UA-170695639-1 Financial Advice for Veterinary Medicine Students - The Veterinarian Success Podcast

Episode 30

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Published on:

1st Mar 2020

#30 Andrew Rotz, CFP®, CCFC - Serving Students at NC State by Providing Financial Education

In this episode, I'm joined by Andrew Rotz, CFP®, CCFC, as he shares his experience serving the future veterinarians from his position within NC State. The unique aspect of this interview is Andrew's experience and insights from thousands of conversations and countless hours spent with future DVM's talking about all things related to their financial life. He also has a unique perspective coming at the financial discussion from an angle of pure education as he is employed by NC State. We discuss the following in this interview.

  • Finding Balance in family, country, and work to excel at all and not sacrifice one for the others.
  • The elephant in the room is student loans, but budgeting and insurance are so critical as well to the early success.
  • What he hears from those in school about the desire for ownership opportunities in the future.
  • The desires of current and future veterinarians for employment that fits within the lifestyle goals they have.
  • Understanding the changing landscape of the industry and why the universities preparing the students evolved and the costs associated with that change.
  • His role on staff at NC State and is a CERTIFIED FINANCIAL PLANNER TM
  • What he is seeing from employment contracts in the industry as 4th-year students accept and review initial job offers.
  • The hidden benefits of various offers and what is most beneficial vs. a nice to have.
  • He discusses how much negotiation flexibility he is seeing from offers and what areas are more negotiable vs. those areas that are not.
  • His opinion on the financial services industry which is unique given his knowledge, experience, and lack of a conflict since he’s employed by NC State.
  • The need for Fee-Only and truly fiduciary aka “best interests of the client” in today’s world of financial advice.
  • Why student loan planning and advice is sorely lacking with most CFP®’s today and his desire to see that changed.
  • The one-piece of financial advice he wished everyone understood better.
  • He opens up and shares a personal financial story of a big lesson learned and how that humbled him in a way that wasn’t easy at the time.


Website: https://cvm.ncsu.edu/education/academic-affairs/financial-services/


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About the Podcast

The Veterinarian Success Podcast
Welcome to the Veterinarian Success Podcast where you go in-depth with a veterinarian specific financial planner Isaiah Douglass, MBA, CFP® to hear stories, opinions, and leading information about the world of veterinarian medicine from industry professionals. The podcast covers topics relating to the clinical, business, financial, and personal side of to help encourage, promote, and advocate for a healthy and happy standard of care for veterinarians, their families, their staff, and their businesses.

About your hosts

Isaiah Douglass, MBA, CFP®, CEPA

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I am a CERTIFIED FINANCIAL PLANNER™ and a Fee-Only advisor. I left a large national firm to found a solo financial planning firm in 2018 to pursue a planning approach dedicated to identifying ways to grow the net worth of veterinarians and dentists. In the summer of 2020, I merged with another financial advisor and became a partner in Vincere Wealth Management.

To check out Vincere Wealth Management ➡ www.vincerewealth.com

Provide

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Lendeavor is now Provide. We're the modern practice finance company, innovating for dentists, veterinarians, and other healthcare professionals like you. Today, more than ever — as our country perseveres through a global pandemic — we recognize the importance of healthcare providers. We call ourselves "Provide" in tribute to you.