September 4, 2010

About Us

Physicians’ Financial Care is a comprehensive private banking service offering customized financial solutions for doctors — from residency to retirement. Our mission is to help physicians maximize the value of their medical degree with personal and business financial solutions that help them manage their careers as businesses and achieve financial security.

The current environment for practicing medicine, more than ever, requires physicians to manage their careers as businesses. Yet most doctors have little, if any, business and financial training. Staying power and financial security depend on your ability to operate your practice as a business, make prudent investments, and provide for personal financial commitments such as education costs and retirement.

What sets Physicians’ Financial Care apart from other financial-service providers is its ability to combine money-center bank sophistication, in the delivery of financial products and services, with the accessibility and personal attention offered by community banks, such as Barrington Bank & Trust and Village Bank & Trust. The banks' parent company, Wintrust Financial Corporation, is affiliated with The Wayne Hummer Companies, which provides brokerage, trust and investment management services for bank customers and for Physicians’ Financial Care clients. Through this collaboration Physicians’ Financial Care helps individual physicians and their medical practices succeed in the highly competitive and regulated health care environment.

Community awareness and involvement can help build or grow a physician’s practice.  The Physicians’ Financial Care team offers the right path for doctors who see the benefits of community banking for exposure, networking and patient referrals.  Another benefit is one-stop access to community resources, such as medical practice and business consultants, accountants, attorneys, insurance carriers and information technology specialists. 

Physicians' Financial Care's services are customized to meet the needs of physicians at all career levels.  

  • Younger doctors usually leave residency burdened with heavy student loan debt.  They can benefit from comprehensive wealth planning, even at the beginning of their careers.  
  • Mid-career doctors face the same challenges as other professionals in handling the highest expense pressures of their lives.  Yet physicians might be at a disadvantage in meeting mid-life financial demands because of delayed entry into the workforce. 
  • Doctors nearing retirement age may or may not want to continue practicing, but can benefit from planning for either outcome. 

Enjoy the practice of medicine, your family and personal interests instead of worrying about money.  Consider joining the first private banking group dedicated to physicians – Physicians’ Financial Care.

Community Banking and Physicians’ Financial Care

Community awareness and involvement can help build or grow a physician’s practice.  Physicians’ Financial Care’s community approach offers the right path for doctors who see the benefits of community banking for exposure, networking and patient referrals.  Another benefit is one-stop access to community resources, such as medical practice and business consultants, accountants, attorneys, insurance carriers and information technology specialists. 

Barrington Bank & Trust and Village Bank & Trust are your resource for comprehensive financial services provided by Physicians’ Financial Care. They include:

  • Personal financial plans
  • Structured life insurance strategies
  • Checking, savings and other liquidity management accounts
  • Internet banking
  • Lockbox and other account receivable collection systems
  • Short and long term loans
  • Tax planning
  • Practice management strategies
  • Securities brokerage and investment portfolio management
  • Financial planning services managed by Wintrust’s Wayne Hummer subsidiary.

Early Career Practitioners:  Finding the Right Path through Wealth Planning 

Physicians' Financial Care offers customized services to meet the needs of physicians at all career levels – from those in practice less than five years to doctors contemplating retirement.  

Younger doctors usually leave residency burdened with heavy student loan debt.  They must become informed and prudent investors, save as much as possible in tax-advantaged instruments, and plan early for their children’s college costs.  The community bank can be a valued business partner through lending and cash-management services, as well as with help in finding accountants, bookkeepers, information-systems experts and other support-services providers.  It will be comforting to know, as an early-career physician, that you have community-based resources and personalized service from bankers who know your situation and have a plan to help you grow your practice and personal wealth.

When beginning a medical practice, typical long-term financing needs include:

  • Debt service on medical school tuition and fees
  • Equipment purchases for computers, imaging systems and other medical  devices
  • Real estate acquisition

Also, it isn’t too early at this stage to begin lifetime wealth planning.  Physicians’ Financial Care offers a wide variety of products and services to help young practitioners:

  • Financial planning
  • Medical school loan consolidation
  • Auto loans
  • Credit cards
  • First home mortgages
  • Checking and savings accounts
  • Education savings accounts
  • Investments planned for risk tolerance and goals

Mid Career Practitioners:  Staying on Course through Wealth Accumulation

Mid-career doctors face the same challenges as other professionals in handling the highest expense pressures of their lives.  Yet physicians might be at a disadvantage in meeting mid-life financial demands because of delayed entry into the workforce.  Most corporate executives, by contrast, have been on the job before the age of 25, enjoying an eight-to-ten year head start making money and retiring student-loan debt.  Doctors are challenged to pay down debt while making up for the earning-time gap.  They need expert financial advice to avoid a major shortfall at retirement.

Working with Physicians’ Financial Care, mid-career doctors can develop detailed retirement cash-flow plans, formulate strategies to maximize after-tax returns on their investments and monitor their progress.  Services designed for mid career physicians include:

  • Financial plan review and updating
  • Home equity lines of credit for reducing the cost of other debt or funding investment strategies
  • Investment management, including structured life insurance solutions
  • Business cash management solutions, such as online banking, merchant processing and remote deposit capture
  • Accounts receivable and other working capital financing, including malpractice insurance premium financing
  • Equipment loans for information and management systems and medical imaging devices
  • Practice expansion financing 

Late Career Practitioners:  Wealth Preservation

Doctors nearing retirement age may or may not want to continue practicing, but can benefit from planning for either outcome.  They prefer to have a firm grasp of the financial and tax implications of winding down their careers, as well as estate planning and allocating sufficient resources to enjoy a comfortable income in retirement.  Making reliable assumptions about the future is a key attribute of a quality long-term plan. 

Working with Physicians’ Financial Care, late-career doctors will make the necessary adjustments to follow the right course toward wealth preservation based on their personal and business financial goals.  Services designed for late-career physicians include:

  • Financial plan review and adjustment
  • Estate planning
  • Trust services
  • Investment management, including structured life insurance strategies
  • Financing sale of the practice