Close this search box.

Medical Professionals

You are a medical professional who has dedicated your life to helping others. You may be a medical student, an experienced doctor, or even own your own practice. You have worked hard to achieve your goals and you deserve to enjoy the rewards of your efforts. But you also face unique challenges and opportunities that come with your profession, such as high and potentially variable cashflow, complex tax and legal issues, and long-term planning for retirement and generational wealth transferring.
We understand your situation because we have helped many clients like you before. We can provide you with tailored financial advice that suits your needs and aspirations.

How We Help

As a medical professional you will have a better understanding than most what additional training and knowledge is required to specialise in a particular field. The same applies to providing financial advice to medical professionals, where a wealth of knowledge and specific skillset are paramount to achieving financial success.

More so than any other occupation or profession, medical professionals require a holistic approach to financial advice. From investments to insurances, estate planning to financing, and everything in between, a consistent and considered approach is required to ensure the best possible outcome.

As different medical specialists focus on different parts of the body, financial advisers, asset consultants, tax specialists, accountants, solicitors and financiers focus on different aspects of your financial affairs. At Custodian Financial Group we have brought together leading experts in each profession to ensure that all the pieces of your financial puzzle fit together. As the conduit for this advice model, the first of its kind in the Canberra region, we take away the pain and hassle of keeping your financial affairs in order by allowing you to outsource to a trusted professional.

Financial advice firms that ‘cast a wide net’ generally do not have the experience or knowledge to cater to more sophisticated clients such as medical professionals. For this reason, many financial advisers do not have an appropriate service offering for medical professionals. With over 50 years combined experience in servicing medical professionals, you can rest assured knowing that our advisers are well-positioned to achieve the best possible outcome for your organisation.

Having advised medical professionals from a wide range of specialties, we understand that each specialty is unique and comes with its own set of challenges and opportunities. For this reason, we are very conscious to have an intimate understanding of your circumstances before providing any specific recommendations.

We have partnered with a leading asset consultant to develop investment solutions specifically for medical professionals. This relationship also ensures our portfolios attract lower pricing and we have far greater capacity to monitor and review our clients’ portfolios than a traditional financial advisory firm.

Because medical professionals typically have a high net wealth and strong earnings capacity, it is important that any financial plan take advantage of the additional investment opportunities that this position affords. Our sophisticated investment approach will help to maximise your future earnings, without taking undue risk.

Our investment suite for medical professionals includes traditional asset classes such as Australian shares, international shares, property, infrastructure and fixed interest, as well as the option to incorporate certain overlays to increase/decrease the exposure to specific investments (e.g. to avoid unethical businesses). These various overlays are applied on an individual basis, to ensure your portfolio is consistent with your objectives and personal values.

As a high-income earner, you incur a significant tax liability each and every year. Whilst it is important that we each pay our fair share of tax, it is also important to structure your financial affairs as tax effectively as possible to give you the greatest opportunity to achieve financial success.

Did you know that high income earners can lose almost half of their return in tax if their investment portfolio isn’t structured tax effectively? However, with the right financial plan it is possible to reduce your tax liability significantly (and in some cases be eligible for a tax deduction).

Given the tax implications of various investment strategies, we are conscious that the net (i.e. after tax) return is the most important factor for financial gain. As such, our investment menu has been carefully selected to minimise tax and maximise the amount you get to keep in your back pocket.

Having spent your junior years studying and training to get where you are today, you undoubtedly want to achieve financial freedom in retirement. One of our key objectives is to afford our clients the opportunity to retire as soon as possible (whether or not they choose to) and know that their financial resources will provide a safe and secure retirement.

We use sophisticated modelling to provide guidance on your future financial position over time, which is personalised to take into account the projected income of your specialty and your ongoing expenditure requirements. This tool allows you to make real-life decisions, such as when you choose to retire and your ongoing capital expenditure (e.g. holidays, financial support to children, etc.).

Whilst ensuring the best possible financial outcome is a critical component of our service offering, this advice is only half complete if you do not understand your capacity to live your ideal lifestyle in retirement (whether that be spending Australian winters in Europe, providing financial support to family, or simply enjoying the peace of mind that financial security provides).

While superannuation is an important investment vehicle for all Australians saving for retirement, medical professionals are better positioned than most to take advantage of this concessionally taxed environment.

Superannuation is often viewed simply as a means for investing. However, as a high-income earner, you are well positioned to utilise superannuation to help reduce your ongoing tax liability (and the sooner you start, the greater the benefit!).

Through our large scale, we have negotiated reduced superannuation fees that are even less than the most cost-effective industry funds, whilst still providing the ability to develop a more sophisticated investment strategy in line with your needs. Whether investing through a low-cost retail fund or a self-managed superannuation fund, we have the ability to establish and maintain the most appropriate option for your circumstances.

In your field of work, you deal with the unpredictability of life on a daily basis. Diagnosing, treating and assisting the community is important work, which is why you should have a specialist making sure your financial future is protected.

Losing your ability to generate an income could be catastrophic for you and your family. Personalised and tailored insurance cover can minimise or even negate the impact of being unable to work, ensuring you and your family can continue to maintain your quality of life.

Our internal Risk Specialist will you find the balance between coverage and affordability, providing peace of mind without costing you an arm and a leg.

Our internal financing team specialises in lending to medical professionals. Whether you are looking to buy a commercial property, start a new practice, lease a vehicle through your business or simply take out/refinance a home loan, our team has the experience and knowledge required to ensure the best possible outcome for your specific circumstances.

Given the generous borrowing limits/interest rates that are available to medical professionals, many of our medical professional clients also look to use the equity in their home to generate wealth. Borrowing to invest in long-term assets targetting capital growth can both reduce your tax liability and maximise your wealth position.

The first step to determining what, if any, borrrowing is appropriate for your circumstances is to get an understanding of your goals and objectives. By developing a robust financial plan in the first instance, we can then ensure your debt is structed most tax and cost-effectively.

As a medical professional, you have likely seen first-hand the significant emotional and financial toll that death or incapacity can have on an individual’s family. Whilst we can never avoid the grief caused by the loss of a loved one, we can ensure that your family’s financial position remains robust, thereby avoiding any additional stress, through the provision of a well-constructed Estate Plan.

At their most basic form a Will can stipulate how you would like your financial assets to be distributed on your death, and an enduring Power of Attorney can authorise another individual to make financial and/or medical decisions on your behalf if you are incapacitated. However, medical professionals typically have sophisticated financial affairs and a robust Estate Plan can provide asset protection and significant tax benefits for your beneficiary/ies.

We work closely with Solicitors that specialise in Estate Planning to give you peace of mind that your family will be well placed to remain financial secure in the event that you are unable to generate an income due to death or incapacity. This process also takes into account your personal needs, which can be discussed with our internal Risk Specialist.

If you are a medical professional looking for financial advice, you may find our Wealth Through Health piece useful. It covers some of the most common questions we are asked, strategies that you should keep in mind and a case study for a retiring practitioner. You can access it by clicking below.

What Our Clients Say About Us