I found a very interesting article on the Web site of American Medical News, published by the American Medical Association, that explains why some practitioners are so much better at building a niche than others. The article, "Medical Societies Roll Out Financial Planning Services," at www.ama-assn.org/sci-pubs/amnews/pick_03/bisb0721.htm, indicates that a number of state medical associations have formed alliances with financial planning firms to help their members find financial advice. The idea is for the state society to do the due diligence to make sure its members will get sound advice.
For example, it is reported that the Wisconsin Medical Society partnered with SVA Planners, a Midwest-based CPA firm, to provide financial planning services to its members. The physicians don't get a discount on services, but the firm was reportedly picked because it has "specialized over their history to primarily work with physicians."
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