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Is Your Advisor a Data Nerd or Just Taking Your Word? – Episode 238


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There are many ways to deliver financial advice. So how can you know you’re getting advice that’s right for you? 

On this episode of the Dentist Money™ Show, Ryan interviews Will Gochnour, a member of our Dentist Advisors advisory team. It’s a behind-the-curtain look at what our associates go through as they prepare to take on the role of Financial Advisor. 

Data collection is at the heart of our holistic financial planning philosophy and provides the foundation for good financial decisions. Will describes how gathering data for hundreds of financial plans, and then seeing how we use that data to support our advice, prepared him for his current role.


 

 

Podcast Transcript

Ryan Isaac:
Hey, Dentist Money Show listeners. This is Ryan Isaac. Thanks for tuning into the Dentist Money Show today. We’ve got a treat. We have our good friend and financial advisor with Dentist Advisors, Mr. Will Gochnour. Will talks about his journey from medical school to becoming an advisor for Dentist Advisors. He tells us about some of the common questions new dentists have in their careers and gives us some advice for how to overcome early fears and worries and anxieties of starting a new practice and getting your financial life in order.

Ryan Isaac:
Thanks for tuning in and thanks for joining us. If you have any questions, go to dentistadvisors.com and feel free to click on the book free consultation button and schedule a chat with one of our very friendly expert Dental Advisors anytime you’d like. Thanks again for tuning in and enjoy the show.

Announcer:
Consultant advisor. Conduct your own due diligence when making financial decisions. General principles discussed during this program do not constitute personal advice. This program is furnished by Dentist Advisors, a registered investment advisor. This is Dentist Money. Now here’s your host, Ryan Isaac.

Ryan Isaac:
Welcome to the Dentist Money Show where we help dentists make smart financial decisions. I’m your host today, Ryan Isaac, joined kind of in studio by one of our illustrious advisors, Mr. Will Gochnour. Will, what’s happening? Welcome to the show, buddy.

Will Gochnour:
What’s up, man? Illustrious is not a word that has ever been used to describe me. So I’ll take it.

Ryan Isaac:
It is now. The show is famous for giving people nicknames. The listeners want nicknames for employee guests of the show. I have given Will the nickname of Brain. It’s a long story. You can ask me privately another time. I don’t know if he accepts it or not, but Brain is how we refer to Will sometimes.

Will Gochnour:
That’s good. I’m okay with it.

Ryan Isaac:
You accept Brain?

Will Gochnour:
There is a long backstory involved in some hip hop culture and yeah, we’ll take it.

Ryan Isaac:
Deep hip hop undercover hip hop culture. You can ask us about it. So today on the show we did something similar, I don’t know, maybe month or two ago with Matt Mulcock, another CFP adviser here at Dentist Advisors. And so we’re going to do something similar today on the show. We kind of wanted to showcase what it’s like in Dentist Advisors when somebody chooses to become an advisor with us, kind of where they come from, what makes them want to do this and specifically for our listeners, for everyone checking this out, or maybe you’re a client, how this applies to you is the process that another human in our company goes through to become an expert on all things dental and the type of person who makes a good fiduciary and what kind of personality and training ends up helping somebody get to a point where not only they know how to give good advice to dentists, but what’s their motivation for doing everything in the best interest of the client and not anything self-serving and kind of how to do that.

Ryan Isaac:
So we’ll start there first. First, Will, let’s give a little deep dive into the life of Will.

Will Gochnour:
Willie’s world.

Ryan Isaac:
Yeah. Willie’s world. Give us an idea. How long have you been with Dentist Advisors now? It feels like a long time. It’s not an insult. It just means that it’s been awesome.

Will Gochnour:
Somewhere in between two and a half and three years almost. I think coming up on three.

Ryan Isaac:
My goodness.

Will Gochnour:
Yeah.

Ryan Isaac:
So cool. So give us an idea where you were prior to that. What were you doing in life when you came across our company? I think you met Reese was the way that it all happened.

Will Gochnour:
Yeah. So Reese lives down the street from where I grew up and kind of grew up in the same neighborhood. I guess I was graduated. I graduated from the University of Utah. I was pretty far down the premed path and working towards thinking about becoming a doctor when Reese, the old hoss, as we call him, kind of came into my life and presented this opportunity to come work for him. My wife, Olivia, and I, we had just found out we were pregnant and it was kind of an inflection point in my life where I was like, “Well, is medicine really?” It was the first time I sat down to kind of think about like, is this premed route right for me or is this a lot of time I’m going to put into something that I wasn’t maybe truly passionate about? But Reese got me on the Dentist Advisors juice pretty quick. And the rest is history.

Ryan Isaac:
Your wife does a really cool thing in Salt Lake City that like everyone knows her for. And there you’re an Instagram husband basically also. So tell us about that, man. How’d that happen?

Will Gochnour:
That might be on my LinkedIn as Instagram husband, but she runs an Instagram account called Utah Grubs. And it’s the biggest food Utah social media account for food in Utah. So it’s a pretty good gig for me. I’m the CEO, the chief eating officer, and just basically, she does it all. We go around to different restaurants and we’re not food critics. We’re kind of like food advertisers, but we just post a lot of cool local restaurant spots. And it’s been an awesome little, yeah, it’s been fun.

Ryan Isaac:
And the benefit’s you get some food sent your way every once in a while, don’t you?

Will Gochnour:
Yeah. It’s pretty nice. And that helps us on the old restaurant budget for sure.

Ryan Isaac:
Yeah. Oh yeah. And your burn rate. Yeah. We have to go into your dashboard and we’ve got to look at like, “Why is Will’s burn rate in the grocery category so low?” It’s because you get free food. Well, so we’ll get to that. I’m curious, just because maybe you had some of the same motivations for initially wanting to go into medicine that a lot of our listeners and clients did for wanting to get into dentistry. What was that like? What were some of the things in your, your mind or your life that were kind of driving you towards medicine at that time?

Will Gochnour:
Yeah, to be completely honest, it was kind of something I picked in my head at a young age and was just I think that’s how, when you’re a young kid, you kind of think like, okay, doctor, dentist, lawyer, or businessman, and there’s not really… You don’t go to college thinking how much there really is out in the world and how many other opportunities there are so you feel like you have to put yourself into this path that leads you somewhere. And not saying that those paths aren’t good paths, they’re great paths, phenomenal paths. And everyone has a different story to tell, but I never thought in a million years I would end up as a financial advisor for dentists. I didn’t even know that kind of a job existed when I was younger. And so it just took a little bit of time to kind of open my eyes to other opportunities and other things I was passionate about. And maybe some things that I wasn’t that I wasn’t so passionate about.

Will Gochnour:
And I really just found a fit. And there’s a lot of parallels between what we do and what doctors and dentists do as far as working with clients. I mean, the cliche answer is helping people and there’s something to that. I don’t think that’s a great answer because you could find a job that helps people with, in whatever you do, but something about creating relationships with people and building trust and engaging with them to make their lives better in whether it’s financial health or physical health or oral health, whatever it may be. That’s something that I found that I wanted to do the rest of my life. Just engage with people, create relationships, build trust. And that’s something that I found would be very easy and really up my alley at Dentist Advisors. So just it was a natural fit for sure.

Ryan Isaac:
One thing I’ve seen be a common thread between employees who choose to be with us and dentists who choose to hire us is what you said. You said, Reese got you on the juice, which we’re talking about the content, Dentist Advisors content, and probably philosophies and ways that we think about personal finance and investing and things like that. So I think there’s a lot of similarities between a new hire who decides, because of that content, that we’re a good fit and a client who decides that we’re a good fit because of that content. So what were some things that you remember standing out about that content or that message or philosophy that seemed different and compelling enough to make you go, “All right. The career I was going to pick since I was a little kid, I’m going to shut that off and I’m going to pick the career I didn’t even know existed because of the content”? What were some of those things? It’s really interesting.

Will Gochnour:
Yeah, no, it is a kind of a crazy story. So Reese being the mad scientist that he is, and just always thinking like two years ahead of everyone else, so he actually even a year before I-

Ryan Isaac:
Or 10.

Will Gochnour:
Yeah, maybe 10. That’s right.

Ryan Isaac:
Yeah. It might be 10.

Will Gochnour:
So even a year before I started, even with a year before I got hired here at Dentist Advisors, Reese had, we were just in contact. So he had told me that I should reach out to six or seven independent or otherwise just people that I knew that were financial advisors. And he asked me to interview them, write what I learned. He prepped me with some questions to ask them, like how are they compensated? What type of clients do they work with? Just some interesting questions that really gave me some insight into the financial advisor industry and how it works from multiple different perspectives. And it was a really powerful exercise. I talked to my buddy who had just started out at Wells Fargo. I talked to an established independent guy. I talked to another one of my older friends that had been working at Fidelity for a handful of years.

Will Gochnour:
And it was kind of the whole spectrum of different financial advice and investment management. And I know why Reese had me do that. And at the time I didn’t. At the time, I was like, “Oh yeah, I’m going to go meet with some financial advisors and talk to them about their careers,” and looking back…

Ryan Isaac:
Write papers on it.

Will Gochnour:
Yeah.

Ryan Isaac:
Write a research paper.

Will Gochnour:
Literally I wrote a research paper. And I literally wrote probably a two page email to Reese after every meeting, just basically talking about like what I learned, and every time I did it, I got better at kind of understanding what was…

Ryan Isaac:
Cool.

Will Gochnour:
It was unfolding before my eyes, what Reese was trying to get at, because I was also learning at the same time about Dentist Advisors before I even started working there, listening to the podcast, consuming some of the videos, meeting with Reese and I was being groomed to become a Dentist Advisor. And it just was super eye opening and, now looking back, just understanding how Dentist Advisors is different. And every single one of these people had their own system or process or product that they sold and it was night and day difference to how we approach things at Dentist Advisors. And I know, obviously I think if you’ve ever listened to the podcast, you understand that we have a certain system and a certain philosophy for delivering financial advice. And I think we believe in it, which is why we try to promote it and get it to people.

Ryan Isaac:
For sure.

Will Gochnour:
And because we believe it’s the right way to do financial planning and financial advice. So I, in essence, came up through the ranks. I was, I guess, I’ll do a baseball analogy, came up with the farm system of DA.

Ryan Isaac:
The minors?

Will Gochnour:
Yeah. Tad’ll like that one. Started out in AA.

Ryan Isaac:
Are there any one or a couple different high level differences as you went through that comparison exercise, anything that you remember standing out in philosophy or process or anything like that?

Will Gochnour:
So, yeah, I mean, most of them, so two of the younger ones that I talked to were all, one was working at Northwestern Mutual, one at Wells Fargo, and one of them was working with his dad. So it was kind of a natural transition into taking over his dad’s clients. And then the other was more of just like trying to eat what you kill, sell some insurance and cold calls till the day ends. And he, to be completely honest, he like hated his job. He was kind of miserable and kind of looking to change, to make a change. And it was something that was truly eyeopening for me to see how Dentist Advisors has this content strategy that we’re hoping to… We really believe we are educators and teachers. And we kind of take that as a primary stance before we even try to have you become a client. And so for some of the bigger firms out there, they’re going to knock down your door, they’ll throw 90 advisors at the wall and hope a couple of them stick.

Will Gochnour:
Talked with some other people who are bigger, higher net worth, more established financial advisors. And the process they went through was more an estate planning and retirement optimization process. And they really only worked with a certain niche of older people who are further along in their career. And so it just opened my eyes to how many different processes and systems there are out there, some better than others. But it’s just interesting that, like you said, there’s a whole gambit of ways that you can deliver financial advice or do dentistry.

Ryan Isaac:
Yeah. Different systems and yeah. And it’s crazy how you can take two of the exact same people that could be twins, same DNA, same intentions, same education, same background experience. Put the two of them in different business models. And they’ll become two different advisors, like big time.

Will Gochnour:
Yeah, exactly.

Ryan Isaac:
And business model environment process, it drives the incentives. It drives the career of the advisor and that all trickles down to the advice a client gets in the shape of a financial path for that client.

Will Gochnour:
Totally. Yep.

Ryan Isaac:
Cool, man, let’s take a quick break and then we’ll come back and we’ll talk about some of your early days at Dentist Advisors and what made that unique and how you started working with dentists. So we’ll be right back. Hey, Matt, what do you like to drink or snack on when we do our webinars every month?

Matt Mulcock:
Yeah. That’s a good question. I’m usually hitting a Red Bull, but it’s hard because it’s an evening webinar.

Ryan Isaac:
Yeah. These evening webinars taking place 6:30 PM mountain standard time.

Matt Mulcock:
Mountain time.

Ryan Isaac:
Once a month.

Matt Mulcock:
Where do you find it?

Ryan Isaac:
Well, if you’d like to find the webinar or you’d like to register for it, you go to dentistadvisors.com/webinar, or just go to the website and click on webinars under the education tab.

Matt Mulcock:
It’s a good time.

Ryan Isaac:
It’s a great time. So what kind of things do we cover in our webinar, Matt?

Matt Mulcock:
So each month we’re going to hit an element, right? So it’s going to be some component of your financial life. We’re going to dive a little bit deeper than we would on the Dentist Money Show. Right? We get to draw pictures. There’s live polls. You can ask questions.

Ryan Isaac:
It’s a great time.

Matt Mulcock:
Yeah. It’s a good time.

Ryan Isaac:
Well, we’d love to see you in attendance at one of our fantastic webinars. Just go to dentistadvisors.com. Sign up today for the next one. Thank you very much.

Ryan Isaac:
All right. And we’re back. Okay. So Will, we determined maybe almost three years ago, you started with Dentist Advisors. We have kind of an internal process here for bringing someone up into the advisor role if they hadn’t already been doing that somewhere else. So some of our advisors, we brought from other firms that already had advisory experience with one-on-one with clients and others start in the process of what we call an associate advisor. And that’s kind of how they learn the business. Honestly, I think, I’m totally biased by the way in saying this, but I think an associate advisor in our firm learns more about financial planning, decision-making and investments than just being thrown into the full advisory role in any other business.

Ryan Isaac:
So let’s talk about that. Walk us through what that means to be an associate advisor. Any clients listening have an associate advisor. For those who are not clients, anyone who hires us is assigned to a team of people like a primary advisor and then an associate advisor that’s in charge of all of the data and reporting. So walk us through the life of an associate advisor. What are you seeing and analyzing and reporting on, on a daily and weekly basis?

Will Gochnour:
Yeah, that’s a great question. So I started out for the first year or so at Dentist Advisors, I was doing the associate advisor work and I really believe, and I am biased as well, but I believe you, when you say it is such good training. The learning curve just takes off the minute you start working on individual client cases. So you get assigned as soon as you come on board with us, you come on with a primary advisor and an associate advisor, and the associate advisor is in charge of onboarding you, so gathering all the data, basically learning your entire financial situation. So organizing it, putting together all the reports for the advisor to then hopefully be able to discern the reports and the data that you’ve gathered and organized and give the advice. So the associate advisor is involved every step of the way.

Will Gochnour:
They are there from step one to gathering all the data to the end of the initial financial planning process of implementing the plan and the tasks. And so there’s complete and utter visibility into everything that the advisor is doing. And we’re working on, I personally worked on hundreds of cases during the time I was an associate advisor, which every case is unique and every case gives you a little different perspective into the life of a dentist, how dentists are different financially, what they’re dealing with, the complexity that comes with different situations. And we have clients from brand new associates to multi-multi location practices with you name it, DSO type situation.

Ryan Isaac:
Yeah, what’s crazy about this, when I think about this, is by the time you’ve spent a couple years as an associate advisor, you’ve probably had the chance to look at hundreds of tax returns, hundreds of insurance policies, multiple hundreds, yeah. Loan documents, investment accounts. You’ve seen the way that hundreds of dentists choose to spend their money. You’ve seen the way hundreds of dentists have to pay taxes. I mean, the insight and the context that you gather. So let’s just take an example. Let’s pick loans, for example. You’re tasked with figuring out a new dentist. They’re coming on board. They’re in the onboarding process. Walk us through some of the stuff that you’re asking about and looking for when you’re just trying to figure out just that one piece of their situation. What loans does this person have? What are you going through?

Will Gochnour:
It’s huge. I mean, it depends. So if it’s a new dentist, you’re really dialed in on what loans they have on their balance sheet. So if they have student loans, are they on federal student loans or have they refinanced? And if they’re on federal, what federal program are they on? And if it’s a repay or an IVR or ICR plan, then we want to know what their payment is right now. And it’s important for us to know all the different tranches, the different interest rates. And we have to have all that data in order to understand when is it a good time to refinance, if so? And for a more established maybe practice owner, who’s got maybe four or five, six, seven business loans, whether it’s equipment loans or different practice loans or seller financing type stuff.

Ryan Isaac:
Real estate.

Will Gochnour:
Real estate. We are having to gather the original loan documents, hopefully because we build an amortization schedule for each loan. So we’re gathering the primary loan, the original loan amount, the interest rate, the start day, the number of payments. It’s just, we got to get all the data. Without all the data we can’t understand how to create maybe a debt payment calculator and understand like, if debt is important to get paid down to this client from a philosophical perspective, we got to know the numbers so that we can make that happen.

Ryan Isaac:
Yeah. So that the math kind of like backs up the decision to pay that down. And I’m thinking, so our firm for everyone listening, we’re what’s called a fee only fiduciary. It means that we get paid for our time in transparent fees. And it means that we do not sell any kind of financial product or earn any kind of financial commissioner kickback. How this is interesting is in our financial planning model, we have 12 main financial subjects that are broken down into each month. Each month has its own subject. You can see this all at the website, dentistadvisors.com, then go find the elements tab, you’ll see this all. But what’s interesting about the things you’re saying loans specifically. And another month that we spend a whole 30 days on insurance. We do not get paid to sell insurance. We don’t get paid to refer insurance.

Ryan Isaac:
We get nothing from insurance and same with loans. We don’t get kickbacks. We don’t get paid to do loans. We don’t underwrite, originate. We don’t get paid to refer them out, but we spend two whole months every year on those two subjects. And it’s kind of crazy how much you know about a client’s debt situation and what they should do with it versus anyone else in a dentist’s life at the time, including really informed people in their life, CPAs, attorneys, consultants, the lenders they’re working with. It’s just crazy how much you know about those subjects. And you don’t even sell the stuff. It’s kind of crazy to me. So an associate advisor gets the chance to practice for quite a while on delivering advice with the real actual data and then of course gets delivered through. And I got one more thing.

Ryan Isaac:
We’re going to take a break and come back and talk about your experience with some of the clients you’ve been working with and the things they go through and some of the challenges you’re finding with the clients you’ve been working with. But one thing that just comes to mind for our listeners is that one of the reasons that people hire us to do this job is all the stuff we’ve been talking about, which is none of this stuff takes a genius to pull off, right? No offense, Will. I think you’re very, very intelligent human being.

Will Gochnour:
My nickname is Brain.

Ryan Isaac:
Your nickname is Brain. The issue is that what it does take is an incredible amount of time, attention to detail, and some kind of a base knowledge about what to look for and what a red flag is. And the problem and the reason we exist is because the more successful a dentist becomes, which is the whole goal of their career, the less and less time they have on their hands. And when that happens, things fall through the cracks. And so when you look at an entire financial situation of just knowing what to do with your loans, like a lot of people go like, “Oh, I think I want to get out of debt. I’ll just start paying off debt.” But really the real job to do that is to probably spend a dozen hours in a year gathering and analyzing the data and backing up your decision with math and numbers and data first.

Ryan Isaac:
Right? So that’s why people hire other humans to do the work is because it’s very, very tedious and probably boring to most people and time consuming. So anyway, let’s take a quick break and when we come back, we’ll talk about your clients that you’re working with, some of the things you’re seeing younger dentists go through and the advice you’re giving them, and we will come right back.

Ryan Isaac:
We wanted to take a break for just a second and remind you how easy it is to book a free consultation with one of our dental specific advisors. What you do is you go to dentistadvisors.com and you’ll see a big green button that says book free consultation.

Reese Harper:
Can’t miss it.

Ryan Isaac:
Click that button and book a time that works for you. Or you can just call us at 833-DDS-PLAN. Let’s start a conversation about we can help you with your finances.

Ryan Isaac:
So you mentioned a few of the things that your clients are, maybe a few themes that they’re dealing with or questions or issues that are most common. What are some of the things that some of these people are dealing with the most that makes them, and I guess what’s the connection between what they’re dealing with and what made them want to reach out and eventually say, “Yeah, you do this job for me. I need you to do this”?

Will Gochnour:
Yeah, no. It’s a great question because I think maybe there’s a lot of listeners out there that are resonating with this. I feel like I got asked a lot like, “Do I need to hire a financial advisor? Is it the right time to hire a financial advisor? I just got out of school. I’m in all this debt. I’m making some money, but it doesn’t feel like great money and I’m saving some money every month, but I just don’t know what to do with it. And I need to know is it a good time for me to engage with somebody or should I just start saving my money in cash? Or should I start paying off this loan?” And as the client continued to talk, it became apparent that all these questions are legitimate questions. Do I pay off loan or do I pay off my student debt or do I save my cash or do I start investing? How much cash do I need if I want to buy a practice and different questions like what do I do with insurance?

Will Gochnour:
And what kind of insurances do I get? And it’s all these questions that somebody’s got to figure out, whether it’s Google or a financial advisor or your friend or a Facebook group, you got to get this information somewhere. And so for us, the way we’ve structured our business and our pricing model and everything, it’s really open and available for anyone as new of a dentist as you could be, you could fit into our pricing model and service model at some point, so that you can get good advice. And I think that’s intentional because we really believe like you can’t wait five years until all of a sudden you’re getting advice on your finances. By then, you’re going to have missed the boat, or at least made some non-optimal decisions potentially with your finances.

Ryan Isaac:
So I’m curious, I won’t put words in your mouth. I have an opinion on this too, but if you said a younger dentist chooses not to hire a financial advisor early in career, what do you think the bigger risk is, that they ended up getting bad advice to implement or that they end up doing nothing and kind of just floundering?

Will Gochnour:
I would say, well, probably two fold, but I would probably say the latter is more…

Ryan Isaac:
Bigger risk?

Will Gochnour:
Yeah. The more, the bigger risk, just like…

Ryan Isaac:
Or more common.

Will Gochnour:
Yeah. Just being stagnant, like saving money in cash because you kind of in the back of your mind, you know like, “Oh, this student loan’s too big to even make a dent in it. I’m just going to say some cash right now.” And then next thing you know, which is not a bad thing. There’s worse things you could than just save your money in cash and liquidity.

Ryan Isaac:
Has its place.

Will Gochnour:
Yeah. That has its place for sure. And definitely part of a plan we would want to see some liquidity for sure. But I think that the word non-optimal would be maybe what you could say, that where there’s other things you could be doing that would make it so that better situations will be in place. And then of course, new dentists are going to be targets for sales, products and insurance products and things that seem like good ideas. And maybe they’re just a little misguided as to trying to help the dentist prepare for their future when maybe it’s not the right time for a certain life insurance product or a certain mutual fund or something like that.

Ryan Isaac:
Yeah, I would have said the same thing. I think there’s on our website, you can search for this. We have a cool PDF called “The 7 Big Mistakes Dentists Make That Delay Retirement.” If I had to sum up the biggest mistake I think all dentists of all career stages make in their entire lives, I think it’s mostly just, we’ve described it before as random acts of finance where you don’t have any, you have like random advice kind of just coming in. You got a Facebook group here, you got a buddy over there and you mostly do nothing, but they need to do a few little things and they’re not really related. They’re more based on like, how did you feel in the moment you made that decision? Like one month it’s chuck 20 grand at alone, the other month it’s buy a boat, the other month it’s sell all your stocks. They’re random, not related, not connected, not driven towards a unified purpose.

Ryan Isaac:
And then it’s just a whole lot of nothing with interspersed little random acts. But we do unfortunately bring on clients who have been misled and have made some really large mistakes too. So yeah. I agree. I think it’s really important to try to seek out good advice early in career on that. Is there anything that stands out lately, anything you’ve worked on with some of these newer career dentists, new owners that seems to be a theme of maybe everyone’s struggling with this thing or has the same question or worry?

Will Gochnour:
Yeah. I mean, one of our kind of philosophies is that, and I think most dentists know this and so this is not going to be like a big epiphany-

Ryan Isaac:
Big revelation.

Will Gochnour:
Yeah.

Ryan Isaac:
Breaking news. You heard it here first on the Dentist Money Show.

Will Gochnour:
Yeah. I think we make a billboard and a bumper sticker and just go with it. But I think that one of the themes we say is that practice ownership is the vehicle and the engine that’s going to drive your lifelong wealth as a dentist. And so that’s kind of the framework that we use for a lot of aspiring practice owners when we’re making their financial plan out front, because we don’t want to do anything that jeopardizes delaying practice ownership. And that can mean a number of things, but that involves where we save your money, the way we treat your debt and whether or not we’re going to try to refinance or leave it on repay for the time being. And so this is why I really love the fact that we work with human beings and every single plan we make and strategize every strategy we put together is different. There’s no one size fits all.

Will Gochnour:
Every client’s got a different plan, even if they’re the exact same income level and even if they worked in the same office and made the exact same amount of money, they would have different plans because there’s two parts to a financial plan. There’s the emotional, philosophical, mushy gushy goal-driven side. And then there’s the numbers, math, data-driven side.

Ryan Isaac:
Mushy gushy. I like that. That’s in textbooks in CFP curriculum, mushy gushy. I like that.

Will Gochnour:
We’re making a serve of mushy gushy.

Ryan Isaac:
Mushy gushy.

Will Gochnour:
Yeah. So anyways, that’s kind of what I like. I think it’s really important to understand the context of somebody’s life, because I have clients who are going to be lifelong associates and their decisions are different than clients who are wanting to become practice owners as soon as possible. So just kind of the answer we always give is it kind of depends because it does. It depends on your life. It depends on what you want. It depends on what you want to do and your goals, and there’s not like a open a Roth IRA and run with it type answer, which happens to a lot of people when they just get one off advice.

Ryan Isaac:
Okay. Well, let’s wrap this up here. Will, is there any parting words of advice, of Brain’s wisdom that you would like to tell anyone listening, anyone on the fence of hiring an advisor or just feeling nervous about making financial decisions, anything you would give them to part ways here?

Will Gochnour:
Well, a couple of things. I just think, it’s never a good time to organize your life and it’s always easy to push off those kinds of things, but organization in your financial life is just going to be so crucial going forward. And if you can consistently track what you’re doing, stay accountable to another human on things that are happening in your financial life. The difference that those little changes will make is going to be huge in the long run, I think. And so I just think like, why wait really? The best day to invest your money was yesterday and the second best day is today. Right?

Ryan Isaac:
Yeah. Say that about getting organized. When’s the best day to start getting organized? Oh, yesterday. Yeah. What about saving yesterday?

Will Gochnour:
If you’re going to organize your garage or your financial life or your journal or whatever it may be. So it’s just-

Ryan Isaac:
Get it done.

Will Gochnour:
Yeah. Get it done. And we’re here to help and we’re happy to take that part of your life off your plate and make it a little easier for you.

Ryan Isaac:
Very cool. Will, thank you for joining us, sitting in the hot seat. Just so everyone knows, Will didn’t get a sheet of bullet points here. We’re just like, “Hey, we’re going to put you on the show and you have to speak to all of our awesome loyal listeners and bunch of clients about Dentist Advisors.” So thanks for being here.

Will Gochnour:
My palms are like-

Ryan Isaac:
Palms are sweaty.

Will Gochnour:
Sopping wet.

Ryan Isaac:
There’s no visible mom’s spaghetti though, so we’re good. To everyone listening, thanks again for joining us. We always just love and appreciate the support. And this is why we continue to do this is for everyone that tunes in and thanks for doing that. If you have any questions that you’d like to run past an excellent, wonderful human being like Will, then go to our website, dentistadvisors.com, click on the book free consultation link, and find a time to chat with one of our advisors. If you have any questions you’d like to just post in our Facebook group, we’ll get in there and answer it pretty quickly and sometimes we use those topics for future podcasts and that’s dentistadvisors.com/group. So thanks again, everyone for joining us today. We’ll catch you next time. And since Reese isn’t here, I will just say this for him. Carry on.

Ryan Isaac:
All right. My thanks to Will “Brain” Gochnour, friend and advisor at Dentist Advisors, for taking some time, walking us through his path with Dentist Advisors. I will say it’s been awesome to have him around. And there are a lot of clients who would agree with me to the same effect. So thanks again to Will. Thanks for tuning in.

Ryan Isaac:
If you guys have any questions, would like to chat with one of our very friendly and knowledgeable and expert Dentist Advisors, go to dentistadvisors.com, click on the book free consultation button and schedule a call. Maybe you’ll even get Will on the phone, which would be fantastic and good for you. Thanks for tuning in. Thanks for joining us. Hope you enjoyed the show. We’ll catch you next time.

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