Creating a Successful Business - Working with a Business Owner
Client Persona

Dr. Smith has a successful medical practice in which his time and focus is on his patients and mastering his respective discipline. He has a CPA and HR company that are doing his payroll and taxes, but they don’t talk to each other. With his focus on his patients, the company has no effective tax plan, no employee retention program, no cohesive investment strategy, and limited creditor protection and asset protection. Additionally, he has no succession plan and no estate plan in place for retirement or in case of his death.

Main Goal

Help Dr. Smith develop strategies to better manage and protect the business, maximize owner deferrals, and minimize taxes.


  • Employee Benefits 
  • Estate & Succession  
  • Tax Strategy  
  • Asset Management 
  • Cash Management

Conclusion and Outcome

It has been invaluable to shine a light on the deficiencies in the practice by implementing a program that is empirically tested and science-driven. We worked with both the CPA and the payroll company to coordinate benefits. We implemented a cohesive employee benefit program that favors the principals of the company. There is now peace of mind knowing that Dr. Smith has prepared for the next chapter. Monetarily, his assets are working as hard as he is, and he has minimized his tax burden. Finally, his employee turnover has reduced as he has benefits in place to incentivize their contribution to the success of the practice.

*This is a hypothetical client example in a financial planning situation that may be proposed in this scenario.

Want to Know More?

Do you need help like Dr. Smith? Let BayView put your mind at ease! Contact us today to find out how we can help you.

Destin Office
Main: 850-990-0618
Conf: 850-297-1837
Fax: 850-852-0131
1234 Airport Road, Suite 121 Destin, FL 32541
St. Petersburg Office
Main: 727-369-6151
Text: 727-496-4963
200 Central Ave, 4th Floor, St. Petersburg, FL 33701

All investing involves risk, including loss of principal. There is no guarantee the investment process will lead to profits. Past performance of any security or strategy is no guarantee or indication of future results or performance. Market conditions change continuously.

Advisory services offered by Investment Advisory Representatives of RFG Advisory, LLC  (“RFG Advisory” or “RFG”), a registered investment advisor. BayView Private Wealth and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

RFG Advisory is an SEC-registered investment adviser. SEC registration does not constitute an endorsement of RFG by the Commission, nor does it indicate that RFG or any associated investment advisory representative has attained a particular level of skill or ability.

RFG Advisory Part 3, Form CRS, RFG Advisory Form ADV, Part 2A, Investment Advisor Public Disclosure, RFG Advisory Privacy Policy.

Insurance products and services are offered through several insurance providers, including RFG Solutions LLC, an affiliated company of RFG Advisory.

© Copyright BayView Private Wealth 2023. All right reserved.