qualification and has completed a Diploma of Financial Planning. Warren is active within a number of professional associations including the Financial Planning Association.
Daniel is the Partner of VIC’s Not For Profit and Medical division.
He has a deep understanding of the unique needs and strategic objectives of not-for-profit organisations and helps them develop best practice investment policies as well as connecting them with Perpetual’s philanthropic resources.
Prior to joining Perpetual, Daniel was Senior Financial Adviser to the Private Clients of Halifax Bank of Scotland Australia (HBOSA) and HSBC Bank Australia.
His international experience was gained in Canada as a Financial Adviser for nine years with Assante Capital Management.
Rachelle is a Specialist Medical Senior Adviser at Perpetual’s Canberra office and joined the financial services industry in 1999.
Prior to joining Perpetual in 2009, Rachelle was a Senior Financial Adviser with Civic Financial Planning.
Rachelle has extensive experience in the Commonwealth Public Sector superannuation schemes.
Rachelle can provide sophisticated strategic advice in relation to retirement planning, superannuation, wealth creation and investment management.
Andrew is the Partner of SA’s Not For Profit division.
With over 32 years experience, Andrew specialises in advice to large complex organisations, family offices, not-for-profit clients and philanthropic trusts. He has a deep understanding of the unique needs and strategic objectives of not-for-profit organisations and helps his clients implement best practice investment policies. Andrew also connects clients to other parts of the Perpetual business, including Philanthropic services.
Prior to joining Perpetual, Andrew held senior adviser roles within commercial and private banking based in Adelaide for the last 9 years. Andrew has also held senior manager roles in institutional banking at JPMorgan Chase, Deutsche Bank and Royal Bank of Scotland in Tokyo, Singapore, London, New York and Sydney over a period of 20 years.
Andrew has a Bachelor of Business (Finance), Advanced Diploma of Financial Planning, is an accredited Self- Managed Super Fund adviser (SMSFA) and speaks several languages.
Daniel is a Specialist Medical Senior Adviser at Perpetual's Perth office and joined the financial services industry in 2008. He provides financial solutions for high net worth clients and their families.
Daniel specialises in working with Medical Specialists and Native Title Groups. Client focus with high levels of integrity and advocacy has defined Daniel’s career.
From what our clients tell us the only constant in the career of a medical professional is an unwavering dedication to patient care. Everything else is in a constant state of flux – learning to run a practice, earning higher incomes, acquiring bigger homes and debts, more responsibilities and complexity. That’s why your financial strategy needs to evolve with you.
We understand your life
Making considered decisions early can ensure your high income is optimised throughout your career. Many of our medical professional clients benefit from advice on tax-effective ways to convert their income into growing capital, how to protect their family and assets, getting their practice ready for sale and managing their super so they can carry their current lifestyle into retirement.
We understand the shifting challenges you face as a medical professional – whether you’re commencing your practice, at your career peak or preparing for life after work. A tailored financial strategy that builds and protects your wealth takes time and planning. But the benefits can be significant and life changing – and Perpetual would be happy to help you.
All the services you need for your practice
Do you need help with:
- staff contracts?
- legal support when taking on another partner?
- managing and balancing accounts?
Perpetual is an ASX-listed, diversified financial services company which has been serving Australians since 1886 when it was established as a trustee company by a group of businessmen including Sir Edmund Barton, later to be Australia’s first Prime Minister. That trustee heritage – and the culture it created around putting clients first – is what makes Perpetual unique.
We have been earning the trust of our clients for more than 130 years and pride ourselves on our long-standing client relationships – some of which span five generations.
Trust is earned, every day.
Watch as Perpetual's CEO Rob Adams talks about how trust has to be earned every day. And introduces a telling true-to-life example.
Our investment philosophy is to protect and grow your wealth by carefully selecting suitable investments that reflect the level of risk you're comfortable with, as well as your investments objectives. To achieve this, we diversify risk across asset classes, within asset classes, across countries and fund managers. We take a long-term approach to investing because we believe quality investments yield benefits in the long run. Our advisers and investment specialists have a high duty of care in developing portfolios and ensuring Perpetual’s stringent quality investment filters are met.
TAKE YOUR FIRST STEP - CONTACT US ON 1800 631 381
Or please submit the form below and a specialist adviser will contact you. 97%* of Perpetual Private clients are happy with the quality of their financial advice. *Perpetual Net Promoter Score Survey (research conducted by Woolcott Research).