How You Can Eliminate Financial Confusion & Fear with Dental Wealth Alliance CEO, Tim McNeely

10/18/24 • 34 min

Most dentists focus solely on clinical excellence, which is expected. But when was the last time you paid attention to the financial health of your practice?

If it’s been a while for you, then here’s everything you need to know.

In this episode, I sit down with Tim McNeely, founder and CEO of Dental Wealth Alliance, to talk about how dental professionals can eliminate financial confusion and fear.

Tim brings his wealth management expertise to the table, focusing on key strategies that include tax mitigation, retirement planning, and practice exit strategies tailored specifically for dentists.

From the five pillars of wealth management to the importance of stress testing your financial plan, this conversation uncovers everything you need to know to protect your practice and personal wealth.

If you’re ready to make smart, strategic moves for your financial future...this episode is for you. Tune in!

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Key Takeaways:

Introduction (00:00)

Meet Tim McNeely & the financial advice dentists need (03:01)

The five key pillars of wealth management (07:11)

How the rich manage their wealth (11:50)

When you need a wealth management advisor (14:30)

Is your advisor getting good results for you? (22:38)

Stress testing your financial plans (25:45)

Final thoughts & lighting round Q&A (28:44)

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Connect with Tim:

Facebook

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Learn proven dental marketing strategies and online reputation management techniques at DrLenTau.com.

This podcast is sponsored by Dental Intelligence. Learn more here.

This podcast is sponsored by The Doc Sites, the leading provider of websites and online marketing for dentists. Find out more here.

Raving Patients Podcast is your go-to place for the latest and best dental marketing strategies that will help you skyrocket your practice. Follow us for more!

Most dentists focus solely on clinical excellence, which is expected. But when was the last time you paid attention to the financial health of your practice?

If it’s been a while for you, then here’s everything you need to know.

In this episode, I sit down with Tim McNeely, founder and CEO of Dental Wealth Alliance, to talk about how dental professionals can eliminate financial confusion and fear.

Tim brings his wealth management expertise to the table, focusing on key strategies that include tax mitigation, retirement planning, and practice exit strategies tailored specifically for dentists.

If you’re ready to make smart, strategic moves for your financial future...this episode is for you. Tune in!

—

Key Takeaways:

Introduction (00:00)

Meet Tim McNeely & the financial advice dentists need (03:01)

The five key pillars of wealth management (07:11)

How the rich manage their wealth (11:50)

When you need a wealth management advisor (14:30)

Is your advisor getting good results for you? (22:38)

Stress testing your financial plans (25:45)

Final thoughts & lighting round Q&A (28:44)

—

Connect with Tim:

Facebook

—

Learn proven dental marketing strategies and online reputation management techniques at DrLenTau.com.

This podcast is sponsored by Dental Intelligence. Learn more here.

This podcast is sponsored by The Doc Sites, the leading provider of websites and online marketing for dentists. Find out more here.

Raving Patients Podcast is your go-to place for the latest and best dental marketing strategies that will help you skyrocket your practice. Follow us for more!

Previous Episode

You Know It, But Do You Do It? Turn Knowledge Into Action Today With Brenda McNulty

Are all the great insights from the dental conferences you assist gathering dust?

While investing in continuing education is a must for dental practice owners, it doesn’t necessarily mean that the learnings are being put into practice.

So, how do you take the step from knowledge to implementation?

Today, I sit down with Brenda McNulty, a dynamic leader in the dental industry with over 30 years of experience in both clinical and business settings.

As the owner of DSO Facts, Brenda excels in transforming dental practices by putting knowledge into action. Her work focuses on creating accountability systems and empowering teams to work efficiently, both in-office and remotely.

In this episode, we tackle a problem many practices face: learning new strategies but failing to put them into practice. Brenda and I touch on how leadership, proper implementation plans, and accountability can take your practice from stagnant to thriving.

We also touch on the difference between consulting and fractional training, how to monitor your KPIs, and much more.

If you're ready to stop wasting time and money and start turning your new knowledge into real results, then don’t miss this episode. Tune in!

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Key Takeaways:

Introduction (00:00)

Brenda McNulty’s take on leadership & implementation (02:06)

Why accountability & implementation plans are a must (08:24)

Tracking implementation plan performance (13:28)

Consulting vs. Fractional Training Officer (19:26)

Measuring ROI & getting external help for implementation (21:02)

Final thoughts & lighting round Q&A (26:03)

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Connect with Brenda:

Facebook

Instagram

DSO Facts Website

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Learn proven dental marketing strategies and online reputation management techniques at DrLenTau.com.

This podcast is sponsored by Dental Intelligence. Learn more here.

This podcast is sponsored by The Doc Sites, the leading provider of websites and online marketing for dentists. Find out more here.

Raving Patients Podcast is your go-to place for the latest and best dental marketing strategies that will help you skyrocket your practice. Follow us for more!

Next Episode

Smile, Save, Succeed: The $4.5 Million Retirement Hack You’ve Never Heard Of

Wondering how much you really need to save to retire comfortably? Or how to best manage 401K plans for your employees? This episode has the answers.

I’m joined by Kelly Richards, a partner advisor at Allworth Financial, who has nearly two decades of experience helping dentists transition from big spenders to big savers through strategic financial planning.

We dive into the importance of maximizing your 401(k) with profit sharing and how Allworth Financial’s low-cost platform can significantly boost your retirement savings.

Kelly also breaks down why ETFs are superior to mutual funds and explains the dangers of trying to time the market, which can cost you big time.

From defining your "retirement number" to why you should only hire fiduciary advisors, this episode will put you on the right track to make smarter financial decisions.

Tune in now to learn how you can secure your future and grow your wealth.

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Key Takeaways:

Introduction (00:00) Kelly Richard’s experience at Supercharge Your Dental Practice (00:46) Kelly’s background & how he helps dental practices (04:09) 401K profit sharing & cash balance plans (06:46) Mutual funds vs. exchange traded funds (14:55) Finding your retirement “number” & timing the market (17:56) Final thoughts & lighting round Q&A (22:54)

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Connect with Allworth Financial:

Website: https://allworthfinancial.com/ Email: [email protected]

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Learn proven dental marketing strategies and online reputation management techniques at DrLenTau.com.

This podcast is sponsored by Dental Intelligence. Learn more here.

This podcast is sponsored by The Doc Sites, the leading provider of websites and online marketing for dentists. Find out more here.

Raving Patients Podcast is your go-to place for the latest and best dental marketing strategies that will help you skyrocket your practice. Follow us for more!