CASE STUDY

wealthBUILDER

Our Financial Planning Success System

Working hard in the vague hope that you'll be able to retire comfortably one day isn't smart!

Few businesses are facing as many pressures on their profits as the dental sector, whether it’s from corporate consolidators or government interference, times are getting tougher.

Therefore knowing you are definitely making progress towards financial freedom is essential to make sure all your hard work is paying off. 

That’s what one of our top-performing dental practice clients wanted to know to give them the peace of mind to enable them instead to concentrate the majority of their efforts on maintaining their profit margins.

Firs Dental Practice, situated on the outskirts of Leicester, operates both a NHS practice and a private practice, with the latter being a strategically branded under the ‘Firs Premier’ identity. The partners, Dr Raj Ghadiali and Dr Raj Gupta, already knew they were generating respectable profits by utilising our management accounts service and quarterly performance review meetings but they wanted to take their financial management one stage further and gain clarity with their personal financial planning.

Marlow Proactive Client Case Study - Firs Dental

CLIENT FOCUS

Established in:1997

Business Type:Dental Practice

Firs Dental Practice is situated on the outskirts of Leicester in Birstall. The practice operates both an NHS practice and private practice and was opened and is still owned and managed by good friends Raj Ghadiali and Raj Gupta, who met and qualified at Manchester Dental School. Their vision was to create a practice that would provide patients with a friendly, relaxed environment and surgeries equipped with the latest in dental technology.

How we implemented the wealthBUIDLER service to put their minds at rest and ensured that their money worked harder

STEP 1

RetireSAFE
The overall goal to financial planning is to make sure you accumulate sufficient passive income to enable you to give up or work less and still live comfortably doing all the things you want to. So we started by defining the partners ‘retirement’ needs. Then we calculated the gap between their current wealth pot and their target figure and set an ideal exit date. This way we could calculate the amount of wealth per year they needed to accumulate and how best to do this.

STEP 2

Business GrowHOW
Because a client's business is normally the ‘golden goose’ as regards generating wealth, we then mapped out a medium/long term business value forecast to fill the majority of their wealth gap. We then explored the ways in which they could achieve the business growth required and allocated these strategies to each year in the forecast. (Our financialDIRECTOR service takes this one step further by meeting at the start of each year to create an action plan to implement the growth strategies allocated to each year).

STEP 2

STEP 3

onTRACK
As well as increasing their personal wealth pot and concentrating on how to grow their business we also set out an annual business strategy for Firs Dental each year and meet with them quarterly to set our their next 90-day goals, actions and ensure they stay on track for maximum results.

THE OUTCOME...

The clarity on the way forward has given the partners the peace of mind they sought. 

All of their current risks have been considered and they also have a business growth plan detailing what needs working on each year to improve their business and hence it's capital value. The annual review meeting will take stock of what they achieve each year and enable them to make sure they stay on track with their ideal exit date!