Here are some compelling business reasons to work with doctor clients:
- According to the US Bureau of Labor Statistics, 10 out of 10 of the top earners in the US call themselves “Doctor”
- There are 1,000,000 practicing physicians and 200,000 practicing dentists in the US
- We will always need doctors
- Doctors are loyal clients.
- Doctors gossip like teenage girls, and they will pass your name around
- Doctors are experiencing financial pain, and they need your help translating their high incomes into wealth
- Half of the doctors are behind in retirement planning
- Half of the doctors are working with professional financial advisors
- 42% of doctors reported being burned out in 2019 and in 2020.
Sounds great, right? Before you jump in, here are some other truths to consider:
- The barrier to entry in the medical market is very high. We help financial advisors lower the barrier to entry so that you now have a competitive advantage.
- The sales funnel can be long. A doctor you meet today may not become your client for 6 to 12 months. However, once you fill the sales funnel and regularly inspire doctors to enter it, you can enjoy a steady stream of new prospects.
- The same qualities that you want in your own doctor also contribute to a doctor being a less-than-ideal client. If a patient comes into the ER, the doctor may cancel the appointment with the financial advisor at the last minute. This is good if you’re the patient and not so good if you’re the financial advisor.
- Some people don’t enjoy doctors’ temperaments.
Why is it so hard to engage doctors?
Many financial advisors arrive at Engaging Doctors with the story that they made an investment in the medical market, and it just didn’t work for them. They tell a story about why. Doctors are too busy. Doctors are too distracted. You just can’t get doctors to take action.
The problem is that they have not identified the missing piece. Without that insight, they will continue to struggle.
That’s where we come in. We help financial advisors achieve cultural competency so they look and feel like someone who belongs in the medical market.
The truth is that doctors need your help.
Our mission is to alleviate the financial pain and suffering in the medical community—one doctor at a time. You could be their change agent.