The following Q&A was completed as part of our conversational Commercial Real Estate FAQ Interview Series, we hope you find it helpful.
When it comes to doctors and dentists as high net worth investors, you’re working with a unique subset of people. These individuals often run multi-million dollar practices and businesses, and despite this have a lack of knowledge when it comes to accumulating real wealth. Typically eager learners with a lot of heart, they take to their investment education naturally to continue to grow their net worth.
Richard Wilson: What makes doctor and dentist high net worth investors unique from other private investors?
Dr. Forrest Bryant: Yeah, great question. One thing I guess that makes them different it may be, you know, a lot of them have high net worths and really a really big gap in understanding of basic finances I think is one big one. You know, most of our medical and dental clients run multi-million dollar businesses and they didn’t go to medical school, I’m sorry, they didn’t go to business school, I mean they don’t have finance or economics degrees and they’re running these multi-million dollar practices and businesses and they know what they’re doing but they’ve just been raised to give millions of dollars to financial advisors and let them manage it and they just – the fees, the mutual funds, the ETFs, and just the managed portfolios are just really don’t allow them to really get wealthy. Taking them from that standpoint where they come in an they have a good business, they have a 401k, and they have a house, and trying to help them get wealthy with that, that formula just really don’t work. So, we really have to go through this education process and show them the family office model about investing and other operating businesses investing in to real estate and commercial real estate in order to educate them to the process. But other than that, you know, I think our doctors and dentists are some of the greatest people in the world just because they have big hearts, I mean most of them got into medicine or dentistry because they love people, and they want to help, and they’re healers. We did mention at the beginning but that’s my background coming out of practicing dentistry for almost 20 years. So we really get them, and that’s our unfair advantage, and working with them we’re not slick wall street guys that are trying to, you know, tell them what to do. We’ve walked the walk and we’re here to find the line with them to help them achieve their goals.
Richard: Right, great.
