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Exit and Transition Planning for Professional Practices
Integrating valuation, deal structure, and personal financial outcomes into one unified strategy — tailored to your specialty, legal structure, and wealth-building objectives.
Business Owner Advisory
Explore our advisory services designed for founders, partners, and practice owners. Select a service below to preview our approach — then visit the full page for a deeper look.
Financial Planning for Practice Owners
Running a professional practice comes with a unique financial reality — your income is high, but so is your liability exposure, your overhead, and the complexity of extracting wealth from a business built on your personal expertise. Most financial advisors treat you like any other high-income earner. We don't.
BRIM's practice owner planning is designed for physicians, dentists, attorneys, CPAs, and other licensed professionals who own or are partners in their practice. We address the specific challenges of professional service firms — from entity structuring and malpractice protection to retirement plan design and eventual practice transition.
Your practice is your primary wealth-building engine. We make sure everything around it — tax strategy, risk mitigation, retirement accumulation, estate planning, and personal investments — is working together, not against each other.
What Practice Owner Planning Covers
Professional practices have planning needs that differ meaningfully from typical businesses. We address the full spectrum — from the regulatory constraints on your entity to the goodwill-heavy valuation of your practice at exit.
Entity & Partnership Structuring
Selecting and optimizing the right entity — PC, PLLC, S-Corp, or partnership — based on your state's licensing rules, partnership dynamics, and the tax implications of each structure for professional income.
Retirement Plan Maximization
Designing 401(k), profit-sharing, Cash Balance, and defined benefit plans that maximize owner contributions — often $100K–$350K+ annually — while managing employee costs through plan design and eligibility structuring.
Liability & Malpractice Protection
Coordinating malpractice coverage, umbrella policies, disability insurance, and entity-level asset protection — ensuring your personal wealth is insulated from professional liability exposure. All through DPL, commission-free.
Compensation & Distribution Design
Structuring owner compensation — salary vs. distributions, guaranteed payments, and bonus allocations — to minimize self-employment taxes, optimize QBI deductions, and maintain partner equity across the practice.
Tax Strategy & Student Loan Planning
Proactive tax planning with Brian Wendroff, CPA — including Roth conversions during low-income years, PSLF optimization, income-driven repayment strategy, and multi-entity tax coordination across personal and practice returns.
Investment & Wealth Diversification
Building liquid wealth outside the practice through BRIM's proprietary SMA strategies — because your practice is illiquid, concentrated, and tied to your personal labor. Diversification isn't optional, it's essential.
How We Build Your Practice Owner Plan
Practice owners face a distinct set of financial decisions at every career stage. Our process is built to capture the full picture — your practice, your personal wealth, your professional obligations, and your long-term goals.
Practice & Personal Discovery
We audit everything — practice entity structure, partnership agreements, revenue and overhead trends, outstanding debt (including student loans), existing retirement plans, personal investments, insurance coverage, and estate documents.
Tax & Compensation Optimization
Brian Wendroff models your tax picture across entity type, compensation structure, and retirement contributions — identifying the optimal split between salary, distributions, and deferred compensation to minimize your total tax burden.
Retirement Plan Design & Overhaul
We design or restructure your practice's retirement plan to maximize owner contributions. For high-income owners, this often means layering a Cash Balance Plan on top of a 401(k) with profit-sharing — unlocking $200K–$350K+ in annual tax-deferred savings.
Protection & Transition Framework
We build the protective layer — malpractice coordination, disability coverage, buy-sell agreements with partners, estate integration — and begin mapping your practice transition or sale strategy with Bobby Feisee, Esq.
Ongoing Advisory & Growth
Practices evolve — partners join or leave, revenue shifts, regulations change, and personal goals move. We review everything annually with Chris, Brian, and Bobby to keep the plan aligned across your practice and personal wealth.
Tailored Planning for Your Profession
Each profession carries distinct financial complexities — from regulatory constraints on entity type to industry-specific valuation methods and partner structures. We customize the plan to your practice, not a template.
Physicians & Medical Practices
High student loan balances, long training periods with delayed earning, PSLF eligibility, hospital employment vs. private practice decisions, malpractice tail coverage, and the growing complexity of group practice buy-ins and compensation models.
Dentists & Dental Practices
Equipment-heavy capital expenditures, practice acquisition financing, associateship-to-ownership transitions, multi-location expansion planning, and DSO affiliation decisions — all requiring specialized financial modeling.
Attorneys & Law Firm Partners
Partnership capital accounts, guaranteed payments vs. profit distributions, origination credit structures, lateral move economics, and the unique challenge of building transferable enterprise value in a firm built on personal relationships.
CPAs & Advisory Firm Owners
Recurring revenue valuation, succession planning for client relationships, partner buyout structuring, seasonal cash flow management, and the strategic decision between organic growth, acquisition, and roll-up affiliation.
Structures That Accelerate Your Financial Independence
Practice owners have access to powerful wealth-building structures most W-2 earners don't. These are the core strategies we evaluate and implement to help you build financial independence faster — and more tax-efficiently.
Cash Balance Plan + 401(k) Layering
Combining a defined benefit Cash Balance Plan with a 401(k) and profit-sharing plan — allowing total annual tax-deferred contributions of $200K–$350K+ for high-income owners, far beyond standard 401(k) limits.
Backdoor & Mega Backdoor Roth
Implementing backdoor Roth IRA contributions and — where plan design allows — mega backdoor Roth strategies within your practice's 401(k) to build tax-free retirement wealth alongside tax-deferred accumulation.
Reasonable Compensation & S-Corp Savings
Optimizing the salary-to-distribution split for S-Corp or PC owners — a strategy that can save $30K–$60K+ annually in self-employment and payroll taxes when modeled and documented correctly.
Own-Occupation Disability Coverage
Securing true own-occupation disability insurance — which pays if you can no longer practice your specific specialty, not just any occupation — a critical distinction for surgeons, dentists, and other procedure-based professionals.
Practice Value Transfer & Succession
Using buy-sell agreements, installment sales, GRATs, and valuation discounts to transition practice ownership to partners, associates, or family — while minimizing transfer taxes and maintaining continuity of care.
Student Loan Optimization
Modeling PSLF eligibility, income-driven repayment plans, refinancing timelines, and the tax implications of loan forgiveness — integrated with your broader tax and retirement strategy so every dollar is allocated optimally.
One Team, Built Around Your Practice
Practice owners need advisors who understand the intersection of professional income, business operations, and personal wealth. BRIM coordinates the entire team — so every decision is informed by the full picture.
The One-Size-Fits-All Advisor vs. The BRIM Approach
Your Practice Built Your Wealth — Now Protect and Grow It
Whether you're an early-career associate, a mid-career partner, or planning your transition — we'll build a strategy that treats your practice and your personal wealth as one integrated plan.
Questions? Seeking Further Insight?
Share insights into your current personal and financial status free of charge and with no strings attached. You'll have the chance to interact with a professional in wealth management, providing a space for tailored conversation and responses to all your queries.