Join 26,000+ doctors and dentists in the 'Investing for Doctors' Facebook group: https://facebook.com/groups/investingfordoctors 

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In this episode, join me, Dr Bi Mian, and Roger Wheelahan, a financial advisor with over 25 years of experience helping individuals and businesses with succession planning, risk management, and retirement strategies.

Roger shares how doctors can protect their medical practices with strategic buy-sell agreements, why risk insurance is the forgotten foundation of financial planning, and the impact of the Royal Commission on financial advice quality and accessibility in Australia.

He also talks about the truth about superannuation as a tax structure rather than an investment vehicle, the differences between financial advisors and consultants, and the innovative ways to maximise retirement benefits while potentially qualifying for pension cards.

If you want to understand how to properly structure your finances and create tax-efficient wealth strategies that work specifically for medical professionals, then make sure to listen to this episode!

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SHOW NOTES LINKS

https://ifdgroup.com.au/ 

https://doctorbi.com.au/
https://au.linkedin.com/in/mian-bi

Roger Wheelahan’s Links 

https://www.linkedin.com/in/roger-wheelahan-8ba53149/
https://smartstartfs.com.au/ 

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LISTEN TO THE PODCAST

Spotify: https://open.spotify.com/show/07DS5AxlbgmkuvP6zQGgtN
Apple Podcasts: https://podcasts.apple.com/au/podcast/investing-for-doctors-podcast/id1775535608
Amazon Music: https://music.amazon.com/podcasts/b9de46bc-e29d-4402-9e9e-959a3a5dc8da/investing-for-doctors-podcast 

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FIND US HERE

Website: https://ifdgroup.com.au/
Facebook Group: https://www.facebook.com/groups/investingfordoctors
Facebook Page: https://www.facebook.com/investingfordoctors 

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TIME STAMPS

00:00 - INTRO
00:43 - Roger's Background
05:55 - The Royal Commission Being Like "The Wild West"
08:10 - The Catalyst For the Royal Commission
10:31 - The Transformation of the Financial Planning Industry
12:12 - "Principal Agency Dilemma"
17:36 - The Experience Pathway
22:09 - FINANCIAL ADVISOR vs FINANCIAL PLANNER
22:52 - AFSL (AUSTRALIAN FINANCIAL SERVICES LICENSE)
24:46 - Financial Advisor: Who Are They Really?
29:01 - Risk Insurance
34:15 - Retirement Planning
38:25 - Barriers of Entry into The Financial Planning Space
40:38 - "Poor Financial Advice Can Make a Huge Difference"
41:52 - Financial Advisor Costs
46:34 - Service Percentage Fee
48:31 - Conclusion

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DISCLAIMER

The information provided in this podcast is for general purposes only and should not be considered personal advice. Always consult with qualified professionals or experts in the relevant field for personalised advice tai