162 | How and When to Find a Financial Planner You Can Trust: Interview with Caleb Pepperday, CFP®, ChFC®

In this episode, I sit down with Caleb Pepperday, CFP®, ChFC®, fee-only fiduciary financial planner and founder of Advanced Practice Planning, to discuss financial planning for physician associates and other healthcare professionals. Caleb shares what drew him to work with PAs and other APPs, and how his dual designations as a Certified Financial Planner and Chartered Financial Consultant give him a unique perspective when guiding clients toward financial independence. He also breaks down the confusing landscape of financial credentials and explains why not all financial advisors are created equal.

Caleb helps demystify what PAs should look for in a trustworthy planner. He explains what it really means to be a fiduciary, the red flags to watch for in the industry, and the key questions to ask when interviewing a potential advisor.

Caleb also walks us through the different ways financial professionals get paid (commission-based, assets under management / AUM, and flat-fee models) and highlights the pros and cons of each. For those wondering when it makes sense to manage your own money versus bringing in professional help, Caleb provides a balanced perspective tailored to busy healthcare professionals who want to build wealth without burning themselves out along the way. 

Finally, we dive into a case study featuring a mid-career PA and NP couple with a strong income and growing portfolio, but with gaps in areas like tax diversification, estate planning, college funding, and insurance. Caleb outlines practical next steps to help them stay on track toward their goal of retiring at 55 while protecting their family along the way.

Disclosures:

Information presented in this podcast is believed to be factual and up-to-date, but no guarantee is made to its accuracy and it should not be regarded as a complete analysis of the subjects discussed. Discussions and answers to questions do not involve the rendering of personalized investment advice, but are limited to the dissemination of general information. A professional advisor should be consulted before implementing any of the subjects presented.

 Advisory services offered through Advanced Practice Planning, LLC an investment adviser registered with the states of Montana and Pennsylvania. For disclosure information please visit: https://adviserinfo.sec.gov/

Tax and Legal Matters

The tax and estate planning information offered by the advisor is general in nature. It is provided for informational purposes only and should not be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

General Market Commentary Statements

The opinions expressed in any commentary discussed on this episode are solely those of the individual author and do not necessarily reflect the views or opinions of Advanced Practice Planning, LLC. These opinions are based on information available at the time of posting and are subject to change without notice. Advanced Practice Planning, LLC does not commit to updating any posted positions or commentary to reflect subsequent developments. While the information and reasoning used to form these opinions are believed to be from reliable sources, Advanced Practice Planning, LLC does not verify this information, and no guarantee is provided regarding its accuracy, completeness, or validity. Advanced Practice Planning, LLC disclaims any and all liability for actions taken or not taken based on the content of this site. No warranty, express or implied, is given in connection with the content provided.

Learn More or Connect with Caleb: 

Links:

Website link: https://www.advancedpracticeplanning.com/

Consultation link: https://calendly.com/caleb-pepperday/30min

Freebies:

12 Smart Steps Every PA Wanting to Retire Early Should Know:

https://www.advancedpracticeplanning.com/earlyretirement

18 Things You Can Do Today To Level Up Your Finances:

https://www.advancedpracticeplanning.com/tipsforphysicianassistants

8 Things PAs Need To Know Before Taking A Sabbatical:

https://www.advancedpracticeplanning.com/sabbatical

Social Media:

LinkedIn: https://www.linkedin.com/in/caleb-pepperday/

Instagram: https://www.instagram.com/calebpepperday_cfp/

Connect with Kat, PA-C, with PA the FI Way: 

Are you just beginning your journey to financial independence and want to learn more? Download your free copy of the PA the FI Way Beginner’s Workbook here!

Website / Blog: pathefiway.com

Follow PA the FI Way on Instagram: @pathefiway https://www.instagram.com/pathefiway/

Connect with Kat on LinkedIn: https://www.linkedin.com/in/katarina-kat-astrup-mspas-pa-c-175848255/

Join the private Facebook group created for current and future PAs on their journey to financial independence: https://www.facebook.com/groups/pathefiway

Like the Facebook page to follow along for updates: https://www.facebook.com/pathefiway

Questions or thoughts about the show? Email [email protected]