Finding the Best Advisor for You

Author: Manfred Purtzki

Finding the Best Advisor for You

How much tax you pay and how much money you can retire on depends, to a large degree, on your accountant and financial planner. You need top-notch advisors who are proactive in suggesting new ideas in managing your dental practice and your personal finances.

You also need to find advisors who understand the business aspects of the dental profession and the unique issues you face.

The benefit of hiring advisors with expertise relating to your profession ensures that you not only get the best advice, but also prompt service. The experienced advisor most likely has many other dentists as clients, so they are therefore keen to maintain their reputation.

Insist on the organ grinder.

When you engage an accountant or any advisor, find out upfront how accessible they are going to be. Demand explicit commitment as to the level of personal service you can expect from them. Maybe you don’t mind that the accounting work is handled by the staff, but you want face-to-face meetings and easy access to your key advisor.

Avoid “conservative” advisors.

When I meet people who ask me what I do for a living, they often make a comment that “their accountant is pretty conservative and keeps them out of trouble with the tax department”.

What these people are really saying is that their accountant is reluctant to embrace new ideas. These accountants are inflicted by rigor mortis regarding tax planning strategies, resulting in the client paying more tax than necessary. Just because you have not been audited by the tax department, doesn’t mean that your accountant gets a seal of quality.

On closer examination, maybe it is a sign that the government owes you money. Remember that your advisors, in particular accountants, are not risk takers. Don’t let it surprise you when your accountant habitually puts a kibosh on any proposal you bring to their attention. Accountants do not get sued by saying “no” to anything which crosses their desk.

You can no longer afford this type of conservative advisor. You need an accountant with an entrepreneurial bent who can give you proactive advice. One who is not afraid to explore the grey areas in the income tax laws, and who goes to bat for you in case you are challenged by the tax department.


Take the time to research advisors that specialize in your field. The best outcome is to find an advisor to manage your dental practice and personal finances. An experienced advisor will be able to understand the business aspects of the dental profession, and the unique issues you face. This will ensure that you get the absolute best advice and prompt, proactive service.

Find out more about the services we provide, including Dental Coaching and Practice Valuations, by contacting us today.

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