Michael Brady & Co. LLC

Financial Planning Built for the Complexity of Medical Careers

As a physician or healthcare professional in Cleveland, you've dedicated years to mastering your craft. You face unique financial challenges that most advisors don't understand: complex compensation structures, deferred comp plans, equity arrangements, and the pressures of balancing a demanding career with family and financial goals.

At Michael Brady & Co., we specialize in helping Cleveland-area health professionals navigate these complexities and build lasting wealth.

The Unique Financial Challenges You’re Facing

Late Start to Wealth Building

While your peers were building wealth in their 20s, you were in medical school and residency, accumulating student debt. Now you're playing catch-up, trying to save for retirement while managing high expenses and lifestyle inflation.

Complex Compensation Structures

Your compensation likely includes base salary, production bonuses, equity shares, call pay, deferred compensation, and potentially profit-sharing. Understanding how these pieces work together and optimizing each one requires specialized expertise.

High Income, High Taxes

You're in one of the highest tax brackets, which means a significant portion of every dollar you earn goes to taxes. Without proper planning, you could easily pay hundreds of thousands more in taxes than necessary over your career.

Professional Liability & Asset Protection

As a physician, you face liability risks that require careful asset protection strategies to safeguard the wealth you've worked so hard to build.Time Constraints

Time Constraints

Between patient care, administrative duties, and family commitments, you have little time to manage your finances. You need a trusted advisor who can handle the complexity while keeping you informed.

Our Approach to Physician Wealth Management

1. Comprehensive Financial Planning

We start by understanding your complete picture:

Current income and all compensation sources
Existing retirement accounts and investments
Student loan balances and repayment strategies
Insurance coverage (disability, life, malpractice, umbrella)
Estate planning and asset protection needs
Short and long-term financial goals

2. Tax-Efficient Wealth Building

As a high-income earner, tax planning is critical. We help you:

Maximize tax-deferred retirement contributions
Utilize backdoor Roth IRA strategies
Implement tax-loss harvesting in taxable accounts
Evaluate deferred compensation plans
Structure investments for tax efficiency
Plan for future practice transitions or sales
Asset Location Strategy

3. Debt Management Strategy

We help you navigate student loan repayment while building wealth:

Evaluate refinancing vs. income-driven repayment options
Balance aggressive debt payoff with retirement savings
Maximize employer loan repayment benefits
Consider PSLF (Public Service Loan Forgiveness) if applicable

4. Practice Transition Planning

Whether you're joining a practice, buying into equity, or planning your exit:

Evaluate buy-in offers and partnership agreements
Structure equity positions for optimal tax treatment
Plan for practice transitions or sales
Coordinate practice succession with retirement planning

5. Insurance & Risk Management

Protect your ability to earn and your accumulated wealth:

Disability insurance (own-occupation coverage)
Life insurance for income replacement
Umbrella liability coverage
Professional liability considerations
Long-term care planning

6. Investment Management

We build globally diversified portfolios designed to:

Grow wealth efficiently over your career
Minimize unnecessary risk and volatility
Reduce investment costs and taxes
Align with your retirement timeline and goals

Questions We Help Physicians Answer

When can I realistically retire?

We'll project your retirement readiness and show you exactly what it will take to retire on your timeline.

Should I buy into my practice's equity?

We'll evaluate the financial terms and help you determine if it makes sense for your situation.

How should I handle my deferred compensation plan?

We'll analyze the risks and benefits and integrate it into your overall retirement strategy.

What should I do about my student loans?

We'll help you develop a strategy that balances debt repayment with wealth building.

Am I protected if I can't work?

We'll review your disability coverage and ensure you have own-occupation protection.

How do I minimize taxes on my high income?

We'll implement strategies to reduce your current and future tax burden.

Who We Serve

Residents & Fellows

Transitioning to attending positions

Early-Career Physicians

Building their financial foundation

Mid-Career Physicians

Maximizing wealth accumulation

Senior Physicians

Planning practice transitions and retirement

Retired Physicians

Managing retirement income and legacy planning

Cleveland-Area Healthcare Systems We Serve

We have extensive experience working with physicians from:

University Hospitals
Private practices throughout Northeast Ohio

& The Cleveland Clinic Foundation

Ready to Take Control of Your Financial Future?

Let's discuss how our specialized wealth management services can help you navigate the unique financial challenges physicians face.