Financial Planning for Young Veterinarians

How to make sure a financial advisor is the right one for you.

Early in your career, you may feel you have so little disposable income that you should put off financial planning. In fact, the opposite is closer to the truth: Paying down debt and managing your income during the early years is when having a strategy can make a real difference.

If you’ve been struggling with your finances, know that you’re not alone. A 2016 survey by AMA Insurance found that nearly 40% of physicians said they were behind in their financial goals.[1] The good news is that you can get back on track with the help of a financial advisor.

According to the survey, 67% of doctors who used a financial advisor said they were ahead of their financial goals. Only 44% of those without an advisor were comfortable with their financial planning. But how do you know if that advisor is right for you?

“You should feel comfortable with your financial advisor, but most importantly know you can trust them because you are relying on them to do the right thing with your hard-earned money,” says PNC Wealth Director Lori Craig. Beyond comfort, however, are the essentials.

Shop around. Free consultations are an excellent way to assess a financial planner’s initial advice, demeanor and the level of detail he or she is willing to share to win your business. Ask for a prospectus and an itemized list of fees.

Request credentials. Financial advisors, like veterinarians, need to have licenses and official documentation. Look for a Registered Investment Advisor (RIA) or Certified Financial Planner™ (CFP®). These qualified individuals need to pass certification exams, and ethics and background checks. You can also crosscheck credentials with regulatory sites such as the Financial Industry Regulatory Authority (

Accept no guarantees. The biggest red flag is a guarantee of a specific investment return.

Ask people you trust. Word of mouth matters. Friends, colleagues and family can be excellent resources for financial planner recommendations.

Make sure the planner is invested in you. Does the planner ask about your health? Family plans? Life insurance coverage? Your planner should be invested in your total financial health — which means more than simply handing you a huge folder of marketing materials.

Create a review process on your terms. Once you work with a planner, decide whether you will meet quarterly or semiannually. Make sure that your questions are always being answered and that you fully understand portfolio decisions.

Go to to learn more.

Get More Solutions for Healthcare, Dental & Veterinary Professionals 

Contact Us » »

Start Your Cash Flow Conversation
Give us a call at 1-855-762-2365 or fill out our simple form and a PNC Business Banking representative will get in touch with you.
Request a Contact »

Important Legal Disclosures and Information

1. AMA Insurance, 2016

Business Insights for Veterinary Professionals are prepared for general information purposes only by Manifest LLC and are not intended as legal, tax or accounting advice or as recommendations to engage in any specific transaction, including with respect to any securities of PNC, and do not purport to be comprehensive. Under no circumstances should any information contained in the articles be used or considered as an offer or a commitment, or a solicitation of an offer or a commitment, to participate in any particular transaction or strategy. Any reliance upon any such information is solely and exclusively at your own risk. Please consult your own counsel, accountant or other advisor regarding your specific situation.

Neither PNC Bank nor any other subsidiary of The PNC Financial Services Group, Inc. will be responsible for any consequences of reliance upon any opinion or statement contained here, or any omission. The opinions expressed in these articles are not necessarily the opinions of PNC Bank or any of its affiliates, directors, officers or employees.

Lending and leasing products and services, including card services and merchant services, as well as certain other banking products and services, may require credit approval.

The PNC Financial Services Group, Inc. (“PNC”) uses the marketing name PNC Private BankSM to provide investment and wealth management, fiduciary services, FDIC-insured banking products and services, and lending of funds through its subsidiary, PNC Bank, National Association (“PNC Bank”), which is a Member FDIC, and to provide specific fiduciary and agency services through its subsidiary, PNC Delaware Trust Company or PNC Ohio Trust Company. Securities products, brokerage services, and managed account advisory services are offered by PNC Investments LLC, a registered brokerdealer and a registered investment adviser and member of FINRA and SIPC. Insurance products may be provided through PNC Insurance Services, LLC, a licensed insurance agency affiliate of PNC, or through licensed insurance agencies that are not affiliated with PNC; in either case a licensed insurance affiliate may receive compensation if you choose to purchase insurance through these programs. A decision to purchase insurance will not affect the cost or availability of other products or services from PNC or its affiliates. PNC does not provide legal, tax, or accounting advice unless, with respect to tax advice, PNC Bank has entered into a written tax services agreement. PNC does not provide services in any jurisdiction in which it is not authorized to conduct business. PNC Bank is not registered as a municipal advisor under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Act”).

“PNC Private Bank” is a service mark of The PNC Financial Services Group, Inc

Investments: Not FDIC Insured. No Bank Guarantee. May Lose Value.

Insurance: Not FDIC Insured. No Bank or Federal Government Guarantee. Not a Deposit. May Lose Value. Bank deposit, treasury management and lending products and services, and investment and wealth management and fiduciary services, are provided by PNC Bank, National Association. Member FDIC.

Banking products and services and bank deposit products are provided by PNC Bank, National Association, a wholly-owned subsidiary of The PNC Financial Services Group, Inc. and Member FDIC.

Read a summary of privacy rights for California residents which outlines the types of information we collect, and how and why we use that information.