Fees

Veterinarians

Associate, Emergency, Relief, and Specialty Veterinarians

Ongoing Financial Planning

Associate, Emergency, Relief, and Specialty Veterinarians

Fees

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Clients of VetWorth also have access to tax preparation services available through XY Tax Solutions, a nationwide virtual CPA firm which partners only with independent financial planning firms. This service is optional and charged separately from VetWorth.
Pricing Examples:

Example 1:

Julie completed her residency last year and is currently employed as an internal medicine specialist making $175,000/year. Julie still has high student debt and a net worth below $100,000. Julie is primarily looking for guidance on student loan repayment, allocating savings, properly insuring her income and assets, and establishing a strong financial foundation. Julie's fee would most likely be our firm minimum of $3,000/year ($250/month).

Example 2: 

Mark and Katie are married with 2 kids. Mark is a consultant and Katie is an emergency vet making a combined $325,000. They have saved well, reduced debt, and accumulated a net worth of $750,000. They are primarily looking for guidance with college planning, preparing for retirement, investment management, and tax reduction strategies. Their annual fee would be around $6,900 ($575/month).

Example 3:

Ryan is a self-employed contractor and Anna is a self-employed relief vet. They have combined income of $225,000 and a net worth of $400,000. As they are self-employed, their primary needs consist of solidifying cash reserves, navigating life/health/disability insurance needs, establishing retirement plans, and calculating/paying estimated taxes. They may also need assistance with business valuations and filing multiple state tax returns. Based on increased complexity, their annual fee would be around $5,250/year ($354/month).

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    Ongoing Financial Planning covers each of the following topics addressed during the onboarding year:

    • Cash Flow Optimization, including a student loan analysis with a CERTIFIED Student Loan Professional™. 
    • Savings strategy, including opening and funding retirement plans for self-employed relief vets (SEP, SIMPLE, Solo 401k)
    • Complete Tax Planning Review including income tax and estimated payments projections
    • Proactive Estate Planning
    • College Planning Analysis
    • Insurance Review (personal & business)
    • Investment Strategy & Portfolio Analysis
    • Goals Visualization

    Following the onboarding year, our ongoing planning relationship will consist of a minimum of 3 meetings to address timely areas of concern and proactively plan ahead.

    With our open door policy, you can feel comfortable reaching out with any questions you have about your money. We’re here to help!

    Fees

    VetWorth works with clients on a fixed-fee basis, providing straightforward and transparent fees that are paid monthly or quarterly. Fees shown below are based on typical client situations. Additional complexities as described below may result in higher fees.

    Net Worth < $1,000,000

    Individuals: $750 upfront with ongoing fees ranging from $3,300-$3,900 per year ($275-$325 per month)

    Couples: $950 upfront with ongoing fees ranging from $3,900-$4,500 per year ($325-$375 per month)

    Net Worth > $1,000,000

    Individuals: $950 upfront with ongoing fees ranging from $4,500-$5,700 per year ($375-$475 per month)

    Couples: $950 upfront with ongoing fees ranging from $5,700- $6,900 per year ($475-$575 per month)

    *Additional complexities including but not limited to multiple business interests/ownership, rental properties, multiple real estate holdings, significant taxable holdings may result in a higher annual fee. Fees will always be agreed upon before entering into a relationship with VetWorth

    **In most cases, a 3% cost of living adjustment will be applied every 12 months

    Ready to Get Started?

    Schedule a Call!
    Are you a veterinarian considering independent practice ownership? At FivePoints, we specialize in helping veterinarians on their path toward becoming a practice owner (and current practice owners!).

    When you work with us, you can expect a collaborative relationship where we'll work together to prepare and organize your personal finances, develop your vision and business plans, and assemble your support team to set you up for success!

    You are passionate about providing the best care possible for your patients, and could not imagine working in another profession. But between being burdened by student loans, high debt-to-income ratios, and burnout, you wonder what the future holds for you in veterinary medicine.

    You may be asking yourself:

  • Is practice ownership something I should consider?
  • Am I able to become a practice owner with high student loan debt?
  • How do I even begin the process of purchasing or starting a practice?
  • Should I sacrifice savings today to pay down student loans?
  • Who can I trust to join me on my financial journey?

    At FivePoints, our specialization in working with veterinarians provides us with unique insights into the veterinary profession and equips us with the resources necessary to deliver expert advice customized to your individual circumstances. We welcome you to schedule an Introductory Call to see how we can work together to help you succeed.

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    Services

    Associate, Emergency, Relief, and Specialty Veterinarians

  • Lifestyle Cash Flow Management
  • Student Loan Planning
  • Goals Visualization
  • Coordinated Investment Advice
  • Skillful Tax Planning
  • Retirement/College/Savings Planning
  • Risk Management (Life, Disabiity, Liability)
  • Proactive Estate Planning
  • Open-Door Policy

    • If you are exploring practice ownership, we'll also provide:

  • Assistance in preparing financial statements requested by lenders
  • Advice on how debt may impact your purchase/start-up decision
  • Insight into evaluating lenders and what documents/information they need
  • Guidance with developing your vision and business plan, and knowing your 'why'
  • Collaboration with assembling your support team on the path to success!

    • Veterinary Practice Owners/Managers

    In addition to the services listed above, we provide the following advice for practice owners/managers:

  • Setting up retirement plans and exploring employee benefits to improve retention
  • Ensuring proper business insurance policies are in place and adequately covered
  • Organizing your accounting procedures
  • Improving your work/life balance
  • Increasing practice efficiencies
  • Operating a more profitable practice

    • What can you expect when working with FivePoints?

    Our collaborative and modular approach to financial planning allows for more productive meetings without feeling overwhelmed. During the initial year, you can expect 4-6 meetings focused on particular areas of your finances and goals. Once your financial foundation has been established, subsequent years consist of 3-4 meetings where we will review and adjust as necessary, but still maintaining our open-door policy and communications.

    Fees

    Our fees are calculated based on a combination of income, marketable net worth, and complexity. We operate on a fixed-fee annual retainer basis, payable either monthly or quarterly. The minimum annual fee is $3,000 for non-owner veterinarians, and $5,000 for practice owners, with an initial engagement fee of $750.

    Have a Question?

    You can contact us with any questions you have or help that you may need.

    Contact FivePoints