Question 1

What is the minimum to work with Avance?

Accepted Answer

Our full wealth management relationships typically begin at $1 million in investable assets. If you're approaching that threshold or have a liquidity event on the horizon, we're glad to talk. For those below that level, our flat fee Avance Advisory engagements offer structured, independent planning without an investment management requirement.

Question 2

How are you compensated?

Accepted Answer

We are fee-only. We do not earn commissions, receive referral fees, or benefit from the products we recommend. For wealth management clients, we charge an annual advisory fee based on assets under management. For flat fee planning engagements, pricing is fixed and disclosed upfront - starting at $1,500 for a focused single-area review and ranging to $25,000 or more for complex multi-year engagements involving pre-liquidity planning, practice transitions, or multi-entity situations. All fees are agreed upon before work begins.

Question 3

What does "fiduciary" actually mean in practice?

Accepted Answer

It means we are legally required to act in your best interest at all times - not just when it's convenient or when the recommendation is simple. Many advisors are held only to a "suitability" standard, which allows recommending products that are adequate but not optimal. As a fiduciary, we are required to recommend what we genuinely believe serves your interests best, even if it costs us revenue.

Question 4

What does a discovery call look like?

Accepted Answer

A discovery call is 30 minutes. The first half is us listening - your situation, your goals, what isn't working. The second half is us telling you honestly whether we're the right fit and how we could help. We don't run sales pipelines, so if there's no mutual fit, we'll say so and refer you to someone who's better suited.

Question 5

When should I start planning around a potential exit?

Accepted Answer

Ideally 12–24 months before a transaction closes. Many of the most valuable strategies - QSBS qualification, charitable structures, income timing - must be in place before a deal is announced or a term sheet is signed. Waiting until close limits your options significantly.

Question 6

What is QSBS and can I benefit from it?

Accepted Answer

QSBS (Qualified Small Business Stock) is a federal tax exclusion under IRC Section 1202 that can exclude up to $10 million - or 10× your basis - of capital gains from federal tax when you sell qualifying startup stock. Eligibility depends on how and when you acquired the shares, the type of company, and its size at time of issuance. We work with founders to confirm eligibility and structure around it early.

Question 7

I have most of my net worth in company stock. What should I be doing?

Accepted Answer

Concentration risk is one of the most underestimated threats to long-term wealth. Depending on your situation, options include exchange funds, charitable remainder trusts (CRTs), systematic diversification using a 10b5-1 plan, or structured collars and hedging strategies. Each has different tax and liquidity implications. We help founders evaluate which tools fit their specific situation.

Question 8

How should I be thinking about my RSUs and stock options?

Accepted Answer

RSUs and options require decisions about timing, tax brackets, and concentration. For RSUs, the key question is whether to hold or sell at vest and how to integrate vesting income with your other tax exposure. For options - particularly ISOs - timing of exercise and potential AMT implications require careful modeling. We build equity comp calendars for executive clients so nothing is decided reactively.

Question 9

What's the risk of holding too much of my own company's stock?

Accepted Answer

The risk is that your income and your net worth are both tied to the same company's performance. If the company struggles, you may face a pay cut and a portfolio decline simultaneously. Diversification is more complicated for executives due to trading windows and blackout periods, but it's still achievable with a structured plan.

Question 10

Can you help with deferred compensation decisions?

Accepted Answer

Yes. Nonqualified deferred compensation (NQDC) decisions involve timing elections, distribution scheduling, and counterparty risk - the plan assets are subject to your employer's creditors. We model the trade-offs between deferring income (tax benefit) versus the counterparty risk and the lost flexibility, and help you decide how much to defer and when.

Question 11

I started saving late due to training. Can I still retire comfortably?

Accepted Answer

Yes, and your income trajectory actually makes catch-up planning very effective. Physicians have access to higher contribution limits through defined benefit plans and cash balance plans, in addition to 401(k) and 403(b) options. A well-structured retirement plan - especially in the years following training - can compress decades of savings into 10–15 years of aggressive contribution.

Question 12

Should I own my practice or stay employed?

Accepted Answer

It depends on your specialty, lifestyle goals, and appetite for business risk. Practice ownership offers income upside and asset-building potential (including a future sale), but comes with complexity around payroll, overhead, malpractice, and succession. We can model both paths financially and help you think through the non-financial trade-offs.

Question 13

What should I know about selling my practice?

Accepted Answer

Practice sales involve business valuation, deal structure (asset vs. stock sale), tax treatment, and often an employment agreement with the buyer. The structure of the deal has enormous tax implications - sometimes a 20–30% difference in after-tax proceeds depending on how income is characterized. We work with physicians preparing for a practice transition to maximize after-tax proceeds and plan for post-sale wealth management.

Question 14

How do physicians typically structure compensation for tax efficiency?

Accepted Answer

Physicians who own their practice or work through an LLC or S-corp have significant flexibility. Options include splitting income between salary and distributions to reduce self-employment taxes, contributing aggressively to retirement plans, and taking advantage of the Section 199A deduction for qualified business income. The right structure depends on specialty classification and entity type - we model this annually.

Question 15

What asset protection strategies should physicians consider?

Accepted Answer

Physicians face above-average litigation risk. Key tools include appropriate malpractice and umbrella insurance, retirement account protection (which varies by state), domestic asset protection trusts (in applicable states), and entity structuring to separate practice liability from personal assets. Asset protection planning works best when implemented well before any claim arises.

Common questions