Accelerating Cash Flow & Building Wealth

Todd Doobrow, financial planner, has always had a passion for wealth management. After graduating college, Todd acquired years of experience working with high profile athletes and businessmen. When his wife unexpectedly inherited her late father’s dental practice, Todd was forced to let go of his usual clients and resettle in small-town Alabama, where he assisted his wife with managing her practice. After a short time in the business, Todd quickly realized the massive growth potential in dentistry, which drove his career in a new direction. For the past decade, Todd has focused on educating dentists in over 20 states on how to accelerate cash flow to build their dream life.

Todd understands that a true fiduciary relationship is about putting the client’s needs first, understanding their goals, and working with them to create a plan that they know will work for them. In order to achieve this, Todd emphasizes the importance of education. To best serve his clients, Todd uses a simple, six-step process to help guide his clients to their goals. By first focusing on giving, protecting income and assets, establishing emergency funds, and planning for debt, Todd explains you can reach your fun financial goals with ease. 

Tune into this week’s episode of 21st Century Dentistry to get all your common financial questions answered by industry expert, Todd Doobrow. Learn tips on how you can improve your operational and investment efficiencies to build the practice and life you’ve always wanted. 

 

Quotes

• “Anything that we can do to help your dollar work harder is ultimately going to help you get to that end game sooner, regardless of what that end game looks like.” (08:22-08:30)

• “Our practice believes that you should give up front, not at the end.” (11:11-11:13)

• “We've got a documented plan that we'd like to work through with everyone. So that when we bring clients on, they know exactly where they are in the process the whole time.” (12:56-13:06)

• “Most accountants that I work with say, if you're just going to be in one practice, you're not really an independent contractor.” (01:09:08-01:09:13)

• “If you're trying to buy in to a practice,  from what I've seen, it's better to be a W2 associate because when you go to the bank to get the loan to buy the the retiring doctor out, you can say, ‘part of this is me, here are my hours,  here's my production, and here's everything I've done. So they will view that as you integrating into the practice better.” (01:10:28-01:10:50)

• “Everyone wins more when you can actually get a true IC in the books, which is probably why the IRS doesn't want you to do it.” (01:13:27-01:13:34)

• “If you can look at dentistry from a long term perspective, it's one of the best things you can ever do.” (01:17:00-01:01:17:05)

 

Links 

Connect with Todd: https://rfgadvisory.com

 

Connect with Jon Harris on Facebook:

https://www.fortunemgmt.com

https://www.facebook.com/jon.harris.39545

https://www.facebook.com/fortunemgmtmidsouth

https://www.facebook.com/fortunemgmtgeorgia

Follow Jon on Instagram: 

@jonharris_ 

@21stcenturydentistry

 

Podcast production and show notes provided by HiveCast.fm