Westmark Wealth Management

Westmark Wealth Management

is a comprehensive financial planning firm specializing in tax-efficient strategies designed for physicians to grow and utilize insurance to protect their wealth. Westmark was founded out of a desire to create a comprehensive financial planning experience to meet the unique needs of physicians from residency to retirement. Physicians face many financial challenges: high asset protection needs, a limited amount of time after training to achieve their financial goals, high tax liabilities, and large student loan balances to name a few.

With over 25 years of combined experience in working with physicians to achieve their financial goals, our firm’s founding partners work with financial, tax and legal professionals to develop goals-based financial plans and implement strategies to reach our clients’ financial goals in the most efficient and comprehensive way possible.

The professionals at Westmark Wealth Management are fee-based, fully independent and held to a fiduciary standard. Independence is the cornerstone of any advisory relationship. In meeting with a professional about something as personal as finances, it is important to know that the person you’re meeting with is your advocate, not your salesperson. Furthermore, a financial advisor held to a fiduciary standard is legally required to act in the client’s best financial interest, not their own, and requires disclosure of how the financial advisor is to be compensated.

The founding partners at Westmark are perennial qualifiers of The Million Dollar Roundtable, an organization that recognizes the top 3% of financial advisors worldwide. They have also been featured in Medical Economics and recently received the 2013 Wealth Manager Award from Five Star Professional.

Services
At Westmark Wealth Management, we understand that each individual area of your financial planning has the potential to affect all the other areas of your finances. Small gaps or overlap in each of these areas have a tendency to lead to larger problems later if left unaddressed. For this reason, we strive to implement and monitor strategies in each of these areas to create an overall plan that is efficient, well-balanced, and coordinated.

Retirement Planning: Physicians have a shorter time span to reach financial independence than the average professional. As a result, employer-sponsored retirement accounts alone will not typically provide the contribution levels required to replace the income needed in retirement. Therefore, other tax-efficient wealth accumulation strategies must be implemented to fill this gap. You may have several options for funding retirement you’re not even aware of. At Westmark Wealth Management, we specialize in helping you to define what a successful retirement means to YOU, and then identify, educate you on, implement, and manage tax-efficient wealth accumulation strategies to reach your retirement goals in the most efficient way possible. If structured properly, your retirement strategies will save you as much as possible in taxes today AND in the future when you distribute your wealth.

Asset Protection: When it comes to asset protection from potential personal or professional lawsuits, there are only two time frames: the time before an event occurs that could trigger a lawsuit, and the time after that same event. In other words, the insurance entities available to protect your assets from a lawsuit only do so if they are in place before a triggering event. Rarely is there anything you can do after an event to reactively protect assets