Healthcare Professionals
Wealth Management for Healthcare Professionals Seeking Flexibility
Get a clear plan to work on your terms—without compromising your future.
Is Burnout Making You Question What’s Next?
As a healthcare professional, you may be:
- Wondering if you can afford to work fewer hours or change roles
- Struggling with guilt or identity loss around stepping back from patient care
- Managing financial complexity after years of high income and lifestyle shifts
- Wanting to support your family’s future without adding more stress
At BGM, we help healthcare professionals like you design a clear plan using your current finances and benefits—so you can take your next step with confidence. Whether you’re looking to reduce hours or change roles, we help turn uncertainty into a clear path forward.
Spencer Davies, CFP®, leads this work with a steady, intuitive approach. As a CERTIFIED FINANCIAL PLANNER® professional with deep experience in physician benefits, he helps clients make confident decisions that reflect both their goals and their values. His process is flexible, high-touch, and built around your demanding schedule. And with in-house tax and trust services, we help simplify your financial life—so you can stay focused on what matters most.
Confidence through Career Flexibility
Create a Plan for Financial Independence
You’ll have a structured strategy to manage income, investments, and taxes—so you can work less (or not at all) without financial stress.
Gain Time—and Peace of Mind
You can focus on your family, interests, and well-being, knowing your financial life is organized and managed.
Feel Supported Through Every Transition
You’ll feel more in control, with a trusted team managing the details and supporting you through your career and life changes.
How it Works
Step 1: Clarify What’s Possible
We start by reviewing your goals, finances, and benefits—so we know exactly what’s possible.
Step 2: Design a Transition Plan
We build a path that helps balance income, benefits, and lifestyle changes.
Step 3: Adjust as Life Evolves
We stay by your side with ongoing support and refinements.
Is BGM Right for You?
We may be a good fit if you:
- Are a healthcare professional seeking more control over your time
- Have investable assets of more than $500,000
- Want a long-term relationship with an advisor who understands your profession and your pressure
Contact us today to learn how we can help you create a more flexible path to retirement.
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Frequently Asked Questions
01 I'm a physician thinking about reducing my hours. Where do I start?
A good place to start is getting clarity on your numbers. We can help you evaluate your current financial position, model what different work scenarios look like financially, and build a plan to support the transition, whether that’s semi-retirement, reduced hours, or a full career change.
02 What does "work-optional" mean, and how do you help me get there?
Work-optional means having the financial freedom to choose whether, when, and how much you work, rather than having your income dictate your schedule. We help you build a structured financial plan that covers income, investments, taxes, and benefits so that stepping back can become a realistic option, not just a hope.
03 How does BGM handle the unique benefits and compensation in healthcare?
Physician compensation often includes layers, including base salary, productivity bonuses, retirement plan contributions, deferred compensation, and employer-sponsored benefits that change significantly during career transitions. We analyze all of it together and coordinate your personal financial plan with your professional benefits to help make sure nothing gets overlooked.
04 What happens to my health coverage if I reduce hours or leave practice before 65?
This is one of the most important questions for healthcare professionals considering a transition. We incorporate healthcare marketplace planning into your overall strategy to help bridge the gap between employer coverage and Medicare eligibility, so you and your family maintain appropriate coverage through the transition.
05 I have significant student loan debt. How does that factor in?
We analyze your debt alongside your full financial picture, including income, assets, benefits, and goals, to help you determine whether to accelerate payoff, refinance, or strategically manage your debt over time. The right approach depends on your tax situation, your career plans, and how your debt interacts with other financial priorities.
06 How does tax planning work for high-income medical professionals?
We take a proactive, forward-looking approach, identifying opportunities throughout the year, coordinating with your investment and retirement strategy, and helping you keep more of what you earn. For physicians, that often means planning around variable income, maximizing retirement contributions, and evaluating strategies like Roth conversions or charitable giving
vehicles.
07 Can you help with estate and legacy planning?
We can. We work with you to create strategies that protect your family, reflect your values, and manage the tax implications of transferring wealth. Because our tax, investment, and trust teams work together, your estate plan is better able to align with the rest of your financial life.
08 I don't have time for complicated financial meetings. How does your process work?
We built our process to be flexible and high-touch, working around your schedule rather than the other way around. After an initial planning phase, most ongoing interactions are efficient check-ins and strategy conversations, with our team handling the details in between. The goal is to simplify your financial life, not add to your to-do list.
09 Does BGM work with healthcare professionals outside of Minnesota?
We do. BGM is headquartered in the Minneapolis-St. Paul area, but we serve medical professionals across the country. Our model is designed for professionals who want coordinated, high-quality financial planning regardless of where they practice.
10 What's the first step?
We start with a complimentary conversation to understand your goals, your current situation, and what’s been on your mind. Whether you’re actively planning a transition or just starting to think about what’s next, we’ll help you see where things stand and what a plan could look like.
