Dental Wealth Nation with Tim McNeely

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Managing multiple dental practices without burning out requires systems, delegation, and a fundamentally different relationship with your own role. Dr. Mark Davis built and managed 16 locations — and in this episode, he and Tim McNeely break down exactly how he did it.

What you'll hear:

The operational infrastructure that made managing 16 dental practices sustainable
How Dr. Davis protected his personal time, health, and wealth while scaling
The leadership and delegation frameworks that prevent burnout at scale
What the exit looked like — and what he would do differently

If you're running more than one location — or planning to — this episode is the most practical guide to managing multiple dental practices you'll find.

Learn more and connect with Tim at timmcneely.com

Connect with Tim McNeely: Website: https://timmcneely.com Take the Advisory Gap Assessment: https://timmcneely.com/exit-assessment Book an Exploratory Call: https://timmcneely.com/contact

Tim McNeely, CFP® CIMA® CEPA® CPFA®, is a wealth advisor and exit strategist serving dental entrepreneurs with $5M–$25M practices. He specializes in exit architecture — coordinating tax strategy, deal structuring, estate planning, and advisory team alignment around the largest financial event of a dentist's career. He operates LifeStone, a LifeStone for dental entrepreneurs. The Dental Wealth Nation Show is produced by LifeStone. New episodes weekly. Connect with Tim McNeely: Website: https://timmcneely.com Take the Advisory Gap Assessment: https://timmcneely.com/exit-assessment Book an Exploratory Call: https://timmcneely.com/contact

Tim McNeely, CFP® CIMA® CEPA® CPFA®, is a wealth advisor and exit strategist serving dental entrepreneurs with $5M–$25M practices. He specializes in exit architecture — coordinating tax strategy, deal structuring, estate planning, and advisory team alignment around the largest financial event of a dentist's career. He operates LifeStone, a Virtual Family Office for dental entrepreneurs. The Dental Wealth Nation Show is produced by LifeStone. New episodes weekly.

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Dental practice culture transformation is the $1M opportunity most entrepreneurs overlook when planning for growth and eventual exit. In this episode of The Dental Wealth Nation Show, host Tim McNeely sits down with Danielle Kramer, founder of Easy Dental Solutions, to explore how intentional culture shifts directly impact practice valuation, team retention, and profitability.

Why Culture Matters to Your Practice Exit:

Buyers evaluate culture and team stability as core valuation drivers—weak culture reduces multiples
High-performing teams generate consistent EBITDA growth that multiplies practice sale price
Retention reduces transition risk and increases post-sale earnout payments
Systematized culture scales faster than individual leadership alone

What This Episode Covers:

Danielle and Tim discuss the operational and financial gaps created by neglected team dynamics, how to build systems that attract and keep top talent, and why culture investments compound into measurable wealth for dental entrepreneurs preparing for exit.

Who Should Listen:

Practice owners generating $1M+ in revenue who want to maximize practice value before sale, improve operational efficiency, or transition to leadership focused on strategic planning rather than daily management.

Learn more and connect with Tim at timmcneely.com

Connect with Tim McNeely: Website: https://timmcneely.com Take the Advisory Gap Assessment: https://timmcneely.com/exit-assessment Book an Exploratory Call: https://timmcneely.com/contact

Tim McNeely, CFP® CIMA® CEPA® CPFA®, is a wealth advisor and exit strategist serving dental entrepreneurs with $5M–$25M practices. He specializes in exit architecture — coordinating tax strategy, deal structuring, estate planning, and advisory team alignment around the largest financial event of a dentist's career. He operates LifeStone, a Virtual Family Office for dental entrepreneurs. The Dental Wealth Nation Show is produced by LifeStone. New episodes weekly.

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Dental practice burnout solutions for 8-figure entrepreneurs start with clarity on one goal. In this episode of The Dental Wealth Nation Show, Tim McNeely sits down with Melinda Hereford to reveal the single-focus method that transforms overwhelmed practice owners into wealthy, strategic operators ready for successful exits.

Why Burnout Kills Practice Value:

Distracted leadership destroys EBITDA and operational efficiency
Burned-out owners misread their practice's true valuation multiple
Lack of systems reduces buyer confidence and exit price
Without focus, wealth accumulation stalls before the transition

The 1-Goal Framework:

Melinda breaks down how elite dental entrepreneurs eliminate decision fatigue by anchoring every action to a single strategic objective. Whether that goal is improving EBITDA, strengthening DSO positioning, or preparing for a smooth transition, this method cuts through noise and accelerates practice valuation. You'll learn exactly how to prioritize wealth-building activities over daily firefighting.

What You'll Take Away:

How to identify your one goal that unlocks 8-figure practice potential
Systems to delegate burnout-causing tasks and reclaim leadership energy
Metrics that prove your goal is moving practice value forward
Exit readiness checkpoints for dental entrepreneurs in transition planning

Perfect for dental practice owners juggling multiple priorities, feeling stuck between growth and exhaustion, or preparing for a practice exit. This episode cuts through complexity and shows you exactly where to focus for maximum wealth impact.

Learn more and connect with Tim at timmcneely.com

Connect with Tim McNeely: Website: https://timmcneely.com Take the Advisory Gap Assessment: https://timmcneely.com/exit-assessment Book an Exploratory Call: https://timmcneely.com/contact

Tim McNeely, CFP® CIMA® CEPA® CPFA®, is a wealth advisor and exit strategist serving dental entrepreneurs with $5M–$25M practices. He specializes in exit architecture — coordinating tax strategy, deal structuring, estate planning, and advisory team alignment around the largest financial event of a dentist's career. He operates LifeStone, a Virtual Family Office for dental entrepreneurs. The Dental Wealth Nation Show is produced by LifeStone. New episodes weekly.

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What separates an 8-figure dental practice exit from an average one? In most cases, it's not the collections number — it's the operational story the practice tells a buyer. In this episode, Tim McNeely and Joe Lynch break down the Operational Empathy Model and how it drives premium valuations.

What you'll hear:

What buyers actually pay a premium for in an 8-figure dental practice exit
How operational systems reduce buyer risk — and increase your multiple
The specific documentation and processes that make a practice acquisition-ready
Why empathy-driven leadership translates directly to enterprise value

If you're building toward a high-value exit, this episode gives you the operational framework that commands 8-figure outcomes.

Learn more and connect with Tim at timmcneely.com

Connect with Tim McNeely: Website: https://timmcneely.com Take the Advisory Gap Assessment: https://timmcneely.com/exit-assessment Book an Exploratory Call: https://timmcneely.com/contact

Tim McNeely, CFP® CIMA® CEPA® CPFA®, is a wealth advisor and exit strategist serving dental entrepreneurs with $5M–$25M practices. He specializes in exit architecture — coordinating tax strategy, deal structuring, estate planning, and advisory team alignment around the largest financial event of a dentist's career. He operates LifeStone, a Virtual Family Office for dental entrepreneurs. The Dental Wealth Nation Show is produced by LifeStone. New episodes weekly.

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AI dental practice profitability is no longer a future concept — it's a competitive advantage available right now. In this high-energy episode, Tim McNeely and Ian Miller, CEO of Dental Mutuality and Guinness World Records holder, reframe what modern dentistry can look like when technology, DSO strategy, and patient experience align.

What you'll hear:

How AI tools are directly improving dental practice profitability and reducing overhead
The patient calm framework that increases case acceptance and retention
What DSO operators know about efficiency that solo practices can apply immediately
Why the practices that adopt AI now will command higher multiples at exit

If you're looking for hidden profit in your practice, this episode shows you exactly where to look.

Learn more and connect with Tim at timmcneely.com

Connect with Tim McNeely: Website: https://timmcneely.com Take the Advisory Gap Assessment: https://timmcneely.com/exit-assessment Book an Exploratory Call: https://timmcneely.com/contact

Tim McNeely, CFP® CIMA® CEPA® CPFA®, is a wealth advisor and exit strategist serving dental entrepreneurs with $5M–$25M practices. He specializes in exit architecture — coordinating tax strategy, deal structuring, estate planning, and advisory team alignment around the largest financial event of a dentist's career. He operates LifeStone, a Virtual Family Office for dental entrepreneurs. The Dental Wealth Nation Show is produced by LifeStone. New episodes weekly.

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Dental practice EBITDA improvement often comes from the last place owners look — equipment. Host Tim McNeely welcomes Dickie Ball, owner of Summit Handpiece Express, to uncover how simple handpiece maintenance and quality repair can dramatically improve a dental practice's efficiency, patient experience, and bottom line.

Most practice owners are losing thousands annually to handpiece downtime, rushed repairs, and deferred maintenance — costs that quietly compress EBITDA without ever showing up as a line item.

What you'll hear:

Why handpiece care is a direct EBITDA lever, not just an operational detail
The repair vs. replace decision framework that saves practices $10K–$40K annually
How equipment reliability affects patient retention and practice valuation at exit

If you're preparing for a practice sale or DSO conversation, equipment condition is on every buyer's checklist. This episode shows you how to get ahead of it.

Learn more and connect with Tim at timmcneely.com

Connect with Tim McNeely: Website: https://timmcneely.com Take the Advisory Gap Assessment: https://timmcneely.com/exit-assessment Book an Exploratory Call: https://timmcneely.com/contact

Tim McNeely, CFP® CIMA® CEPA® CPFA®, is a wealth advisor and exit strategist serving dental entrepreneurs with $5M–$25M practices. He specializes in exit architecture — coordinating tax strategy, deal structuring, estate planning, and advisory team alignment around the largest financial event of a dentist's career. He operates LifeStone, a Virtual Family Office for dental entrepreneurs. The Dental Wealth Nation Show is produced by LifeStone. New episodes weekly.

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In this episode of The Dental Wealth Nation Show, we unpack one of the most overlooked (and overpaid) parts of your financial life—taxes.

Join Tim McNeely and a seasoned tax planning expert as they explore how dental entrepreneurs can legally reduce their tax burden, avoid costly surprises, and protect themselves from penalties and audits.

You’ll discover:

How strategic planning can dramatically shrink your tax bill
The emotional and financial cost of tax surprises—and how to avoid them
Tools like defined benefit plans and captive insurance that could change the game
Why proactive tax strategy isn’t just about saving money—it’s about building wealth

Taxes erode your wealth silently over time. This episode shows you how to take it back—legally, wisely, and confidently.

👉 Learn more: drilldownsolution.com

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What if your exit wasn’t just a transaction—but a transformation?

In this episode of Dental Wealth Nation, we go beyond the spreadsheets and dive deep into how to design a life and practice that’s intentionally built for the exit of your dreams. Dr. Marc Liechtung joins me to share real-world wisdom from building, buying, selling, and even buying back high-end practices.

We explore:

Why valuation starts now—not when you’re ready to sell
How specific strategies (like adding procedures or real estate) unlock long-term value
How planning for your exit early can actually improve your work/life balance today
The most common valuation killers dentists don’t even realize they’re living with
What “Dentistry Beyond the Numbers” really means—and how to live it

If you want clarity, freedom, and a roadmap to a future you can actually get excited about—this one’s for you.

Listen now to unlock the mindset, metrics, and moves behind a high-value exit.

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Episode 0149 – Unlock Hidden Profits by Thinking Like a CEO – with Scott Grotjan

Is there money hiding in your dental practice?

Chances are… yes. And Scott Grotjan from Silverback is here to help you find it.

In this episode of Dental Wealth Nation, we’re shifting gears from just “doing dentistry” to thinking like a CEO. Scott reveals how hundreds of practices have increased cash flow, improved profitability, and boosted enterprise value—all without adding more patients or working more hours.

You’ll learn:

✅ Where most practices are leaking money

✅ Why mindset—not just management—is the key to profit

✅ How increased cash flow leads to a more lucrative exit

✅ What it means to lead your practice like a Silverback

✅ And yes… a few fun facts about gorillas 🦍

If you’ve ever felt stuck, overworked, or unsure how to grow without burning out—this conversation is your wake-up call. The wealth you’re looking for might already be in your hands… you just haven’t claimed it yet.

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🎧 Episode: From Drill to Dream — Reinventing Life After DentistryWhat happens when your identity has been built around a dental chair… and suddenly, it’s time to walk away?

In this powerful episode, Tim McNeely sits down with a dentist-turned-coach who’s guiding clinicians through one of the biggest transitions of their lives—retirement. But not the kind filled with boredom or confusion. We’re talking intentional reinvention.

Together, we explore:

Why retirement is not a destination—but a new era of enjoyment
The emotional surprises that come with leaving practice
How to navigate the grief, excitement, and identity shift
The role of travel in anchoring transformation and purpose
What it means to become a modern elder with legacy in mind

Whether retirement is 2 years or 20 years away, this conversation will challenge you to think differently, dream bigger, and prepare more meaningfully.

🎯 You’ll leave this episode knowing how to talk about what retirement can be, with a new mindset of curiosity—and feeling more excited than ever about what’s next.

🧭 Want support on your journey?

Check out the Transition Enhanced Program:

👉 https://virtualacademy.methodpro.com/courses/transition_enhanced

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In this episode of The Dental Wealth Nation Show, host Tim McNeely welcomes Matt Ornstein, CEO and founder of a dental group that has expanded from 20 to over 75 locations and co-owner of Dental Pitch Brokerage. This episode, titled "Revolutionizing Dental Practice Sales: Insights from Dental Pitch’s Matt Ornstein," dives into the intricacies of dental practice sales, providing dental entrepreneurs with strategies to unlock the true wealth of their practice.

Matt Ornstein shares his expertise on transforming a dental practice from a lifestyle business into a value creation business, focusing on how to increase the value of a dental practice. Listeners will gain a practical understanding of concepts like EBITDA, and learn how to effectively increase their practice's profitability. Ornstein also provides insights into the sales process, illustrating how dental professionals can extract the maximum value from their business. Key topics include understanding financial valuations, reducing costs while maintaining care quality, and the importance of strategic planning to achieve financial independence sooner.

Tim and Matt explore the advantages of transitioning before burnout and outline a realistic timeline for selling a dental practice. This discussion is essential for dentists looking to capitalize on their practice as a lucrative asset. Matt also highlights the innovative approach of Dental Pitch Brokerage, which fosters direct communication between buyers and sellers, ensuring better deals and cultural fits.

Join us in this episode as Tim McNeely and Matt Ornstein decode the dental sales process and provide actionable steps for dental professionals to enhance their financial future. Listen to learn how to navigate common challenges and effectively plan the sale of your dental practice in the evolving healthcare landscape.

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Healing the Healers: Navigating Grief with Dr. Parul Dua MakkarIn this compelling episode of The Dental Wealth Nation Show, host Tim McNeely welcomes Dr. Parul Dua Makkar, a practicing dentist and grief coach, for a heart-centered conversation on healing, resilience, and purpose.

Dr. Makkar shares her deeply personal journey—how her brother’s diagnosis and passing from oral cancer reshaped her mission in dentistry and beyond. Through her story, she sheds light on the often-overlooked emotional burdens carried by caregivers and healthcare professionals.

What You’ll Learn in This Episode:✅ The importance of self-care for dentists and caregivers

✅ How slowing down can be a powerful act of healing

✅ The role of empathy and community support in overcoming grief

✅ Practical tools for maintaining emotional and mental well-being

Dr. Makkar’s message is one of hope, transformation, and advocacy—not just for oral cancer awareness, but for the well-being of those who dedicate their lives to healing others.

🎧 Tune in to hear how grief can be a catalyst for purpose and how you, as a healthcare provider, can cultivate resilience in the face of life’s challenges.

Keywords:Dental Wealth Nation, Tim McNeely, Dr. Parul Dua Makkar, healing, caregivers, grief, resilience, self-care, oral cancer, community support, personal growth.

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In this insightful episode of The Dental Wealth Nation Show, host Tim McNeely welcomes Charlie Steinguss, the founder and president of Cash Balance Actuaries, to delve into the transformative potential of cash balance plans for dental practices. With a focus on strategic financial growth, this episode is a must-listen for driven dental entrepreneurs looking to maximize their net worth while effectively managing taxes.----more----

Listeners will gain a comprehensive understanding of how cash balance plans can serve as a powerful tool to reduce tax liabilities and fund retirement simultaneously. Charlie Steinguss, who brings over fifteen years of experience in crafting custom retirement solutions, shares valuable insights into how these plans can be tailored to fit the unique needs of dental practices. From offering flexibility in contributions to catering to mature practices with stable cash flow, cash balance plans are highlighted as an essential component in a savvy dentist’s financial toolkit.

Throughout the conversation, Tim and Charlie explore key aspects such as the diverse range of retirement plan options, the significant tax incentives associated with cash balance plans, and the strategic benefits of integrated actuarial expertise in plan management. Whether you’re looking for ways to improve your current retirement savings strategy or seeking a second opinion on your existing plans, this episode provides the knowledge you need to make informed decisions.

Join us as we unlock the hidden financial strategies used by some of the most successful dental and business professionals. Enhance your understanding of cash balance plans and learn how they can propel your practice toward greater financial security and efficiency. Don’t miss this detailed discussion that will leave you better equipped to handle retirement planning and tax management in your dental practice.

Listen now to grasp why cash balance plans are gaining traction among dental professionals and discover how you can implement these strategies to benefit both you and your employees. For further details and to explore illustration possibilities for your practice, reach out to Cash Balance Actuaries or visit their website today.

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In this insightful episode of The Dental Wealth Nation Show, host Tim McNeely is joined by Matthew Godley, the CEO of Spendly, to explore innovative strategies for dental practices to reduce costs and increase profitability. As dental practices strive to enhance their bottom line and grow their EBITDA, this episode offers valuable insights into leveraging technology for cost reduction.

Matthew Godley, with his personal and professional ties to the dental industry, introduces Spendly—a revolutionary cost reduction platform designed to streamline operating expenses for dental practices. Throughout the episode, key topics include the challenges of managing spiraling expenses, common areas of overspending, and the powerful impact of cost reductions on EBITDA and practice valuations.

Listeners will discover the importance of benchmarking tools and how Spendly facilitates seamless cost comparison across various categories like payroll, health benefits, retirement plans, and commercial insurance. Matthew explains how his platform is helping dental practices achieve savings, sometimes up to 50%, which significantly contributes to their financial growth without disrupting daily operations.

For dentists looking to optimize their practice expenses, Matthew provides practical advice on how to identify potential savings opportunities and verify them. The conversation highlights the significance of continuously monitoring expenses and the role of technology in driving financial efficiency over the next few years.

Whether you're a dental practice owner or part of a dental service organization (DSO), this episode is a must-listen for anyone aiming to improve their financial standing through strategic cost management. Don't miss out on these expert insights that can transform your practice and boost your profitability.

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In this episode of The Dental Wealth Nation Show, hosted by Tim McNeely, we dive deep into the realm of dental practice efficiency with special guest Gabriel Hofmann, renowned as the Dental Efficiency Guy. Join us as we explore the challenges and solutions for leveling up your dental practice or group, focusing on the importance of efficiency as a key driver of profitability and growth.

Gabriel Hofmann brings his extensive experience from years in large group practice operations and building multi-specialty locations to the table. Together with Tim McNeely, they uncover the common operational challenges that dental practices face, such as data redundancy, accounts payable complexities, and the inefficiencies of reporting. These challenges fall within three essential buckets: people, patients, and profits.

Throughout the episode, Gabriel shares valuable insights on employing custom automation and streamlining workflows to enhance practice efficiency. With automation often overlooked due to fears of change and job displacement, Gabriel reassures listeners of the positive impacts, including increased joy in the workplace, better use of human capital, and ultimately, improved bottom lines.

The discussion also touches on the process of optimizing practices with minimal disruption, and the role efficiency plays in making a practice more attractive to potential buyers, tying into exit planning strategies. Key concepts like "Joy ROI" and the search for business "cheat codes" provide practical insights for those aiming to maximize their practice's potential.

Listeners can expect to gain actionable strategies that not only streamline operations but also enhance the overall value and sustainability of their dental practices. Whether you're a single practice owner or managing a growing group, this episode is packed with expert advice that will help elevate your business in the dental industry. Tune in to discover the power of efficiency and how it can transform your practice into a thriving and joyful environment.

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Welcome to Dental Wealth Nation, where we empower driven dentists to transform their practices into engines of significant wealth and impact. As a passionate dentist, you're well aware that ordinary advice won't suffice in your extraordinary journey. This episode pulls back the curtain on the often-hidden strategies that can maximize your net worth, enabling you to better care for your loved ones and make meaningful contributions to the world.

Today, Tim McNeely is joined by Vin Cardello, the founder and CEO of Pronto, a visionary leader in helping dental practices understand and leverage critical metrics. Dive into a compelling narrative as Vin shares his inspiring journey from budding entrepreneur to a key player in the dental industry. Discover how Vin's experiences have shaped a pioneering approach that simplifies data analysis for dental practices, focusing on driving EBITDA and enhancing practice value.

Listen as Vin explains the transformative power of understanding numbers, delving into the nuances of practice management and the significance of moving from lifestyle businesses to value-driven enterprises. Learn how to interpret data effectively and make impactful decisions to improve the performance and valuation of your practice. With practical insights and real-life examples, this episode illuminates the path to achieving financial confidence and generational wealth.

Whether you're managing a single practice or a burgeoning dental group, glean strategies that will set you apart in the competitive landscape. This episode not only equips you with tools and technologies like Pronto to streamline your operations but also inspires you to embrace a new mindset—one where numbers are not just figures on a page, but keys to unlocking the potential of your dental empire.

Join us for this enlightening discussion, and take the first step towards an empowered future for your dental practice with Dental Wealth Nation. Remember, when you truly understand your numbers, you're not just reporting them—you're using them to shape a brighter, more prosperous future.

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In this enlightening episode of Dental Wealth Nation, your host Tim McNeely invites listeners to embark on a journey of discovery, inspiration, and strategic philanthropy. Join us as we pull back the curtain on the often-hidden advice and strategies that successful individuals and families use to achieve extraordinary goals.

As a driven dentist, you understand the value of unique perspectives and the power of visionary thinking. This episode introduces you to Morris Mogel, a compassionate dental hygienist with a heart of service. Born in a small village on the slopes of Mount Kenya, Morris has transformed his life experiences into a mission of making a significant impact in the world.

Morris shares the heartfelt story behind Safari and Smiles, a non-profit organization keen on blending dental care missions with dream safari experiences. Discover how strategic philanthropy allows Morris and his team to bring joy, alleviate pain, and educate communities across Africa. Experience the power of combining immense adventures with noble deeds as Morris takes you behind the scenes of his incredible journey.

This episode not only highlights the profound impact of individual donors and small acts of kindness but also inspires dentists and professionals alike to rethink their approach to giving. Learn practical tips on strategic gifting and values-based philanthropy, encouraging listeners to align their generosity with their core beliefs. From GoFundMe campaigns to the intricacies of setting up a 501(c)(3) organization, you'll gain insight into successfully navigating the world of charitable giving.

Tim McNeely and Morris Mogel bring to light the critical role of storytelling in maximizing charitable impact and emphasize why almost 64% of gifts come from individual donors. This episode isn't just about dentistry—it's about crafting a life of significance, transforming the world one smile at a time, and making your dent in the universe.

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Join us in this captivating episode of Dental Wealth Nation as we pull back the curtain to unveil the hidden strategies and advice that propel the most successful dentists and practitioners towards a future of abundance and freedom. With a passion for turning business deals into exhilarating experiences, our extraordinary guest, Elijah Desmond, a dental hygienist-turned-entrepreneur, shares his journey from motivational speaking at 15 to revolutionizing exit strategies for dental practices.

Tim McNeely welcomes Elijah Desmond, known for his unique approach and charismatic persona as DJ Smiles, to explore the world of dental practice exits. Elijah brings his infectious enthusiasm to what is often seen as a daunting process, making it clear that exiting doesn't have to be a struggle. By focusing on the endgame from the beginning, Elijah emphasizes the power of having a well-defined "why," which is crucial in crafting a seamless transition from practice ownership to the next chapter of life.

Dive into this narrative as Elijah uncovers the importance of early planning, demonstrating why knowing the potential value of your practice years before your exit is a game-changer. With insights on the cultural fit of organizations, innovative event-based selling processes, and the imperative of understanding your practice's true worth through proper EBITDA evaluations, Elijah's approach is a testament to creating not just successful exits, but joyful ones.

Discover how Elijah's vision reshapes exit strategies with authenticity, turning dentists from sole practitioners to premier partners in dental groups. His entertaining yet strategic approach ensures that dentists not only maximize their financial outcomes but also ensure continuity in their life's work. Whether you're nearing retirement or just beginning to think about a future transition, this episode is your guide to a prosperous and fulfilling business exit journey. Listen in and learn how to make your transition not just a conclusion, but a celebration.

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🔥 Unlock the Secrets to Retain Top Talent and Maximize Your Dental Practice's Wealth! 🔥

Welcome to The Dental Wealth Nation Show, where host Tim McNeely reveals the powerful strategies you need to grow, sustain, and exit your dental practice with confidence and abundance. In this riveting episode, "Pay with Purpose," we explore how to transform your compensation strategy from a liability into an investment, helping you attract and retain the best talent while cultivating a thriving work culture.

Join certified financial expert Tim McNeely, a seasoned CFP, CIMA, and CEPA, as he delves into key issues like retention, abundance mindset, and employee compensation. Learn from special guest Kevin, Founder and CEO of Intuitive Compensation, who shares how to bring an abundance mindset into your practice to create a culture of success and sustainability.

💡 In This Episode, You'll Discover:

How to turn your payroll from an expense into an investment
Why retention dollars outperform incentive dollars
How creating a "big win" for your associates can transform your practice
The impact of innovative compensation strategies on your EBITDA
Why aligning your team's goals with the practice's goals is crucial

Tune in to gain insider strategies, expert insights, and actionable financial tips that can revolutionize how you operate and grow your dental practice.

👉 Don't miss out! Subscribe now to stay ahead with cutting-edge strategies for Dental Wealth, Exit Planning, Business Growth, and Retirement Strategies. Visit our website at dentalwealthnation.com for more information and to book a free consultation today!

Tags: #DentalWealth #ExitPlanning #BusinessGrowth #RetentionStrategies #CompensationInnovation #EmployeeRetention #TimMcNeely

Engage with this heart-centered content to transform your financial future and make a lasting impact on your practice and community! 🌟

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In this insightful episode of The Dental Wealth Nation Show, host Tim McNeely and certified business coach Ben Shaver, dive deep into the complexities of recruiting associate dentists efficiently and cost-effectively. As dental practices face increasing challenges in finding and retaining quality talent, this episode offers valuable strategies to overcome recruitment hurdles.

Tim McNeely opens the discussion by highlighting the current recruitment difficulties in the dental industry, emphasizing both internal and external avenues. Ben Shaver then shares his expertise, emphasizing the critical importance of employer branding, messaging, and cultivating a strong internal culture to attract top-tier associate dentists.

The conversation thoroughly explores the misalignment between younger dentists' expectations and practice owners' needs, along with geographical and timing challenges. The episodes underscore the essential nature of maintaining a consistent practice through effective talent acquisition and retention, while managing associated costs.

Key techniques such as reaching out to dental schools and utilizing advanced talent sourcing methods are discussed. The importance of employer reviews on platforms like Glassdoor and Indeed is also highlighted. Encouraging positive reviews can balance out any negative feedback and improve the practice’s image to potential employees.

Attracting and retaining dental talent is further examined through the lens of social media and its role in portraying the practice's brand and culture. Tim and Ben stress the need for a well-aligned leadership, culture, and brand to create a positive work environment, facilitating employee referrals and internal recruitment success.

The shifting priorities of younger generations of dentists are also explored, with a notable emphasis on quality of life and a supportive work environment over financial rewards alone. The episode dives into building a robust recruitment pipeline, underscoring the necessity for a clear mission statement and a vivid vision for the future of the practice.

Additional highlights include industry statistics on associate dentist retention, overcoming recruitment challenges through relationship-building akin to business-to-business marketing, and the role of 3rd party recruiters in speeding up the recruitment process. A successful client example showcases the cost and quality benefits of effective talent sourcing.

Tune in to gain actionable insights and innovative strategies to navigate the evolving landscape of dental associate recruitment. Don't miss out on this valuable conversation that aims to transform your recruitment approach, ensuring your practice is well-equipped for future growth.

For more information and valuable resources, visit dentalwealthnation.com.

Discussion Questions:

What are the biggest challenges dental practices face when recruiting associate dentists, and why do these challenges exist?
How can dental practices improve their employer brand and culture to attract top talent more effectively?
What strategies can dental practices implement to align the interests of younger dentists with those of practice owners?
In what ways do geographical and timing challenges impact the recruitment process, and how can practices overcome these obstacles?
Why is it essential for dental practices to focus on reviews on job recruiting sites like Glassdoor and Indeed, in addition to Google, Yelp, and Facebook?
How can practices utilize their current employees and internal recruitment plans to find quality candidates who fit the practice culture?
What role does social media play in portraying a dental practice’s brand and culture, and how can practices leverage this for recruitment?
How important is building a recruitment pipeline with culture, mission statements, and a vivid vision for the future, and why do many practices lack these components?
What are the key metrics for recruiting associate dentists, and how can practices measure and improve these metrics?
How can dental practices benefit from creative recruitment strategies, such as recruiting international dentists, and what are some success stories in this area?

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In this enriching episode of The Dental Wealth Nation Show, host Tim McNeely is joined by Nithya Karia, a renowned happiness coach and author of the influential book, "High Vibe Habits." Together, they explore the transformative power of happiness and how it can lead to increased empathy, creativity, and collaboration.

Nithya Karia delves deep into the importance of reducing stress and opening the mind to new possibilities. By practicing curiosity and controlling what we can actually control, she reveals how these practices can foster a positive shift in mindset, leading to powerful personal and professional growth. Listeners will learn how to harness energy for positive change and the impact of directing this energy towards meaningful outcomes.

Throughout the episode, Tim McNeely praises the impactful shift in focus and mindset, emphasizing the need to seek abundance even in a world that often appears scarce. Nithya Karia shares her journey, emphasizing that happiness is not merely about external achievements but about receiving and planning for true fulfillment. She addresses the common struggles of achievers who feel trapped by measurable goals and societal expectations.

Listeners will gain insights into the significance of being human beings rather than human doings, as Nithya Karia encourages a flexible approach to self-improvement. By taking small steps and checking in with one's feelings, individuals can achieve a state of balance and empowerment. This episode also highlights the misconceptions about happiness being fragile and dependent on external factors, urging individuals to prioritize their own well-being.

Additionally, Nithya Karia and Tim McNeely discuss the importance of self-care, enlightened self-interest, and acting with intention to be of service to others. Nithya's workshops and her book "High Vibe Habits" are designed to help people thrive without exhausting themselves, shifting their perspective to a more empowered state of being.

Join us for a captivating conversation with Nithya Karia as she shares valuable strategies for improving well-being, achieving personal growth, and realizing the impacts on happiness and achievements when focusing on "being" rather than just "doing." Don't miss this enlightening episode offering a framework for personal growth and tips for a fulfilling life journey.

For more information, visit Nithya Karia’s website or follow her on social media. Listen in to take control of your happiness and create the life you desire.

Discussion Questions:

Mindset Shift Techniques: Nithya Karia emphasizes the importance of reducing stress to enhance empathy, creativity, and collaboration. What techniques or practices can you implement in your daily life to reduce stress and open your mind?
Curiosity in Communication: How can fostering a sense of curiosity transform your approach to handling unexpected situations and communicating with others?
Control and Influence: Discuss the concept of focusing on what you can control. How does this practice impact your overall well-being and stress levels?
Energy and Positive Change: How can you harness and direct your energy towards creating positive change in your personal and professional life?
Myths of Happiness: Nithya addresses the misconception that happiness is fragile and reliant on external factors. How can this mindset shift help you prioritize your well-being?
Balance Between Achieving and Receiving: Nithya talks about finding a balance between achieving goals and receiving joy. How can you create this balance in your life, and why is it important for long-term happiness?
Enlightened Self-Interest: What does acting with enlightened self-interest mean to you, and how can it enhance both your life and your ability to help others?
Body Scan Practice: Nithya suggests doing a body scan to assess feelings. Have you tried this practice? What are your experiences, and how has it influenced your decision-making and emotional clarity?
High Vibe Habits: Discuss some common challenges you face in adopting new habits for personal growth. How can Nithya’s concept of "High Vibe Habits" help overcome these challenges?
Workshop and Community: Nithya holds workshops that focus on intentional investment of energy and personal happiness. How valuable do you think these communal experiences are for personal growth, and would you be interested in attending such a workshop?

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Get insights into the world of specialized dental care as Dental Wealth Nation showcases a compelling discussion with Lisa Kerbo, an experienced dental hygienist renowned for her work with special needs patients. This conversation is a must-listen for dental practitioners eager to enhance the inclusivity and diversity of their practice.

The episode is filled with stories of Lisa's journey, her transitional challenges, and how she succeeded in integrating special needs care into her practice. She generously shares how continuing education and active volunteering are initial steps towards embarking on this journey of unique patient care.

This conversation also delves into the pivotal aspects of legalities and hospital credentialing. Lisa offers valuable recommendations on where to focus when venturing into this specialized field of dentistry. The episode firmly emphasizes that a practitioner's commitment to inclusivity can make a significant difference in the life of a patient with special needs.

Remarkable wisdom also stems from the-heartfelt experiences shared by our guest about accommodating patients with chronic illnesses and dementia. The conversation provides a clear illustration of how to assemble and reinforce a dedicated team, while also driving home the significance of comprehensive caregiver involvement as a cornerstone for customized patient service.

One innovative highlight of the discussion is Lisa's 'Dental Sensory Kit', designed to acclimate special needs patients to a dental office environment. This component of the conversation underscores the episode's core message: By taking strategic steps and staying committed, dental practitioners can create an atmosphere that is not only integrative and productive, but also immensely comforting for special needs patients.

Listen to this engaging episode for expert advice and firsthand insights into making dental healthcare more accessible, more inclusive, and profoundly beneficial for all patients, regardless of their unique needs.

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In this empowering episode of The Dental Wealth Nation Show, host Tim McNeely is joined by esteemed financial coach Kristie Reph, to delve into a topic that plagues many dental professionals – debt management and retirement planning. Kristie brings her considerable expertise to the table, sharing actionable insights that are particularly relevant for dentists looking to achieve financial independence and secure a robust retirement.

Throughout the episode, Kristie highlights the crucial first step towards overcoming debt: the willingness to change and the open-mindedness to absorb guidance from financial experts. With her unique background rooted in healthcare, Kristie blends empathy with a no-sugarcoating approach to financial coaching. Together, Kristie and Tim address the all-too-common perception of finances as a daunting challenge, and they discuss strategies to navigate the often overwhelming landscape of debts common in high-earning professions like dentistry.

This episode goes beyond just the numbers; it's about breaking down behavioral barriers to financial success. Kristie suggests practical methods such as creating a spending plan, strategic debt repayment, and prioritizing expenditures to pave the way for debt_freedom. The discussion doesn't shy away from touchy subjects like the stark reality that 80% of the population lives paycheck to paycheck, a situation often attributable to the lack of financial education during one's developmental years.

In addition to practical advice, Kristie shares her inspiring personal journey of overcoming significant debt, which reinforces the power of financial education, budgeting, and a savings-oriented mindset. The insights provided in this episode are aimed at helping dental professionals map out their finances to tackle debt aggressively while simultaneously preparing for retirement.

Finally, the conversation turns to the future, with Tim and Kristie emphasizing the need for planning, honest financial conversations, and taking real steps towards improving one's financial health. Kristie Reph's return to The Dental Wealth Nation Show is eagerly anticipated, as listeners walk away with invigorated motivation to pursue the dream of being debt-free, wise investment strategies, and a future where financial strain does not dictate the quality of their lives or relationships.

This episode of The Dental Wealth Nation Show with Tim McNeely is an essential listen for any dental professional seeking to take control of their financial destiny, reduce stress and anxiety associated with debts, and lay the groundwork for a thriving, worry-free retirement.

Discussion Questions:

How does Kristie Reph suggest dentists shift their mindset to become open to changing their financial habits? Can you share a time when a change in mindset impacted your financial decisions?
Tim McNeely touches on the fear of finance being a monster. How can dentists approach this fear constructively to take control of their financial situation?
Debt accumulation is common in high-income professions like dentistry. What strategies can be employed to not only manage but also prevent excessive debt in such professions?
Kristie Reph emphasizes addressing underlying behavioral issues when it comes to spending. What are some common behavioral barriers to financial wellness, and how can they be overcome?
Financial education tends to be missing from early education. How can dental professionals compensate for this lack to ensure their financial health?
Christy Ruff shares her personal journey of debt and the role of financial education in overcoming it. What lessons can be learned from her story that can be applied to the lives of dental professionals?
Discuss the concept of a spending plan versus a traditional budget. How would implementing a spending plan change your current approach to your finances?
Kristie talks about the importance of accountability in managing finances. How can dentists implement accountability structures in their financial routines?
The conversation on the podcast touched upon the need for honest discussions about money between partners. How can dentists facilitate such conversations within their households while mitigating conflict?
Kristie Reph and Tim McNeely highlight the impact of poor financial health on personal well-being. In what ways can dental practices and families cultivate a culture of financial wellness for all members?

Don't miss out on this insightful and transformative conversation. Tune in to The Dental Wealth Nation Show for more knowledge bombs and expert advice tailored specifically to the dental community's wealth-building journey.

Remember to visit our website to connect with Kristie Reph for financial coaching services, learn more about creating your custom financial plan, and discover how you can join the ranks of financially savvy dental professionals who are making debt_freedom and secure retirement a reality.

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Navigating the intricate journey of dental practice transition requires thoughtful planning and expert insight. In this compelling episode of The Dental Wealth Nation Show, host Tim McNeely welcomes Cary Fry, a seasoned transition planning strategist from Callamath Consulting Group, to delve into the crucial steps of transitioning your dental practice on your own terms.

Cary Fry brings his extensive experience to the table, discussing the emotional, financial, and strategic facets of creating a successful exit plan. He highlights the significance of aligning personal goals, such as family time, with your practice exit strategy, rather than being swayed solely by unpredictable market conditions.

Throughout the episode, Cary emphasizes the value of having a cohesive, elite team of professionals to streamline the business transition process. He shares his unique 7-step framework, tailored specifically for dental professionals looking to retire or transition their practice to new ownership, whether it's to family members, internal buyers, or through an Employee Stock Ownership Plan (ESOP).

Listeners will gain insight into how market trends, economic fluctuations, and dental industry specific factors can influence their transition strategies. Cary and Tim touch on the importance of understanding your practice's valuation, reinforcing its attractiveness through value drivers such as motivated leadership, and building effective incentive structures for key employees.

Moreover, Cary Fry addresses the hesitations and common challenges faced by dental practice owners, providing actionable advice on how to approach transition planning holistically. Discover why time is your ally in planning a successful exit and learn about the resources available to help you prepare for the future of your dental practice.

Discussion Questions:

How can a dentist emotionally and mentally prepare for the significant change that comes with exiting their practice?
In what ways do personal goals factor into the timing and methodology of transitioning out of a dental practice?
Cary Fry highlights the importance of a coordinated team of professionals in the transition process. What are the key roles in such a team, and how do they collaborate effectively?
Based on Cary Fry's 7-step framework for business transition, what are the initial steps a dentist should take when considering selling their practice?
What challenges might a dental practice owner face when transitioning their business to insiders, such as family members or key employees, versus an outside buyer?
Cary Fry talks about building incentive structures for key employees. What types of incentives should dental practice owners consider to enhance the value and attractiveness of their practice for a successful transition?
Considering that many dentists lack a transition plan, what barriers might be preventing them from engaging in this critical planning? How can they be encouraged to take action?
Given that economic conditions and market trends can impact a practice's transition strategy, how can a dentist stay informed and adapt their plans accordingly?
What are some strategies for ensuring the continuity and stability of a dental practice post-sale, to protect the legacy and maintain the culture of the practice?
How can a dental practice owner determine the right timing and approach for conducting a business valuation, and what steps should they take to close any identified value gaps?

Don't miss this insightful conversation if you're a dental professional aiming to maximize your practice's net worth, understand the intricate details of practice transition, or simply seeking guidance on how to begin the succession planning process. Tune in to transition on your terms and secure your Dental Wealth Nation legacy.

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Welcome to The Dental Wealth Nation Show with your host, Tim McNeely. In this thought-provoking episode, we sit down with special guest Eric Roman, dentist and founder of a successful Dental Service Organization (DSO), to delve into a topic that transcends professional achievements: finding personal fulfillment that matches or surpasses your success in the dental industry.

Eric Roman shares his transformative journey from prioritizing his dental business to discovering a more balanced and fulfilled life. Roman candidly discusses the pervasive lies surrounding work-life balance, the glorification of the hustle, and the often misguided pursuit of business success at the expense of personal relationships and well-being.

Listeners will benefit from this deep dive into the challenges and learnings that come with balancing a demanding dental career with personal happiness. Eric takes us through the valuable insights he gained after facing a lawsuit, financial challenges, and almost going bankrupt. He reveals his approach to starting anew and supporting others in the dentistry field to do the same.

This episode is a goldmine for dentists, dental practice owners, and professionals within the dental industry looking to maximize their net worth while not neglecting their personal life's wealth. Tim McNeely probes the complexities of achieving a fulfilling personal life amidst professional success, bringing to light the importance of mindset, belief in long-term investment, and reevaluating the narratives we tell ourselves about success.

Moreover, Eric Roman introduces the OneLife system, a framework that aims to balance the four critical components of life: happiness, purpose, financial stability, and relationships. He emphasizes the need for self-care, sustainable work-life harmony, and the power of community and accountability.

In a discussion that transcends the dental profession, we tackle the diminishing returns of monetary wealth and question if the relentless pursuit of more money is worth the sacrifice of time and relationships. Eric provides a fresh perspective on finding joy and fulfillment beyond the confines of the business world.

For dentists and dental industry professionals seeking not only to scale their business but to elevate their quality of life, this episode of The Dental Wealth Nation Show is an essential listen.

Discussion Questions:

How did Eric Roman's personal journey of prioritizing work over family life resonate with you, and have you experienced similar challenges in your own life?
What are some of the most common "lies" associated with work-life balance that dental professionals believe, and how can they be addressed?
In what ways do you see the hustle and grind culture affecting the dental industry, and what steps can be taken to shift the focus towards more holistic success?
Eric Roman spoke about the realization he had from his daughter's perspective. How can dentists ensure they are not sacrificing important family time for the sake of business growth?
What are some strategies that dental professionals can use to measure success in their personal lives, as opposed to just their business achievements?
After hearing about Eric's turning point during his lawsuit, what do you think about the idea that our greatest challenges can lead to our most significant growth, both personally and professionally?
The OneLife system addresses happiness, purpose, financial stability, and relationships. Which of these components do you find most challenging to balance with your professional life, and why?
Eric emphasizes the need for accountability and community support in the OneLife system. How can dental professionals actively build and engage with their support communities?
How can dental practice owners create an environment that supports both the professional growth and the personal fulfillment of their employees?
Eric Roman shared his vision of a better world through the implementation of personal growth models within companies. What immediate steps can individuals in the dental industry take to start creating this change in their own practices?

Tune in to discover why Eric Roman believes that true wealth comes from a balanced life and why improving your personal life can lead to even greater success in your dental practice. Don't miss out on this invaluable conversation that could redefine how you view success and fulfillment in both your personal and professional lives.

Make sure to follow The Dental Wealth Nation Show for more insights into building wealth within the dental industry while leading a meaningful and joyful life.

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Welcome to another insightful episode of The Dental Wealth Nation Show hosted by Tim McNeely, where we're dedicated to helping dentists and dental entrepreneurs maximize their net worth and care for their loved ones and community causes. In Episode 116, we address a rarely discussed yet significant aspect of the dental profession—the loneliness of dentistry—and how finding your tribe within a supportive community can be transformative.

Our special guests, Chris Snyder and Roland from Xiris Dental, join us to delve into their experiences with creating a thriving, candid community through Empowered Dentistry. They provide an in-depth look at why forming online communities is essential for dental professionals to share knowledge, combat burnout, and foster mental health and wellness.

We cover hot topics including adapting to new dental technologies, strategies for patient acquisition, tackling post-pandemic staffing issues, and the financial challenges facing dental students and young practitioners. Our guests emphasize the power of engaging with a community of peers for problem-solving and support during challenging times.

In this episode, Chris and Roland reveal the importance of meaningful engagement in dental communities and how authentic connections can aid in professional growth, learning, and well-being. They stress the significance of openness and friendly discussions without snarkiness or judgment, creating a safe space for all levels of experience within the dentistry field.

Listeners will learn the benefits of sharing issues and information within a community, fostering an environment where it's okay to ask for help, and discovering the value of resonant, smaller communities over large, disengaged ones. Empowered Dentistry's approach to free community membership and commitment to valuable interactions is also highlighted.

Whether you’re looking to expand your dental knowledge, seeking advice on practice management, or finding a network that enriches your experience, this episode emphasizes the importance of community involvement for both personal and professional development.

Discussion Questions:

How can dental professionals overcome the sense of isolation that often comes with their practice through community engagement?
What are some effective strategies for dental professionals to stay informed about the latest technologies and industry changes within their community?
In what ways can being an active member of a dental community support a professional during challenging times, such as dealing with burnout and stress?
How can dental communities help professionals navigate the complex issues of cybersecurity and patient data protection in their practices?
What benefits can younger dentists and dental students gain from participating in communities like Empowered Dentistry, especially concerning their financial burdens?
What role does authenticity play in fostering a supportive and constructive environment within dental communities like the one created by Empowered Dentistry?
How can dental professionals strike a balance between actively participating in their community and managing the demanding responsibilities of their practice?
In what practical ways can a dentist stay true to their 'north star' while navigating the evolution of their practice and the dental industry?
Can you share successful stories of how community involvement has tangibly helped dental professionals solve problems or improve their practice management?
How do communities such as Empowered Dentistry accommodate the variety of experience levels within dentistry, and what measures are in place to ensure that every member can contribute and learn adequately?

Join us on The Dental Wealth Nation Show as we explore overcoming the loneliness of dentistry by finding your community, and how doing so can add a significant layer of wealth to your life beyond monetary means.

Remember, in a niche industry like dentistry, the right connections can make all the difference. Don’t miss out on this must-listen-to episode that could unlock new dimensions of wealth for you and your dental practice.

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Welcome to The Dental Wealth Nation Show, where we empower dentists to increase their net worth and make a significant impact in their field. In this enlightening episode, our host, The Dental Wealth Nation Intro Guy, sits down with the highly accomplished Dr. Kory Wegner, CEO and founder of Coaching for Success, to unravel the strategies for maximizing your dental practice's potential.

Dr. Kory Wegner brings a wealth of experience to the discussion, offering invaluable insights into the small, yet profound changes you can implement for a substantial effect on patient care, team dynamics, and overall business success. Dentists and dental professionals tuning in will find a trove of actionable advice to refine their practice methods and enhance profitability.

With Dr. Wegner's innovative perspective, we delve into the intricacies of modern dentistry, emphasizing the role of ethical selling and the significance of patient-centered treatments. Discover how focusing on a select number of procedures and tools can not only streamline operations but also alleviate practitioner burnout and elevate patient satisfaction.

The episode also covers the crucial aspects of practice management, from marketing to scheduling, pinpointing the need for dental coaching and consultancy to tackle the unique challenges faced by solo practitioners and larger practices alike. Dr. Wegner's insights into cultivating a thriving workplace culture and the importance of connecting with team members are indispensable for any dental leader looking to retain talent and foster a harmonious work environment.

Moreover, Dr. Wegner candidly shares his experiences with Dental Service Organizations (DSOs), offering sage advice for those considering such transitions. Listeners will learn the importance of due diligence, contract negotiations, and preserving clinical autonomy in these arrangements.

For a limited time, Dr. Wegner extends an exclusive offer to The Dental Wealth Nation Show listeners: a substantial discount on his coaching program for early responders. Alongside the valuable content shared within the episode, our guest provides an opportunity for free coaching calls, further solidifying his commitment to uplifting the dental community.

Discussion Questions:

How can dental professionals begin to implement small changes in their practice to create a big impact without overwhelming their team?
Dr. Wegner discussed the significance of magnification in dental work. What are some steps a dental practice can take to ensure they are using the most effective tools for visualization and precision in treatment?
What are the key factors that dental practitioners should consider when searching for a coach or consultant to improve their practice operations?
Ethical selling within the dental practice was emphasized by Dr. Wegner. How can dental teams improve their approach to selling treatments and services to ensure they are patient-centered and ethical?
Dr. Wegner streamlined his practice to focus on 8 essential procedures. What criteria can dentists use to decide which procedures to focus on, and how might this decision affect their practice?
What are some potential risks and benefits of dentists selling their practices to join Dental Service Organizations (DSOs), and how can they prepare for the transition?
Dr. Wegner highlighted the importance of building trust with patients. Can you share additional tactics or experiences for cultivating strong relationships with patients?
Considering Dr. Wegner's experience, how can dentists effectively involve patients in treatment plans and ensure their needs and wants are addressed?
How can dentists maintain their passion for the profession while managing the stress and potential burnout associated with running a dental practice?
The Dental Wealth Nation Show focuses on maximizing net worth for dentists. Based on Dr. Wegner's insights, what are some key strategies dentists can employ to enhance their financial stability while providing excellent patient care?

This engaging episode of The Dental Wealth Nation Show is a must-listen for dental professionals eager to refine their practice, boost their operations, and achieve dental wealth. Be sure to visit dentalwealthnation.com for additional resources and strategies to transform your dental practice, and don't forget to book your coaching call with Dr. Kory Wegner to embark on a journey toward unparalleled practice success.

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On this insightful episode of The Dental Wealth Nation Show, host Tim McNeely is joined by digital marketing expert Steven Marinkovich, who brings a wealth of knowledge on attracting the right patients to your dental practice. Dive deep into the world of dental marketing as we uncover the secrets to effectively showcasing your practice online and creating powerful connections with potential patients.

Tim and Steven discuss the evolution of digital marketing strategies within the dental industry, touching on the critical role of SEO and Google Ads for sustainable patient acquisition. With practical advice and compelling examples, Steven lays out his approach to optimizing your practice's online presence and drawing in your ideal demographic.

Learn why video content is becoming increasingly important in online marketing and how different types of videos—ranging from banner background videos to patient testimonials—can enhance your website's appeal and conversion rates. Discover how to craft high-quality visuals that resonate with viewers, evoke an emotional response, and build trust in your services.

Moreover, Steven cautions against the saturated market of digital marketing agencies and highlights the necessity for authenticity, urging dentists to prioritize transparency and measure the effectiveness of their campaigns. He provides actionable tips on integrating analytics with practice management software to maximize return on investment.

The episode also features practical advice on marketing budget allocation. Steven advocates for starting with fixed costs for essentials such as website maintenance, social media, and SEO before moving on to variable ad campaign budgets, dependent on performance for higher traffic.

Steven further shares his experience with "that Bucha," revealing how content creation and personal connections have shaped their marketing successes, offering dentists an analogy with their practice growth methods.

Avoiding common pitfalls is also a major topic, as Tim and Steven outline what to steer clear from when looking to enhance a practice's web presence. With the added bonus of marketing demonstrations and a $25 gift card offer, this episode is packed with substantial value for any dentist aiming to thrive in the digital space and appeal to desirable clientele.

Discussion Questions:

How can dentists best invest in their practices to attract their ideal patients in 2023, according to Steven Marinkovich's expertise?
What specific marketing strategies did Steven suggest for dentists looking to stand out in a crowded digital marketplace?
How can dental practices create content that fosters personal connections with potential patients, similar to the approach Steven uses for his kombucha company?
Steven warns against posting surgical videos to attract patients. What other types of content does he recommend that would be more effective and less intimidating for potential clients?
What are the key components of a high-quality video that evokes an emotional response, according to Steven, and how can this contribute to patient acquisition?
Given the saturation and sometimes false claims by digital marketing agencies, how does Steven propose dentists ensure transparency and accountability when choosing a marketing partner?
Why does Steven Marinkovich emphasize the importance of tracking specific marketing campaigns, and how should dentists tie this data into their practice management software?
SEO is likened to dental maintenance by Steven. Can you delve into how a dental practice should approach SEO to consistently attract new patients over time?
Steven and Tim discuss the effectiveness of different advertising platforms. Can you compare the benefits and drawbacks of using Google Ads versus social media channels like Facebook, TikTok, and Instagram for dental practices?
Considering the four different types of videos suggested for Wealth landing pages, could you describe how each type contributes to patient trust and practice growth?

Tune in to The Dental Wealth Nation Show to gain vital insights that can transform the way you approach patient attraction and online marketing. Reach new heights in 2023 by embracing the power of digital engagement and building an undeniable presence in the dental industry.

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In episode 0082 of The Dental Wealth Nation Show, host Tim McNeely delves into the vital topic of "Wealth Planning for Age 90, 100, and Beyond." Throughout the episode, Tim provides valuable insights and strategies tailored to help dentists and successful individuals plan for a thriving future. The discussion revolves around the challenges and opportunities associated with longevity planning, estate planning, and medical care in the context of an extended lifespan.

Tim sheds light on the integration of wealth management and longevity planning, emphasizing the essential considerations for successful families, and the rising significance of concierge and specialized medical care. Moreover, he underscores the impact of extended lifespan on estate planning, urging listeners to contemplate the implications of transferring assets to subsequent generations and the necessity of foresightedness in navigating potential family and business consequences.

The episode further emphasizes the importance of seeking guidance from an elite wealth manager who is well-versed in longevity planning. Tim urges listeners to stress test their plans and seek a second opinion to ensure the effectiveness of their wealth management strategies. As the discussion unfolds, he highlights the need to address rising healthcare costs, asset management considerations in the face of extended life expectancy, and the significance of leaving a meaningful legacy.

Throughout the episode, Tim McNeely's insights and recommendations provide practical and actionable guidance for dentists and high-net-worth individuals, anchoring the conversation in the context of real-world challenges and opportunities. Listeners are equipped with valuable insights to navigate the complexities of wealth planning for an extended lifespan, demonstrating how strategic decisions today can pave the way for a flourishing future.

Discussion Questions:

How do successful individuals and families approach wealth planning for their future, specifically in their later years?
How are concierge and specialized medical care becoming increasingly integrated into wealth and longevity planning for affluent families?
What potential financial impact can significant and costly medical treatments have on a family's wealth, and how can this be mitigated through proper planning?
In what ways does living past the age of 100 impact estate planning and the transfer of assets to subsequent generations?
What are some potential risks of working with wealth managers who are not well-versed in longevity planning, and how can one identify these "pretender" advisors?
How important is it for individuals to stress test their wealth plans, and what steps can they take to ensure their plans will deliver as expected?
What are some considerations for rising healthcare costs and state-of-the-art treatments, especially when planning for living past the age of 100?
How can individuals ensure that they are leaving the legacy they desire for their loved ones through proper wealth and longevity planning?
What are the key factors to consider when deciding how and when to transfer assets to subsequent generations, especially for business owners expecting to live past 100 years old?
In what ways can individuals thrive in the midst of an uncertain world by working with elite wealth managers knowledgeable about longevity planning?

Keywords: Wealth Planning, Longevity Planning, Estate Planning, Wealth Management, Concierge Medical Care, Specialized Medical Care, Asset Transfer, Healthcare Costs, Legacy Planning, Wealth Manager, High-Net-Worth Individuals, Dentists, Financial Strategies, Succession Planning.

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In this captivating episode of The Dental Wealth Nation Show, host Tim McNeely welcomes renowned guest Martin Mendelson for an in-depth exploration of the transformative power of optimism in dental practice management. Together, they delve into how a positive mindset can dramatically improve communication, production, and team dynamics within the dental industry.

Martin Mendelson, equipped with a wealth of experience in overcoming adversity in his own dental career, shares his inspirational journey towards an optimistic outlook. He and Tim discuss actionable strategies that dental professionals can use to foster gratitude and positivity in both their personal and professional lives. This conversation uncovers how narrative creation and cognitive behavioral therapy can reshape your thinking, boosting your resilience and ability to handle day-to-day challenges in the dental field.

Listeners will discover the profound impact that gratitude can have on brain function, including startling scientific evidence and real-life examples of how happiness enhances cognitive processes. Martin provides insights into combating the higher incidence of anxiety and depression faced by dental practitioners, emphasizing the need for an emotional and communication alliance within the team. By focusing on TEAM – thoughts, emotions, actions, manifestations – Martin decodes the cycle that leads to positive outcomes.

The episode also pinpoints the dangers of toxic positivity, advocating for a balanced approach that honors all emotions while maintaining an overall positive worldview. Tim and Martin outline the benefits of leveraging community support, practicing dental dualism, and the various aspects of positive psychology that can be integrated into daily dental practice.

For listeners looking to implement these concepts, Martin discusses avenues for further engagement, such as individual coaching, team workshops, and opportunities to hear him speak at events. The conversation wraps up with a powerful message on the significance of being present and choosing positivity every step of the way.

Tune in to The Dental Wealth Nation Show, where Tim McNeely and guest Martin Mendelson empower you with the wisdom to transform your dental practice through optimism, gratitude, and effective communication strategies. Whether you're a dentist, a dental team member, or simply someone passionate about personal development, this episode is a must-listen for those seeking to cultivate a wealth of wellness in their lives.

Discussion Questions:1. How does Martin Mendelson define optimism, and why does he consider it crucial in the dental profession? 2. Can you share an instance from your practice where a shift towards positivity altered the outcome of a patient's experience or team dynamics? 3. Martin talks about the impact of gratitude on our perspective. How do you think an attitude of gratitude can specifically benefit dental practices and patient care? 4. How do negative thought patterns affect team cohesion and productivity in a dental office setting?
In the episode, Martin mentions the concept of dental dualism. 5. How do you balance the importance of both interpersonal skills and clinical proficiency in your practice? 6. Can you discuss the TEAM model in more depth? How can this model be applied daily by dental professionals to enhance their practice? 7. Martin warns against toxic positivity. How can dental practitioners ensure they maintain a balance between positivity and realism when dealing with their patients and teams? 8. How can dental professionals leverage the alliance framework to address the higher incidence of anxiety and depression within the profession? 9. Discuss the potential long-term impacts of adopting Martin Mendelson's strategies on the overall health and success of dental practices. 10. Finally, reflecting on the episode, what are some concrete steps that listeners can take to start incorporating optimism and positivity into their professional lives starting today?

Keywords: Dental Wealth Nation, Tim McNeely, Martin Mendelson, dental practice management, optimism, positive mindset, dental communication, team cohesion, dental industry, adversity, gratitude, cognitive behavioral therapy, brain function, anxiety, depression, dental professional, positive psychology, team workshops, keynote speaking, personal development.

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Welcome to The Dental Wealth Nation Show with your host, Tim McNeely! In this episode, Tim is joined by guest David Kingsdale, the founder of King’s Ransom, an investment and advisory firm specializing in buying and selling companies. Together, they delve into the essential topic of "How to choose the right and most effective advisor when selling your practice."

David Kingsdale shares valuable insights into the challenges of selling smaller dental practices to Dental Service Organizations (DSOs), emphasizing the significance of bigger DSOs in the market. He highlights the need for dentists to find the right advisors to protect their wealth after financial transactions, emphasizing the importance of early planning for dentists, especially those approaching late fifties or early sixties.

The episode illuminates the necessity of a holistic plan for the future when advising entrepreneurs on selling their businesses. Kingsdale and his team have a passion for helping dentists sell their businesses, acknowledging the emotional component involved in selling their first business.

Throughout the conversation, they emphasize the importance of exit planning for dental practices, the common misconception among dentists regarding the true value of their practices, and the significance of protecting staff and the practice's family-like atmosphere during the sale process.

Join Tim McNeely and David Kingsdale in this insightful episode as they uncover the factors dentists should consider when thinking about exiting dentistry, the benefits and downsides of selling to a DSO, and the strategies for increasing practice valuation. With a focus on providing advice to dentists on maximizing net worth and preparing for their financial future, The Dental Wealth Nation Show offers invaluable information and strategies for dentists looking to make informed decisions about selling their practice.

Keywords: Dental Wealth Nation Show, Tim McNeely, David Kingsdale, selling a dental practice, Dental Service Organizations, exit planning, practice valuation, financial planning, advisor selection, entrepreneur advice, wealth protection, DSO transactions, private equity, practice sale strategies.

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Welcome to another insightful episode of The Dental Wealth Nation Show with your host Tim McNeely! In Episode 0114, "The Stress Free Dentist with Eric Block," we delve into the essential strategies for thriving in the dental profession while maintaining a stress-free practice. Dr. Eric Block joins the show to share his invaluable insights on navigating the often-overlooked mental and emotional challenges in the dental industry.

If you're a dentist seeking to maximize your net worth and build a sustainable, stress-free practice, this episode is a must-listen. Dr. Block and Tim McNeely engage in a candid discussion about overcoming burnout, anxiety, and stress in the dental profession, shedding light on the often-unspoken challenges that many dentists face.

Throughout the episode, Dr. Block emphasizes the need for self-care, mental wellness, and the importance of seeking help when feeling overwhelmed. Whether you're a seasoned professional or a young dentist just starting your career, the advice and strategies shared in this episode are sure to provide invaluable guidance for navigating the demands of the dental industry while prioritizing well-being.

Join Tim McNeely and special guest Dr. Eric Block as they unravel the keys to a stress-free and fulfilling dental practice. Tune in for practical wisdom, personal anecdotes, and actionable advice that aims to revolutionize the way dentists approach their profession. Be sure to visit the website dentalwealthnation.com for more resources to enhance your dental practice and maximize your financial well-being.

This episode touches on crucial topics such as mental health, burnout, practice management, and self-care within the dental profession. Whether you're in search of game-changing insights for your dental practice, or seeking to support your well-being in a high-pressure environment, "The Stress Free Dentist with Eric Block" promises to deliver the hidden advice and strategies you need.

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Welcome to The Dental Wealth Nation Show with Tim McNeely. In this episode, our guest, cybersecurity expert Amy Wood, sheds light on the critical need for safeguarding your dental practice assets in an era of evolving cyber threats. As dentists seek to protect their net worth and assets, the importance of cybersecurity in preventing data breaches and cyberattacks cannot be overstated.

Amy Wood, drawing from her personal experience with cybercrime and dental data theft, offers valuable insights into protecting patient information and practice operations. Her expertise in navigating cybersecurity challenges, including the rising prevalence of state-sponsored hacking rings and ransomware attacks, provides practical guidance for dental practices to fortify their defenses against malicious threats.

In this episode, Tim and Amy tackle common misconceptions around cybersecurity measures, the significance of vetting IT providers and maintaining HIPAA compliance, and the strategic use of cyber liability insurance. By breaking down complex cybersecurity strategies into manageable steps, Amy emphasizes the proactive approach dental practices can take to mitigate risks and enhance data security.

They delve into the impact of cybersecurity incidents, from financial implications to patient care continuity, highlighting the necessity of a robust incident response plan. With the emergence of artificial intelligence in dental practices, the need for thorough vetting and ongoing staff training becomes even more crucial in safeguarding sensitive patient data.

As the conversation unfolds, Amy's comprehensive approach to risk management and the implications of neglecting cybersecurity measures offers a roadmap for dental practices to proactively build a secure and resilient IT infrastructure.

Tune in to The Dental Wealth Nation Show to gain actionable insights from Amy Wood on protecting your dental practice from cyber threats to ensure the longevity and financial security of your practice.

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Welcome to The Dental Wealth Nation Show with Tim McNeely, where we delve into the world of financial wellness and retirement planning for small business owners and their employees. In this episode, we have the pleasure of hosting Daniel Beck, co-founder of 401 GO, a revolutionary 401(k) platform designed for modern businesses.

As we explore the complexities of retirement planning, tax control, and the responsibilities of sponsoring a retirement plan, we aim to provide a deeper understanding of running a successful retirement plan while highlighting the importance of taking action for the future and the well-being of loved ones and employees.

With a focus on making retirement plans more accessible to small business owners and empowering individuals just starting out in their careers, our guest Daniel Beck shares insights from his experience as a serial entrepreneur, addressing the challenges he faced with retirement planning and his commitment to providing financial assistance to employees.

The episode also delves into the intricacies of setting up a 401(k) plan, the benefits of auto-enrollment for employees, and the new federal regulations making 401(k)s more accessible for small businesses and employees, including the establishment of an emergency savings account within a 401(k).

Delivering expert insights into the evolving landscape of retirement planning, Daniel Beck and host Tim McNeely explore the innovative solutions and simplified approaches to 401(k) administration, touching on the digital age of retirement planning and the importance of streamlined processes for small business owners.

With engaging discussions around automation, technology, and the responsibilities of retirement plan sponsors, this episode of The Dental Wealth Nation Show offers valuable perspectives for both small business owners and employees navigating the realm of retirement planning.

Tune in to gain essential knowledge and actionable advice on securing your financial future and providing support for your employees through savvy retirement planning strategies.

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Welcome to another enlightening episode of The Dental Wealth Nation Show with your host, Tim McNeely! In this inspiring segment, Tim McNeely welcomes the accomplished entrepreneur and expert in creating remarkable customer experiences, Ryan Vet. Together, they delve into the essential practices for "Creating Experiences Worth Sharing."

Throughout this episode, the discussion centers on the significance of paying attention to patient experiences in dental practices. They spotlight the often-overlooked details that can significantly impact a patient's perception of a practice.

From the ambiance and cleanliness of the environment to the small, simple changes that can enhance efficiency and reduce costs, no stone is left unturned in this comprehensive exploration.

Ryan Vet brings his knowledge and experience in marketing, branding, and operations to the forefront, offering valuable insights applicable across various industries, including the dental field. The dynamic conversation also addresses the evolving preferences of different generations regarding healthcare experiences and the role of technology in shaping these experiences.

As the host of Dental Wealth Nation, Tim McNeely effectively guides the dialogue, ensuring listeners gain actionable strategies and a fresh perspective on creating exceptional patient experiences in their dental practices. By focusing on the intricate details, fostering team satisfaction, and recognizing the uniqueness of every individual's story, they pave the way for dental professionals to elevate their practices to unprecedented levels of success.

This episode provides impactful insights for dental professionals and is a valuable resource for entrepreneurs, business owners, and managers seeking to enhance customer experiences in any industry. Join Tim McNeely and Ryan Vet as they uncover the hidden advice and strategies that can transform ordinary experiences into extraordinary ones, leaving a lasting impression on customers and team members.

Tune in to this enriching episode of The Dental Wealth Nation Show to gain a fresh perspective on creating exceptional customer experiences and unlock the secrets to cultivating a prosperous and fulfilling professional journey.

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Welcome to another insightful episode of The Dental Wealth Nation Show with your host, Tim McNeely. In this episode, Tim is joined by dental consulting expert Al Galvis to discuss the pivotal question: "Does Dental Consulting Work?"

Al Galvis, the founder of ThinkDental, brings over 14 years of extensive experience in dental consulting, specializing in aiding dentists with diverse dimensions of their practices. Throughout the engaging conversation, Al Galvis places emphasis on the opportunities available to dentists as business owners, encouraging them to visit thinkdental.net to benefit from his comprehensive advice and support.

The discourse delves deeply into the necessity for dentists to have a trusted advisor, emphasizing the pivotal role that trusted advisors play in guiding dentists towards maximizing their net worth. Al Galvis highlights the three pillars of success: positively impacting people, bringing the A-game, and the importance of working hard while enjoying the journey in dentistry.

The episode spotlights the significance of mindset in dentistry, particularly in overcoming common barriers and challenges, including the impact of COVID-19. Al Galvis focuses on the importance of shifting from a scarcity mindset to an abundance mindset, showcasing how cultivating gratitude and positivity can positively impact both staff and patients.

Throughout the episode, the conversation underscores the entrepreneurial nature of the dental profession, and the critical role that trusted advisors play in assisting dentists during transitions, mindset shifts, and overall success. Listeners are encouraged to cultivate an abundance mindset and surround themselves with like-minded individuals for guidance and support.

Join Tim McNeely and Al Galvis in this enriching episode as they delve into the intricacies of dental consulting, the need for specialized advice, and the pivotal role of a trusted advisor in achieving success in the dental industry. Tune in for practical insights and actionable strategies to elevate your dental practice on The Dental Wealth Nation Show.

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Join host Tim McNeely on The Dental Wealth Nation Show as he delves into the insightful conversation with Dr. Laura Brenner in Episode 0110: "Design Your Life and Career on Your Terms with Laura Brenner." In this episode, the keyword "design your life" takes center stage as Dr. Brenner shares her powerful insights on reshaping careers and finding fulfillment within the dental industry and beyond.

Throughout the episode, the keyword "career fulfillment" emerges as a recurring theme, as Dr. Laura Brenner emphasizes the importance of recognizing the difference between a job and a career. She encourages listeners to determine their own paths, paving the way for them to "find joy and satisfaction in their work."

Listeners are treated to a deeply personal journey as Dr. Brenner uncovers her experiences of grappling with burnout, career dissatisfaction, and difficult internal conflicts, often associated with the keywords "career burnout" and "career transitions." Her subsequent pivot to create a weight loss coaching business as a side gig while still working as a dentist highlights the potential for "side gigs in dentistry" to provide both balance and income, making it a crucial keyword in this episode.

The episode sheds light on the process of gradually reducing dentistry work, providing a guide to the "developmental phase between current career and starting a side gig or finding a different job."

Throughout the show, the critical topic of "burnout" is addressed head-on, with the emphasis on recognizing different types of burnout, seeking help through therapy and coaching, and creating awareness for positive change. The keywords "career coaching" and "mindset shifts" become essential as Dr. Brenner and Tim McNeely discuss actionable steps to realign careers and change mindsets for better outcomes.

With a focus on empowerment, Dr. Brenner shares valuable advice on creating healthy boundaries, taking care of oneself, and embracing the journey of self-discovery and fulfillment. Additionally, the exploration of nonclinical career options and the importance of networking can help dentists find alternative job opportunities, making "alternative careers in dentistry" a key topic.

The Dental Wealth Nation Show provides an engaging platform for dentists to maximize their net worth, create fulfilling lives, and discover new opportunities within and beyond the dental field. Dr. Laura Brenner's episode serves not only as an inspirational testimony but as a guide for finding purpose and aligning one's career on their own terms. The episode also provides insights into upcoming events, like "Safari and Side Gigs," demonstrating the show's commitment to offering actionable strategies and opportunities for growth.

The candid and insightful conversation between Tim McNeely and Dr. Laura Brenner promises to be a compelling source of inspiration, advice, and actionable steps for the dental community. As they discuss future collaborations and chart new paths for The Dental Wealth Nation Show, the episode serves as a beacon of hope and empowerment for dentists seeking to build fulfilling careers and lives on their own terms.

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Welcome to The Dental Wealth Nation Show with your host, Tim McNeely! In this episode titled "Healers vs. Stealers: Protecting Yourself from Employee Theft in Dentistry," Tim McNeely is joined by expert guest David Harris to delve into the critical topic of safeguarding dental practices against employee theft.

Throughout the episode, Tim and David Harris tackle the emotional and financial impact of embezzlement in dentistry, providing valuable insights for dentists. They discuss the prevalence of embezzlement, debunk common misconceptions, and highlight the signs and behavioral indicators of potential embezzlement.

Additionally, they emphasize the importance of proactive measures to prevent and combat theft in dental practices, including the role of trusting but verifying, pre-employment screening, and good financial oversight.
David Harris shares real-life experiences, offering a deep understanding of the motivations behind employee theft and advice on protecting dental practices from financial losses. The episode also delves into the role of dentists in overseeing financial activities, with a focus on the transition from manual systems to practice management software and the importance of monthly reporting and articulation.

Listeners can gain valuable knowledge from David Harris's expertise as he provides practical and actionable advice for protecting dental practices from theft. From debunking myths about embezzlement to emphasizing the need for prevention over cure, this episode equips dentists with essential insights into safeguarding their practices and hard-earned assets.

Tune in to The Dental Wealth Nation Show with Tim McNeely and guest David Harris as they provide invaluable guidance on protecting dental practices from employee theft, empowering dentists to navigate the complexities of wealth management in dentistry.

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Welcome to The Dental Wealth Nation Show with host Tim McNeely, where the latest advancements in dental technology and practice management are explored to help dentists maximize their net worth and elevate their practices. In this episode, Tim McNeely is joined by Eric Weeden, VP of sales at TrueLark, to delve into the groundbreaking impact of AI technology in dental practice operations. The conversation centers around how TrueLark AI not only increases revenue but also significantly lowers overhead for DSOs (Dental Service Organizations).

Eric Weeden provides insight into the transformative capabilities of TrueLark's AI communication platform, which offers tailored and empathetic responses to patient inquiries, streamlines appointment scheduling, and enhances the overall patient experience. They discuss the specific benefits of AI in dental practices, emphasizing its ability to handle transactions, reduce staffing costs, and improve operational efficiency.

Throughout the episode, Tim and Eric underscore the potential revenue lift and competitive advantage that TrueLark AI brings to single and multi-location practices, along with the substantial impact it has on new patient revenue. Listeners gain valuable insights into the power of integrating AI into practice management systems, AI-driven lead conversion for marketing promotions, and the long-term financial advantages of implementing TrueLark AI. For dentists seeking to unlock the full potential of AI in their practices, this episode offers a comprehensive exploration of how AI technology can optimize revenue and operational efficiency while enhancing the patient experience.

Keywords: Dental Wealth Nation Show, Tim McNeely, Eric Weeden, TrueLark AI, dental technology, practice management, increased revenue, lower overhead, DSOs, AI communication platform, patient experience, appointment scheduling, operational efficiency, practice management systems, lead conversion, new patient revenue, dental practices, AI technology.

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🎧🦷 Welcome to The Dental Wealth Nation Show! 🎉💰

In this episode, titled "The Opportunity I Wish I Had Recognized 15 Years Ago," join our host, Tim McNeely, as he welcomes David Whitlock to discuss the hidden gem of rural dentistry. 🌾🏥

🌟 Discover why more and more dentists are considering practicing in small towns, where the cost of living is lower and the quality of life is higher. 💼💤

💡 Dave Whitlock, with his vast experience in dentistry in different settings and states, shares his personal journey from the hustle and bustle of big cities to the peaceful yet fruitful world of rural dentistry. 🌆🍎

📚 He unveils the financial advantages, the sense of community, and the work-life balance that await dentists who choose rural opportunities. 🙌💼

🌟 Listen as he recounts stories of dentists who found their calling in rural areas, thanks to his guidance and the website he launched, ruralpractices.com. 🌐📲

😩🥵 Gone are the days of burnout and the rat race of running a practice. Discover the benefits of embracing a slower pace and a closer connection with patients and the community. 🤝🏠

🌟 Tune in as Tim McNeely and David Whitlock delve into the joys and challenges of rural dentistry, dispelling common misconceptions and exploring the financial rewards and patient satisfaction that come with practicing in small towns. 💰👩‍⚕️

🎉 Don't miss out on this eye-opening episode of The Dental Wealth Nation Show, where we empower dentists to build true wealth and find the fulfillment they deserve. 🎧💪

🔎 Keywords: dental wealth, rural dentistry, small towns, quality of life, work-life balance, lower cost of living, financial benefits, community involvement, patient satisfaction, avoid burnout, dentist empowerment.

❓ Questions:

Have you ever considered practicing dentistry in a rural area? If not, what were some of the reasons that held you back?
What factors do you think contribute to burnout in dentistry, especially in heavily populated areas?
How important do you think work-life balance is for dentists? In what ways do you prioritize this in your own practice?
Do you believe that the financial benefits of practicing in a rural area outweigh the potential drawbacks? Why or why not?
Have you ever experienced challenges with marketing and attracting patients in your practice? How do you overcome these challenges?
How important do you think community involvement and sponsorship are for dentists in a rural area? Do you actively engage with your local community?
What are some potential misconceptions about rural dentistry that you have encountered in your career? How have you addressed these misconceptions?
Do you agree with David Whitlock's perspective on the dental industry and the increased student debt burden for new graduates? How do you think this impacts the future of dentistry?
If you were to start your dental career over again, would you consider exploring a rural opportunity? Why or why not?
How would you define "wealth" in dentistry? Do you believe that financial success is the most important measure of wealth, or are there other factors to consider?

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🎙️ Looking to maximize your net worth and create a comprehensive exit plan for your dental practice? Join us on The Dental Wealth Nation Show with host Tim McNeely as we reveal hidden advice and strategies used by successful dental entrepreneurs. 💼💰

In this episode titled "The Ultimate Guide to Comprehensive Exit Planning for Dental Entrepreneurs," we discuss why comprehensive exit planning matters for driven dental entrepreneurs and how it can help you maximize your personal net worth and protect your wealth. 📈💼

Discover the importance of addressing both corporate exit planning and elite wealth planning to ensure a successful transition from your dental practice. Learn how to minimize taxes, protect your assets, and strategically sell your business for the maximum value. 👥💼💸

Gain valuable insights, strategies, and advice that will not only benefit you during the sale but also post-sale, allowing you to take better care of your loved ones, support causes you care about, and make a lasting impact in the world. 🌍💙

Don't miss out on this ultimate guide to comprehensive exit planning for dental entrepreneurs. Tune in now to The Dental Wealth Nation Show! 💼🎧💡

Questions:

How does comprehensive exit planning differ from traditional methods of selling a dental practice?
Why is it important for dental entrepreneurs to consider their personal goals and objectives when planning for an exit?
What are some potential challenges or obstacles that dental entrepreneurs may face during the process of selling their practice?
How does elite wealth planning differ from corporate exit planning?
Why is it important to start the exit planning process well in advance of actually selling the practice?
What are some strategies or techniques that can be used to increase the value of a dental practice before selling?
What factors should be considered when deciding when to sell a dental practice?
How can the human element, as mentioned in elite wealth planning, impact the overall success of an exit plan?
What role does marketing play in selling a dental practice, and how can it impact the sale price?
What are some common mistakes or misconceptions that dental entrepreneurs make when selling their practice, and how can they be avoided?

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🎙️ Welcome to The Dental Wealth Nation Show with Chad Widensky! In this episode, we dive into "How to Provide Impeccable Service While Maintaining Your Bottom Line." 🦷💰

Join our host, Tim McNeely, as he sits down with Chad Widensky, a financial expert and founder of a leading dental finance company. Discover the secrets to finding great lenders and underwriters in the dental industry and how they can help you navigate the process of buying or expanding your dental practice. 💼

Chad emphasizes the importance of working with industry-focused professionals who have access to a network of contractors, attorneys, and other necessary individuals. 🤝💼

Explore a holistic approach to banking, including mortgage options and other services that can evolve with your personal needs as your net worth increases. 💼💰

🔍 Dive into the world of dental banking and learn about high-yield savings accounts, credit card processing, and the exclusive Provide Card that offers cashback rewards for your supply and lab purchases.

Discover the crucial factors to consider when applying for loans and mortgages, such as understanding the loan terms, the speed of communication with underwriters, and the importance of timing to seize financial opportunities. 💸💼

Learn from success stories of doctors who have partnered with the right lenders, allowing them to expand their practices, own multiple offices, and focus on the business side of dentistry. 🎯📈

🔎 Stay ahead of the curve in the evolving dental industry by tapping into the expertise of industry veterans, finding the best reps and consultants, and ensuring you get the right fees.

Whether you're a dental practice owner, looking to start your own practice, or interested in the business side of dentistry, this episode provides valuable insights and resources to help you achieve your practice ownership goals. 🎧🏢

Tune in now to The Dental Wealth Nation Show and tap into the wealth of knowledge and resources to take your dental practice to new heights! 🎙️✨

Questions:
1. How important is it for dentists to work with lenders and underwriters who have experience in the dental industry?
2. What are the benefits of working with a lender who can provide access to a network of industry professionals such as dental attorneys and experienced brokers?
3. How can working with a banking partner who understands the time constraints of doctors improve the process of buying a practice or starting/expanding a dental office?
4. In what ways can a comprehensive banking package, including mortgage options and other services, benefit dentists as their net worth increases and their personal needs evolve?
5. What factors should dentists consider when choosing a lender or banking partner for their practice, beyond just the terms of the loan itself?
6. How can credit cards with specific benefits for certain professions, such as the Provide Card mentioned in the episode, help lower expenses and increase savings for dental professionals?
7. What questions should dentists ask lenders regarding the application process, required documentation, and the speed of communication with the underwriter?
8. How does the efficiency of closing loans impact the financial opportunities and income potential for dentists?
9. What role does networking and recommendations from other doctors play in the decision-making process when choosing a lender or banking partner?
10. How can working with a banking partner who offers additional services, such as assistance with insurance, finding consultants, and ensuring proper fees, contribute to the success and enjoyment of practice ownership for dentists?

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Welcome to The Dental Wealth Nation Show, where we delve into the world of dental practices, referral partnerships, and effective networking strategies on LinkedIn. Join our host, Tim McNeely, as he sits down with Tracy Enos, an expert in leveraging LinkedIn profiles to attract ideal referral partners.

In this episode, Tracy Enos uncovers the secrets to creating a compelling LinkedIn profile that captivates your audience and maximizes opportunities. Discover the power of the acronym "GREAT" - Human, Volunteer work, Organizations, Honors, Licenses, Skills, and Projects - as Tracy guides you through each section to help you stand out from the crowd.

With valuable insights, Tracy dispels the myth that people overlook these additional sections of a profile, sharing that 70% of profile viewers are genuinely interested in getting to know the person behind the profile. Explore how the LinkedIn inbox and outreach mirror traditional networking, as Tracy reveals the changing landscape of LinkedIn from a formal platform to a more casual and engaging space.

Learn practical techniques for making connections feel comfortable without relentlessly self-promoting. Discover the importance of pattern interrupts and tailored questions to initiate meaningful conversations. Uncover the true desires of LinkedIn users who value authentic interactions over direct sales pitches.

Unlock the potential of LinkedIn as we discuss building a referral network, creating engaging content, and establishing authority through your profile. Tracy emphasizes the significance of consistently posting engaging content and involving your office in sharing from the company page. Dive into strategies for showcasing your company culture, highlighting employees and customers, and ensuring your posts reflect your expertise.

Throughout the episode, Tracy Enos provides impactful insights on building trust, optimizing your LinkedIn profile, and leveraging the platform's features like LinkedIn Lives and events. Discover the benefits of connecting with referral partners, reaching out to local networking groups, and effectively utilizing LinkedIn's Advanced Strategies.

If you're a dental practice looking to attract more patients through referral partners, this episode of The Dental Wealth Nation Show is a must-listen. Tracy's expert guidance and actionable advice will help you transform your LinkedIn profile into a powerful tool for success.

Questions
1. How can filling out your personal profile on LinkedIn help maximize opportunities for your dental practice?
2. How important is it to showcase different sections of your profile, such as volunteer work, organizations supported, and licenses?
3. Do you agree with the speaker's assertion that 70% of profile viewers are interested in getting to know the person behind the profile? Why or why not?
4. How can you make connections feel comfortable on LinkedIn without forcefully promoting yourself?
5. What are some effective pattern interrupts you can use to stand out from other LinkedIn users?
6. How can researching a person's profile, website, or social media platforms help you initiate a targeted conversation on LinkedIn?
7. What are some strategies for creating engaging content on LinkedIn to attract potential referral partners?
8. How can you establish authority in your LinkedIn profile, and why is this important for attracting referral partners?
9. How can you use the interest section on LinkedIn to organically show up in search results and attract potential referral partners?
10. Why is it crucial to provide great care and results to clients, friends, or customers referred by others on LinkedIn?

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🎙️ Looking to maximize your wealth as a dental entrepreneur? Join host Tim McNeely on The Dental Wealth Nation Show as he pulls back the curtain to reveal hidden advice and strategies used by today's most successful individuals and families. 🦷💰

In this episode, Tim discusses the importance of stress testing your wealth plans and how it can help you avoid costly errors while taking advantage of all possible opportunities. Discover why stress testing is crucial for dental entrepreneurs and how it can shift your approach to wealth management from a piecemeal to a comprehensive strategy. 💡

Tim shares insights on the regular stress testing habits of the super-rich and why you should consider implementing it in your own financial planning. Learn the right time to start stress testing, whether you're unsure about your current strategies, preparing for major life changes, or seeking to improve your overall financial situation. 📈

With practical examples and step-by-step guidance, Tim reveals how to get the most out of a stress test and highlights the importance of working with professionals who understand the human element in wealth management. Whether you're a seasoned dental entrepreneur or just starting out, this episode will equip you with the knowledge and tools to stress test your way to financial success. 💯

Keywords: dental entrepreneur, wealth plans, stress testing, comprehensive strategy, financial planning, super-rich, strategies, opportunities, avoid errors, life changes, maximize wealth, financial success.

Discussion Questions:
1. Why should dental entrepreneurs stress test their wealth plans?
2. How does stress testing move from a piecemeal to a comprehensive strategy?
3. What benefits can be obtained by stress testing specific parts of your wealth plan?
4. When is the right time to consider stress testing? Can you give some examples?
5. What steps can dental entrepreneurs take when stress testing their wealth plans?
6. How can stress testing help identify potential errors or areas for improvement?

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🎙️ The Dental Wealth Nation Show with Darren Hulstine 🦷 Prepare Now for a Profitable and Comfortable Exit from Your Practice! 💰💼 Are you a dentist looking to maximize your profit and ensure a smooth transition when selling your dental practice? Look no further! Join host Tim McNeely and guest Darren Hulstine, a top performer in the dental industry, as they dive into how to prepare your practice for a profitable exit in Episode 0093 of The Dental Wealth Nation Show. 🎉

Discover insider tips on how to overcome challenges faced by midsize dental practices, find buyers for lower revenue practices, and maintain the value of your practice. 🏢💵

Learn how to clean up your finances, update your equipment, and create a strong team to attract potential buyers. Also, gain insights into valuation methods, including using a weighted average approach and understanding seller's discretionary earnings. 💡💼

Explore the benefits of hiring a broker to reduce stress and save time during the selling process. Plus, get expert advice on consulting with advisors and putting together a comprehensive plan for a successful transition. 🔑💼

Don't miss out on this valuable episode of The Dental Wealth Nation Show where you'll gain the knowledge, tools, and resources to exit your dental practice profitably. Tune in now! 🎧💼🦷

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🦷📈 The Dental Wealth Nation Show: Elevating Patient Care and Practice Synergy 🎙️💰 Join us as we dive into the world of dentistry with our host Tim McNeely and special guest Ella Mullokandova! 🎧 In this episode, we explore the importance of elevating patient care and practice synergy to achieve success in the dental industry. 📈

Discover the "maturity model" 🏆 and why it's crucial for the growth and health of your dental practice! 🌟🦷 Explore the different levels, from chaos to improvement, and learn how to transform your practice step-by-step. 📋

We'll discuss strategies for optimizing the patient life cycle 🔄, enhancing customer experience, and turning lifelong customers into brand ambassadors who refer others. 😃🗣️ Explore the key touch points and learn how to measure success to ensure a seamless patient experience at every stage. ⭐

Ella shares valuable insights on creating strong team synergy and the importance of a restorative dental partnership. 💪💯 Discover how trust-based relationships and a united team can lead to exceptional customer experiences and higher revenue potential! 💵

The conversation also covers the importance of having a clear vision for your practice, partnering with experts, and the impact of effective marketing strategies. 💡🤝📣

Whether you're a dentist, dental professional, or dental enthusiast, this episode of The Dental Wealth Nation Show will provide you with actionable tips, inspiring stories, and expert guidance to help you take your practice to the next level! 😁🎉

💡 Speaker bio

Ella Mullokandova is a dedicated dental hygienist with over 20 years of experience in the field. Throughout her career, she has developed a deep passion for both the science behind dentistry and the opportunity to help people improve their oral health. Recognizing the disconnect and challenges faced by dental professionals, Ella co-founded Converge Dental, a company aimed at simplifying and streamlining practice operations.

Having worked closely with doctors to build successful practices, Ella understands the burden and burnout experienced by both practitioners and their team members. With Converge Dental, she seeks to alleviate these challenges by providing comprehensive solutions that allow doctors to focus on their true passion, dentistry. By taking care of practice management and team leadership, Converge Dental empowers doctors to create thriving practices that prioritize patient care.

Ella Mullokandova's expertise and dedication to improving the dental profession make her a valuable asset in the field. Her efforts with Converge Dental demonstrate her commitment to making a positive impact on dental practices worldwide.

🧞‍♂️ Discussion questions 1. How can implementing the maturity model help improve the health of a dental practice? 2. What are the key steps in the practice transformation process outlined in the episode? 3. How can understanding the patient life cycle and optimizing touch points improve patient experience and retention? 4. How can leaders effectively communicate the vision, mission, and core values of a dental practice to their team? 5. What roles can personality tests play in understanding and empowering team members in a dental practice? 6. What are the benefits of restorative dental partnerships, and how can they contribute to exceptional customer experience? 7. How can broken systems or poor patient interactions lead to lost revenue potential in a dental practice? 8. What strategies can dental practices employ to cultivate a strong team and positive patient experience? 9. Why is it important for dental practices to have a clear vision and partner with the right experts to achieve success? 10. How can dental practices educate patients about insurance coverage and encourage them to pay out of pocket for certain procedures?

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🎙👥 Welcome to "The Dental Wealth Nation Show" - the ultimate show dedicated to helping dental professionals build their brand and create wealth in the industry! In this episode, we dive into the fascinating world of personal branding with our special guest, Sara Ruberg, a renowned expert in the field. 🦷💰

Get ready to discover the secrets to building an authentic personal brand that resonates with your target audience. 🌟👨‍⚕️ Whether you're a dentist, dental marketer, or part of a dental service organization (DSO), this episode is packed with valuable insights and actionable strategies to stand out in the crowded dental industry and attract your ideal clients and customers.

🌟 Learn how Sara's journey from aspiring actress to dental marketing expert led her to fall in love with the dental industry and become a personal branding guru. Discover how she helps dental professionals leverage social media and free networking to deploy their personal brand. 💪💻

🌟 Hear about the power of showcasing your personal brand through your actions, values, and passions. Discover how to identify your personal brand by asking the right questions and seeking insights from close friends and family. 🗣🤔

🌟 Explore the importance of corporate branding in the DSO industry and how aligning your personal brand with your organization's values can benefit both you and the company. 🏢💼

🌟 For introverts, fear not! Sara empathizes with the struggle of self-promotion and provides guidance on how to build your personal brand in a way that feels comfortable and authentic. 😌🔐

Join us on "The Dental Wealth Nation Show" as we uncover the secrets to building a powerful personal brand in the dental industry. Get ready to grow your network, attract new opportunities, and achieve dental wealth. 🦷💰✨

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🎙️ Are you a dentist wondering whether to build or buy a practice? Join the Dental Wealth Nation Show with Al Galvis as he tackles this important question and provides valuable insights for dentists looking to take their career to the next level. In this episode, Al discusses the pros and cons of building a practice from scratch or buying an existing one. 🏢💼💵

From inheriting a reputation and patient base 👥👥 to dealing with staff dynamics and the challenges of implementing change, Al shares his expertise on navigating the world of dental practice ownership. He offers a roadmap for success, emphasizing the importance of the right mindset and surrounding yourself with the right people. 🌟💪

Discover the secrets to finding clarity in your career goals and gaining the necessary support to thrive in your dental practice. 📈💡💼 Al's mission is to partner with you on your journey to live an incredible life and have an incredible business, so tune in and start building your dental wealth today! 🎧🦷💰

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🎙️ Welcome to another insightful episode of The Dental Wealth Nation Show, where we explore the intriguing realm of Dental Mergers and Acquisitions (M&A). In this episode, we're joined by Kevin Cumbus, President of Tusk Partners, a veteran dental broker with over a decade of experience navigating the dental industry.

Kevin imparts his wisdom on the progression of dental practice values, the catalysts propelling these increasing values, and the significance of discerning the optimal time to sell your dental enterprise. He also offers indispensable advice on selecting the right partner, structuring the deal for maximum gain, and how to sidestep being exploited by Dental Service Organizations (DSOs).

With the presence of over 150 PE-backed DSOs in the nation and counting, Kevin's insights are vital for anyone contemplating selling their practice or strategizing for retirement. Don't miss this chance to learn from an industry authority and potentially attain financial independence through the sale of your practice.

For further information, visit Tusk Partners at www.TUSK-partners.com or contact them at (704) 302-1043. Join us for this enlightening conversation, and stay tuned for more episodes of The Dental Wealth Nation Show! 🦷💰🎧

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🚀🦷 Get ready for a game-changing episode of The Dental Wealth Nation show, featuring the incredible Victoria Peterson! 🌟🌐 Today, we're diving into "Building an Investment-Grade Practice" and shifting your mindset from productivity to long-term value. 💡📈

Join us as Victoria, who uniquely combines a Doctorate in Spiritual Studies with 30 years of dental industry leadership, shares her insights on:

🔸 Predicting Personal Financial Freedom

🔸 Designing a strategy to achieve it (often within 5 years)

🔸 Decreasing stress and loving your practice today

🔸 Building predictable value at the time of sale Don't miss out on this opportunity to infuse your daily operations with the human spirit and make work FUN! 🎉😄

We'll also explore:

🎯 The secret behind the adage "begin with the end in mind" - how do wealthy dentists really do this?

🎯 How is IGP Business Consulting different than traditional practice management consulting?

🎯 In Victoria's opinion, what competitive edge should doctors be focusing on?

After the interview, head to www.productivedentist.com for even more wisdom and practical tools!

👉 Tune in NOW and transform your dental practice into an investment-grade powerhouse with Victoria Peterson! 🦷💥 #DentalWealthNation #InvestmentGradePractice #VictoriaPeterson #ProductiveDentist #FinancialFreedom

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Welcome to Dental Wealth Nation, your trusted guide to achieving financial success and delivering exceptional patient care in the dental industry. In our latest episode, "Dental Insurance SOS," we're thrilled to feature Bri Richardson, a renowned dental insurance expert, who will help you navigate the often complex world of dental insurance.

Bri Richardson, with her wealth of experience in assisting doctors with insurance-related challenges, unravels the intricacies of dental insurance in this enlightening episode. She shares invaluable insights on accurately estimating copays, overcoming bureaucratic hurdles, and ensuring prompt payment within 30 days of treatment completion.

Many dentists find themselves grappling with outstanding insurance issues and struggle to handle these effectively. To address this, Bri introduces Dental Insurance SOS, an in-office team training and support system designed to empower your practice to tackle insurance obstacles proactively and prevent future issues.

A highlight of this episode is Bri's foolproof formula for out-of-network doctors to collect payments from insurance companies promptly. This secret could revolutionize the efficiency of your practice!

At Dental Wealth Nation, our mission is to equip you with practical strategies and hidden advice to maximize your net worth and provide the best care for your patients. Our host, Tim McNeely, and esteemed guests like Bri Richardson, offer guidance often undisclosed to most professionals. We encourage you to explore our website, dentalwealthnation.com, for more valuable resources and episodes.

If you're a driven dentist aspiring to build a life of significance while maximizing your net worth, this episode is a must-listen! Get ready to demystify dental insurance and elevate your practice to new heights.

Tune into "Dental Insurance SOS with Bri Richardson" on Dental Wealth Nation to gain access to Bri's proven formula and master insurance-related challenges. Don't forget to subscribe to our podcast for future episodes packed with hidden advice and strategies.

Join us on this journey to a more profitable and fulfilling dental career!

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Welcome to Dental Wealth Nation, your go-to show for transforming your dental practice and enhancing patient care. In this enlightening episode, we delve into the fascinating realm of IV sedation and sleep dentistry, guided by the expertise of Dr. William Moorhead.

Discover the immediate strategies that can revolutionize your practice, making it more accessible to fearful and non-scheduling patients. Dr. Moorhead imparts his extensive knowledge on sedation dentistry, offering invaluable insights that can redefine your approach to patient care. Learn about the advantages and challenges of IV sedation, its cost-effectiveness, and predictability in dental procedures.

This episode also explores how IV sedation can alleviate dental fears, creating a more comfortable patient experience. We discuss the potential of billing IV sedation to medical insurance, and how patients can utilize their insurance benefits for necessary dental work.

Dr. Moorhead sheds light on the lasting impact of negative childhood dental experiences and shares empathetic techniques to improve patient comfort. His strategies aim to enhance patient experiences while boosting your practice's financial health.

We also delve into the role of oral conscious sedation and its evolution in dentistry. Dr. Moorhead emphasizes the importance of applying shared knowledge to increase your practice's net worth, offering specialized advice typically unavailable to dentists.

In this episode, we introduce Nucom, a valuable tool for managing fearful patients, even without IV sedation. This safe and effective product can be used with nitrous oxide and is especially useful for handling difficult patients.

Join us on Dental Wealth Nation as we unearth hidden strategies used by successful dental professionals. Take action to improve your practice, increase patient satisfaction, and enhance your wealth in all aspects of dentistry.

If you have any questions or need further information about Nucom or related topics, feel free to reach out to us via email. Remember to like, comment, and subscribe for more insightful episodes. Together, let's revolutionize your dental practice and seize the wealth of opportunities that await!

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🎥 Get ready to level up your practice game! 💪🏼. Are you ready to become a proud practice owner? 💡. Join Jason Schneller of Provide and unlock the secrets to successful practice ownership 🔓. Discover the benefits 💰, overcome the obstacles 🛡️ and learn why owning a practice is the ultimate career goal 🏆. Don't miss out on this informative session 💡 Tune in now!

Get pre-qualified now https://go.dentalwealthnation.com/get...

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Wesley Sierk is the President and Co-Founder of Risk Management Advisors. He is a nationally recognized expert in the field of captive insurance company design, implementation, risk transfer, and captive insurance company management. He also oversees Risk Management Advisors asset protection, executive compensation, and corporate benefit planning division.

He is the author of Taken Captive: The Secret to Capturing Your Piece of America's Multi-Billion Dollar Insurance Industry. He is also the author of You Can Make It, But Can You Keep It? a book to teach the wealthy how to hold on to much of their hard-earned assets. In addition, he has authored many articles including “Facing Down High Insurance Premiums” in Builders Exchange, and “Captive Insurance Companies: They Can Lower Costs and Increase Profits” in the Journal of Construction Accounting and Taxation.

You won't want to miss this interview with Wes!!

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Getting into practice ownership can be challenging. If you are going to take the plunge into practice ownership, the question you should ask is: Should you buy or Build?

So other things to consider are:

Is ownership even right for you?

Should you be an associate?

Do you have what it takes to manage people?

You won't miss this Dental Wealth Nation episode with Michael Dinsio. Not only has Michael helped over 100 doctors get into ownership in the last 2 years, he also played Labron James in HS Basketball!

You can connect with Michael at www.nxlevelconsultants.com or check out their podcast at www.dentaluncensored.com

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Discover how to take your dental practice to the next level with an in-house membership plan! With this turnkey solution, you can increase practice health and revenue, while providing patients with more affordable options for dental care.

You'll learn how economic decline has impacted the dental industry, and how to maximize high-value metrics such as hygiene reappointments, treatment acceptance, and patient compliance. Plus, you'll discover how to manage your own in-house membership plan with Kleer Intelligence.

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Our special guest Mohsen Ghoreishi from kohaninc.com will share his expertise on how to improve your patient experience, work environment, and revenue. 💰🦷 Don't miss this opportunity to learn how you can increase your revenue by 35% in the first year after a renovation! 💪💰

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Welcome to How to Become More Profitable Through Commercial Real Estate.

In this episode, Neil O'Connor and I discuss how you can create confidence in opening your practice, whether it's a start-up or your next location.

So if you want to Rediscover your 'Why," overcome Fear with Faith, and learn how to find your support circle, tune in now!

In this episode, you'll discover:

“How to become more profitable through Commercial Real Estate.”

• Creating peace of Mind - through representation • How to avoid pitfalls • Save time • Save money • Know your limits • How to work together or smarter • Are you ready

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Are you looking to acquire your first or even your third practice? Then you will want to understand the unique lending options that aspiring practice owners have access to.

Tune in and hear from Jason Schneller of Provide: You will learn why owning a practice is beneficial, some of the benefits of practice ownership, and how to overcome obstacles to acquiring a practice.

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If you may want to pass along your dental business to your children or other family members down the road, the time to start preparing for that moment is NOW. Discover how family business succession planning can potentially help head off business-destroying conflicts and enable you to create a family dynasty.

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Attention Dental Entrepreneurs: Eye-opening episode of Dental Wealth Nation on ways to potentially save large sums for your retirement.

The easy choice when setting up a retirement plan is to go with something familiar that you understand. But as this report reveals, the easy choice is not necessarily the best choice—especially if you’re looking to save aggressively for your retirement.

In this episode, you'll discover:

The case for qualified plans
Defined contribution plans
Defined benefit plans

Tune in now and Thrive!

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Are you a Dental Entrepreneur who is struggling to Thrive into todays uncertain world?

If so, you will want to tune in today and learn:

How to make sure you are setting yourself up to get the best terms on your real estate
Where does your practice stand in the market today
Build a plan for the next steps in your career

Laura will also share: How you can save thousands on your lease and some hot tips for things you should look for in your lease.

Thanks so much for being with us this week. Have some feedback you'd like to share? Please leave a note in the comments section below!

If you enjoyed this episode on four success drivers that help some of the most successful individuals and families grow and sustain their sizable net worth., please share it with your friends by using the social media buttons you see at the bottom of the post.

Don't forget to subscribe to the show on iTunes to get automatic episode updates for our "Dental Wealth Nation!"

And, finally, please take a minute to leave us an honest review and rating on iTunes. They really help us out when it comes to the ranking of the show and I make it a point to read every single one of the reviews we get.

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The Super Rich can teach you a lot about managing your wealth. In this episode, Tim McNeely will highlight four success drivers that help some of the most successful individuals and families grow and sustain their sizable net worth.

Thanks so much for being with us this week. Have some feedback you'd like to share? Please leave a note in the comments section below!

Don't forget to subscribe to the show on iTunes to get automatic episode updates for our "Dental Wealth Nation!"

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Would you like to understand what coaching is and how it can be used effectively to unlock potential and maximize performance? Are you ready to learn how Mudasser Hussain was able to transition to being a part-time dentist and provide business exec coaching? Or even how to increase revenue, productivity, well-being, and your mental health? If so you won't want to miss "Coaching your way to Success with Mudasser Hussain"

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Are you interested in building a complete marketing plan for your dental organization? Are you curious about avoiding failures in advertising, reducing risk, and wasting time while growing your practice?

If so, you won't want to miss this episode with Patrick Chavoustie of Omnipremier. Tune and you will learn how to lower your overall marketing costs without sacrificing new patient growth, how to get more referrals for your practice, and a one-page marketing plan along with a free one on one strategy session.

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Would you like to know how to work more efficiently and productively? If so then tune in and learn from Gene St. Louis how you can Capture the Best of 2022!

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Tune in and learn from Curtis Marshall how Dental Intelligence connects to your Practice Management Software then runs in the background, tracking everything, analyzing, automating, finding opportunities, & communicating with you.

Imagine the compounding effect of doing everything right, every single day and you have a glimpse of how Dental Intel can help you do even more.

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Savvy Dentist was born out of a need identified by dentist and founder, Dr. Jesse Green. Recognizing the operating environment for dentists changed dramatically and left many without a busy compass, over several years, Jesse devised the tools, systems, and integrated dental business coaching program that is now Savvy Dentist.

Tune in today and learn how you can move from stress out to savvy with Dr. Jesse Green.

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Oftentimes estate planning can be overwhelming and settling an estate can be downright confusing. Tune in today and learn about the choices you have when it comes to naming a trustee and how to choose a trustee wisely.

You won't want to miss this conversation with Kevin Quinn, Co-founder, and President, of The Independent Trustee Alliance.

Tune in and learn:

What are the responsibilities of a trustee
What is an independent trustee
What are the different types of trustees
Why an independent trustee

But most importantly, you will leave equipped and even better prepared to take care of the people you love the most.

Transcript 0:08 As a driven dentist, you see the world differently, where some see scarcity. You see abundance when others want to give up, you keep going, you're building an amazing life of significance. That means you can't rely on ordinary advice from ordinary advisors to get to your goals, you want advice that's going to help maximize your net worth, so you can take even better care of the people you love, the causes you care about, and make your dent in the universe. But the fact is, this advice remains hidden because relatively few professionals are well versed in them and the extremely affluent don't care to let him know about them. Join us as we pull back the curtain to reveal the often hidden advice and strategies used by today's most successful individuals and families. Welcome to dental wealth nation, here's your host, Tim McNeely.

1:08 Welcome to another edition of dental wealth nation, I am so excited that you are here today, we're going to be talking about something so important. Many of you have done a trust, you've done your estate planner, or maybe you're in the process of making one out now. And the attorney you're working with or the legal service, they're going to say, Who do you want to be your trustee. And many times your eyes may go blank and you have no idea what to put there. Or you think you know all I'll put my son or my daughter or family member and all, all the stow this great honor upon them. But we want to help you make some more educated choices about who a trustee is, and what their roles are and their responsibilities. And by the time we finished a day, you're going to know what an independent trustee is. And you're really going to have some insight into why that may be a great option for you, you're going to have a better understanding of really what the roles and responsibilities of a trustee are. But more importantly, you're gonna feel confident when you're choosing a trustee for your own trust. And wow, am I excited, we've got Kevin Quinn here today. And Kevin, he is the co founder and the president of the independent trustee Alliance and the independent trustee alliance is the only organization that's dedicated to the profession of being trustees. He has been a professional trustee for the past nine years. And as we were talking before the show, he has an absolute passion for helping each family with their unique situation. They're certainly commonalities among all state plans, and in all the planning that's done. But there's also very unique things. And that's what he enjoys so much about his work. And and I'm just thrilled to have you here with us today. Kevin, welcome to the show.

2:45 Thanks, Tim. Appreciate you give them the time to talk with me about this.

2:49 Yeah. So give me a little background on you. And how did you get started and you know, is in being a trustee and then, you know, even with the independent trustee Alliance?

3:00 Well, they're certainly as a profession, this is not something that you would necessarily go to school to learn how to do. You don't go to college and get a degree and being a trustee. So I got into this, actually through experiences within my own family. For the first my first career, if you will, I was a professional project manager, mostly in the IT world. But all during that time, I was trustee for some trust within my family. My grandmother had started with some very forward looking estate planning, you know, went to my father and then trickled down to me. And, and there were some hits and some misses along the way. But after my father passed away, I realized what I'd been doing within my own family, that there was a need for this for other families. And once I was dealing with just my mother and her situation, I thought there's a there's other people like this out there that that need this sort of help. So that's when I hung up my shingle, if you will, and said this is what I was really passionate about doing for the rest of my working life. And so that's how I got started in this. And along the way. I would really get three responses when I would talk with people about what I was doing. The first and the most common response was people would just look at me like had three heads and six tails. I had no idea what I was talking about. The second response would be, okay, I, I understand the words that came out of your mouth. Good luck with that. And the third response would be okay, I get what you're saying, I understand what you're talking about. But how do I know how do I really know that you are someone that can can be trusted that I can introduce my clients to? And so that's actually what precipitated then the creation of the independent trustee Alliance, that there's really nothing that the states regulate, as in this regard. A California has the Protect professional fiduciary. But really, other states do not. So, you know, people would say legitimately, okay, well, you know, how do I know? What do I know so that Twitter inform the independent trustee Alliance, by which we won't have to wait for a bunch of legislatures in some state capitol to just say there needs to be some certification or, or anything like that. So we created our own certified independent trustee criteria, master certified independent trustee criteria. Just said, No, those of us in this world we can self regulate, we know what's important. We know when somebody's doing the job and not doing the job adhering to our standards of ethics, and code of conduct. And so that I has really helped raised this profession in the eyes of other professionals that there is legitimacy, there is true legitimacy to what people like myself, who work in this world are actually doing. Yeah,

7:20 no, that's, that's very fascinating. It's also fascinating. And you mentioned project management. And being a trustee, though, those two are actually kind of closely related, aren't they?

7:30 Very closely related. It was that was the easiest part of my transitioning into this world full time, was taking all those project management skills, and just applying them in another arena, because very much so any trustee is at the hub of the wheel, making the decisions and making sure other people involved, such as the financial advisors, CPAs, the beneficiaries and so on, are all aware of the rules and doing what they need to do. And the rules for a trust or the trust document itself. And many are very similar, but each one can be unique unto itself. So there are certainly variety in in the trust themselves, that the trustee has to be aware of. It's not a one size fits all.

8:37 Right, so So we keep kind of tossing this word around trustee, how would you actually define trustee? Well, what's the actual definition of a trustee?

8:47 Well, the the trustee is legally a fiduciary, with that very high fiduciary legal standard, with the obligation to the trust and the beneficiaries of the trust. And that in the trust world, remember, the trustee in a trust document is named individually. Alright, so I work as an individual, if even if I had an LLC structure or something around me, once I trustee, I'm still going to be named individually in the trust document, which also means the trustee is the one person if things go wrong, who's going to get sued. So an independent trustee has to be willing to accept that as a risk of the profession, that you're the person that can get sued if somebody gets very unhappy with, with what's going on with their trust.

9:58 So so really, I try As the person who's been charged with actually carrying out the the instructions that are contained inside of the trust, then

10:08 precisely the person who has the legal obligation to carry out the instructions inside the trust. Number one, two, be loyal to the trust itself. It's not it's not what a lot of people just assume, because they've watched a lot of movies or read a lot of books that my trustees the person that I turned to, and say, give me money. And, you know, it's like punch in the ATM, I, I send a message, I make a phone call. And then money comes out the other side, it just doesn't work like that. As trustee has to make all decisions in light of what's best not just for the beneficiary, but for the trust itself.

11:06 Now, how do most people find themselves actually in the the role of trustee? Is this something they sign up for? Do they just get named in a trust by maybe parents or, you know, the rich, you know, uncle or aunt, right? How do people typically find themselves in this role?

11:22 I believe the majority of people who create a trust, sit with the attorney and the attorney says, Okay, we've we've created this wonderful trust. Now who do you want to be trustee? Many times, then the person creating the trust or persons creating trust might roll their eyes or look at each other to like, Gee, I don't know. You know, how about No, how about Ned? No, Ned's, our oldest kid and seems to be very responsible. So let's make him trustee. That's, I think the way most people end up being trustee and foremost, most people will look at it as the an honor that's been bestowed upon them. Wow. You know, mom, dad, grandma, grandpa, uncle, whomever thought so much of me that they're willing to name me as trustee and and wow, now, it's a great honor. But they don't really then think would have no way of really understanding what it is they're signing on for?

12:47 Yeah, right. A lot of times, the parents don't really realize or the grandparents don't really realize what they've signed someone up for, do they?

12:54 Oh, absolutely not. Because in the vast majority of instances there, they want to get their trust document created, and they're checking boxes. Now. We know gotta trust check got across D check. Let's get on with our lives.

13:15 So what are some of the roles and responsibilities of a trustee?

13:25 I think the, the responsibilities are always defined legally. Okay. And this is why I would separate out roles versus responsibilities, responsibilities, would be loyalty to the trust, making sure that distributions are allowable under the terms of the trust, making sure that trust assets are properly invested for that specific trust, making sure that the tax returns are completed on time that beneficiaries are receiving their their Schedule K ones. Those aye, those legality things and those things that must be done, I see more, it's the responsibilities. The role, however, of trustee is where the rubber really meets the road, in my estimation, because the trustee has to become many different things to be successful in the role of of trustee. You have to be number one, willing to say no, and that is something that's extraordinarily difficult for one family member to do say no to another family member. It's also You know, they can go the other way within family or somebody says yes to often, and actually creates harm to the trust and the longevity of the trust. Robots can be counselor, I will sometimes get get calls from, I'll give you an example. One Saturday night, about eight o'clock on Saturday night, I got a phone call. And I knew it was from a beneficiary. And I knew she was somebody who struggled with life. And she was very upset because she thought somebody was trying to break into her house. And she didn't want to call the police because she'd called the police in the past, but they'd not been helpful to her well, understandable because this person really had her own demons that, that she was fighting. And at that point, she just, I couldn't do anything for other than advisor, you need to hang up and call the police. But she was, she didn't have anybody that she could just talk to for five minutes and calm her down. So that was somebody that I had to play the role of counselor for, it's not something that you want to get dragged into, necessarily, but you don't want to become a meshed in somebody's life to that point where they think they can just pick up the phone and call you at any time. But it was, in a way that sort of thing can be viewed as a win, because the person actually views you with enough confidence that they see you as somebody that they can turn to when they need help. So go ahead, you're going to ask a question.

17:11 Right. Can I come back to the trustee? Right, who are some different people that can actually, you know, serve as trustee? We've talked about family members, we've talked about, you know, maybe, you know, niece, nephew, aunt, right. So, you know, or, you know, next door neighbor, right friends like that can can serve as a trustee. But, you know, sometimes big banks will do that. And then there's there's independent trustees. So So what are some of the differences in what you think through? As you're, you know, you're working with that attorney, and the attorney says, Who do you want to be trustee? What someone be thinking through? When they get asked that question?

17:47 Well, certainly the list that you gave is a good description of who can be named as trustee, it could be the family member, or it can be an individual such as myself, it could be a bank or Trust Company. Now, depending on the type of trust, and the goals that the person who's the grantor of the trust, has, that can really drive that decision about who is going to be press D. A lot of times people have means who are setting up trusts have a relationship with their bank. And so they just naturally say to the bank, hey, you've got to trust department, will you will your trust department to take this on and be trustee of this trust? We've been working together for 1015 20 3050 years, whatever. Okay, you know, that can make a lot of sense. When you get into people who don't have that sort of long term relationship with a bank, and are setting up a trust, oftentimes they will go to a trust company and ask that trust company to serve as their trustee. Depending out if the if the trust isn't big enough. Trust Company or banks going to turn it down because they have minimum sizes that that they will take on sometimes it's 5 million, sometimes 2 million, some will go down is to 500,000. So many times people get surprised that the Trust Company or bank is not interested in serving you as trustee on their trust, and that's where they might turn to a family member or somebody like myself.

20:07 Okay, so So what are some of the differences between the, you know, the bank in you, right? I know, someone may be thinking, hey, you know that bank, they're going to be there for the next 50 100 years, I'll hire an independent trustee. How does that work?

20:23 Sure. That's the reason a lot of people will turn first to a bank or Trust Company is because hey, this is this is longevity, they're here today, they're going to be here tomorrow. That's the thing about the bank or the Trust Company is that bank or trust company is, of course has been granted trust powers from the state. But it doesn't mean that just because you're starting out with that bank, or that Trust Company, and you like that trust officer who was assigned to you doesn't mean that that trust officer is going to be the trustee, or you six months from now, or a year from now, because they are employees of the companies they work for. So they may get a promotion, they may go into a different department, they may leave the company. So you don't have you have a trade off between the longevity of the bank or trust company versus having a relationship with the trustee. And so whereas an independent trustee is often going to be viewed as well, okay, you know, what's your backup plan, and we'll talk about that in a moment. When you engage an independent trustee, you are really engaging that person, and that person is going to be there. When you call, you know, they're they're not going to go to a different department in six months, or quit and go work for another company. So that's one big thing is what sort of relationship do you want to have? Not just with the the Trust Company, but what sort of relationship do you want to have with the trustee? Obviously, if you're going to a bank or Trust Company, well if that trustee was there, but it's not there now, because they've gone to do something else, you have another trustee who's just slotted, right in because they're, they're part of that company. Whereas somebody like myself, the question is, well, what happens if I become incapacitated? Or if I get run over by a bus? And so that's where you're into these successor trustee planning, oftentimes on new trust that I get involved with one way, answer that question is what right into the trust? If Kevin is incapacitated for so long, whatever timeframe maybe, then the current president of the independent trustee alliance can nominate a successor trustee from qualified members of the organization. And so that way, we can at least get somebody through the hump, or the bump in the road, if you will.

23:49 Now, how important is that relationship with the trustee does it matter?

23:57 For most people, it really does matter. It really does. Because they, just like somebody was working with a financial advisor. Now if you decide, hey, this is my person, this is my guy. This is my gal. And I, I like them. She'd be very upset if you haven't had a need to talk to them for a month and and you reach out to them and find out oh, well, that they're gone. They they've left they don't work here anymore. Well, you know, heck, I like that person. I trusted that person. I believed in that person. So it really is, I think very important to have a good working relationship with a trustee that that you like,

24:50 right? And this is so much more than you know going to the carwash and all of a sudden you're your favorite person isn't there because they they moved on or your favorite bank tellers gone Right, when you're dealing with the trustee, you're also dealing with the family dynamics and understanding of the trust. And so, you know, I think that relationship is very, very valuable. Because you want someone who understands the unique goals and objectives of your family and what you're trying to achieve.

25:17 You you do, and force, again, for some people working with an institution works very well, because they can engage that institution. And that institution might have departments or people that work with that family, specifically on long term family dynamics, and so on. But for other people, that's not what they're looking for. Give you an example, I was recently asked to look into maybe taking on a trust where an adult sibling had been left in charge of a new trust for another adult sibling. And after just a short time, realized, this is just, this is not what I do. And this is taking a lot of time. And, you know, I'm dealing with my sibling in ways that not only is it becoming a strain on my relationship with that sibling, but it's actually becoming a strain on relations with my other siblings as well, who aren't very sympathetic to what I'm going through as trustee. Now, the independent trustee has the luxury of not being a member of the family. So can look at things a lot more dispassionately. And end and say to somebody, you know, this, this is not the purpose of this trust. And I'm, you know, I'm sorry, that you're carrying this, this grudge that you've been carrying since you were five years old. But it's not, it's not a leverage point that you're going to use against me as the independent trustee because it means nothing to me. Now, whereas you may have been using that as a, that old grudge against your sibling, when your sibling was trusty, because it really pushed the right buttons with that sibling.

27:43 So the point when someone consider bringing you in, in right, we're not just talking about family trust here, we could be talking about special needs trust, or we could be talking about charitable remainder trust or, or different estate planning techniques or charitable trusts, correct. I mean, there's a wide variety, we're talking about trust here.

28:02 Yes. And many, many of the independent trustees that I know will work kind of what I'll call as a generalist, they'll take on multiple different types of trusts. I myself, that's how I work. I know other trustees who who do not I know trustees, who will only take trust that contain businesses that are very focused on on that segment. I know trustees who will only do special needs trusts, I know others who want to touch a special needs trust with a 10 foot pole. So within the the overarching profession, there are just like there are in other professions, there are people who are more specialized in one area and people who are more general. And, and they trustee can be brought in at many points along the spectrum. It's actually very rare for me to be involved with something when it's first being established. Almost always I get brought in after something has been established. It's up and running. And then somebody finds out, this is more work and more responsibility than I thought it was going to be. How do I how do I get off of this merry go round and give my seat to somebody else?

29:48 Now with that kind of responsibility in the load of responsibility, I know sometimes think Well, that's what the attorneys do is the attorneys do all that kind of stuff, but but that's really not the case is it

30:02 Interestingly, it more of a regional question that you brought up there, because many attorneys in some states, I think California, for instance, will not serve as trustee. That's just, you know, it's not what they will do. You get into the Northeast region of the United States. And it's actually it's very common for an attorney to serve as trustee. So they think that's just kind of interesting that kind of depends on where you are.

30:47 Okay. So so let's say you're going through and you decided, you know, what, I do have a trust with some complexity. And, you know, I don't want to burden a family member with this. And I want to, you know, really look at it bringing together that corporate trustee or the the independent trustee, what are some questions that we should be asking? What should we be looking at? And considering as we're interviewing and talking to or even finding a trustee did to help us manage our wealth?

31:15 Some of the things that you should be considering? are, what sort of relationship do I want to have with my trustee? Of what sort of relationship do I have with my current advisors? And do I want to keep my current advisors or not? Now my general rule of thumb is I come is I see myself as coming in as a new person on the team that the team is already in place, the CPA is there, the financial advisors there, the attorney is there. Maybe there's a family advisor there in place, and I'm just coming in as the newest member of the team, I'm not looking to replace any other professional and what they do. Now, many times, I won't say most, but many, many times, if you go to a Trust Company, or Bank Trust department, they're going to take all of those roles themselves, they're not going to be just trustee. But they're going to say, we have our own attorneys who will now be handling the legal work, we have our own CPAs, who will now be handling all the tax work. We have our own investment departments who will now be handling all of the investments. And so that would that's one question you have to consider is, how important is it to you to maintain your current team? And it's very important to some people, other people might be in a position where that's of lesser importance to them. But that's a big question that a lot of people need to be aware of that those things will happen. Like that. And then, well, what type of trust? Is this? And do I know what level of of care does it need? I mean, that in terms of like a special needs trust is going to have extra responsibility with it. So do I want to take this to an individual? And does the individual have expertise with special needs trust? Or do I need to take this to a company who specializes in special needs trusts and know all the rules of the road regarding a special needs trust? So that would be a reason why they may, you know, go one way versus another. Okay.

34:10 Now, I know the other thing some people may be thinking right, it is once again, you know the role of trustee it's a it's a trusted role and there there certainly is that that fiduciary obligation which is the the highest code of ethics and law because it means you have to act in the best interest of the of the trust not not yourself, right, you got to put the trust ahead of everything else. And so, you know, in that trusted physician, right, how do you know the true actually bringing in someone who is trustworthy? What kind of controls are in place to make sure these things don't go sideways either with a professional Trust Company, a family member or even an independent trustee because that's a risk across the board?

34:51 Well, it it certainly is. No, the the institutions have the The advantage of Yeah, you know, it might not be my team that that's still in place. But these people, this is what they do all day every day they've been granted these authorities through the state St. Banking Commission's and so they have the instant credibility of they are an institutional Trust Company so as an independent trustee if you're looking for an independent trustee, you have to ask, is this person carrying errors and omissions liability insurance? What's this person's backup plan? Like we talked about what the successor trustee language? How often is this? How often will my beneficiary or me as the grantor receive reports on the trust generally is supposed to be an annual report. But some trust may be written to say this requires monthly or or semiannual reporting. So what's the reporting category? How much? How involved? Will my attorney be within the oversight? How involved with my financial advisor be what what are some other things that can be done or there are certain roles that can be written into a trust, for instance, a trust protector, which is becoming much more common for that is a non trustee did to another third party who has certain authority to remove the trustee if the trustee is is not doing the job, can remove and replace or be somebody that has the authority to say we're, I'm now going to demand an audit of the books. So there are additional controls that can be written in to the trust document itself, actually.

37:31 So how aware are some attorneys have this as this widespread knowledge among the estate planning community and trust planning community? Things like a trust protector?

37:42 Or those sorts of things? Yes. And of estate planning attorney is going to be up on on all of the different things such as a trust protector, trust modification committee. Whether or not they have written those into documents before, maybe another question, but they're certainly things that are becoming much more common, as people have experienced. Gosh, no, this, this trust that grandma had written was done 40 years ago. And now it's, you know, and now 40 years later, we're having some problems with this trust, not from the trustee or anything like that. But just from the way the trust is written, laws have changed. Things are known now that weren't known 40 years ago. So we're, this that dog on things starting to hit a wall. And a lot of the practitioners and the attorneys are, are getting really good at thinking, Okay, this is I'm not just writing this for today. But um, I really need to include as many tools in here as possible, to make sure that this thing can continue to live for a very long time. 100 years, 200 years, that got to write those tools and hooks in here to allow that to happen.

39:23 No, very, very true. So Kevin, if people will have questions around this and they want to get in touch with you, how can we find you?

39:32 Well, I can always be found trustee Texas calm. Or you can go to Trustee alliance.com. You can find me or other people like me,

39:47 and that trustee alliance that really is a great starting place for you to go check out you know, the role of an independent trustee and the services that you provide, isn't it?

39:58 It's certainly meant to be a resource, and it certainly is continues to grow. And we want people to know that this profession is out there, it's available, it's viable. And it's something that is worth looking into before you make your decisions about who's going to be your trustee.

40:24 Yeah, right. I mean, it's something not a lot of people are aware of, like you said, you know, usually the first thought is, so let's go to the bank and see what they can offer. Whereas, you know, I'm a big fan of the independent world, because sometimes the larger companies, they got some conflicts of interest hidden here and there, just, you know, not saying always, but but that can creep up quite a bit. And so, absolutely fan of independence.

40:48 Well, obviously, I am, too, if you're going to a bank, make sure you get full disclosure on their fee schedule, because there can be there'll be a lot of things in there. You know, I've seen for instance, if it's a trust that owns farmland, well, the banks charging a fee every time that there's a crop harvested. There, they're charging a fee to sell the crop. Yeah. Which most independent trustees aren't going to be that granular, no pun intended about. No, going down and wanting to charge fees like that.

41:28 Yeah. Well, hey, Kevin, I know, I certainly have a much better role of what an independent trustee is, and why it may be a great option for me, and certainly have much more of an understanding of the role of what trustees do, and certainly have some additional confidence in choosing and making those choices. So any closing thoughts for us before we sign off?

41:53 Being selecting the trustee, there's, there's a lot of good answers for people, banks and trust companies have a tremendous role to play, they can be the right answer for a lot of people. For others, though, they need to understand that the independent trustee is a viable option. And we just need to continue to raise the awareness, both with the the clients and with professionals that this is something that is available. And it's something worth looking into.

42:43 Yeah, well, hey, thank you for being here. Thank you for sharing so generously with us and, and especially really pushing this profession forward, right. I'm a big fan also professionals coming together and saying, We know how to regulate ourselves, we can set our own rules, and we can play by them and, and hold ourselves accountable to a standard. So kudos to you for for pushing the industry and this profession forward. And thank you for being an amazing guest.

43:08 Thank you very much, Tim ppreciate, the kind words and it's a pleasure to be here with you.

43:14 And to all our listeners. Thank you again, for tuning in. And I want you to walk away with more confidence. When it comes to your plans and managing your wealth, right. We want to help you build an amazing life of significance, and take care of those people you love, support the causes you care about, and really make that impact in the world. But to do that, you got to take action. It's not enough to just listen to these things. You got to take action and if you take action on what you heard today, you're going to be able to make it a great day. Until then. We'll see you again soon here on dental wealth nation. Thanks again, Kevin. Welcome.

43:50 You've been listening to dental wealth nation. We hope you've gotten some useful and practical information from the show. Join us next time as we pull back the curtain to reveal the often hidden advice and strategies used by today's most successful individuals and families and help maximize your net worth so you can take even better care of the people you love. Till next time, make sure to hit the website at dental wealth nation.com

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Grab Your "5 Keys Every Business Owner Must Know" below. https://nlbusinessadvisors.com/eguidefivekeys.

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Host of The Dental Road Warrior
Founder and CEO of Staff Driven Dental
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When selling your business, it might make sense to include an earn-out provision. But you’ve got to plan carefully and tread cautiously if you take this route.

Dental Wealth Nation with Tim McNeely: Recent Episodes

Timothy J McNeely