Physicians’ association enlists NAPFA to create advisers’ network

The Chicago-based MD Preferred Service Network, which represents more than 831,000 physicians, is entering into an alliance with the National Association of Personal Financial Advisors to create the MD Preferred Financial Advisor Network.

The Chicago-based MD Preferred Service Network, which represents more than 831,000 physicians, is entering into an alliance with the National Association of Personal Financial Advisors to create the MD Preferred Financial Advisor Network.

It will offer the physicians access to NAPFA’s fee-only advisers, the Arlington Heights, Ill.-based association said in a statement.

“Advisers who are affiliated with NAPFA demonstrate a commitment to the highest of ethical standards — a commitment only a fiduciary can make,” Michael O’Malley, president of U.S. Medical Specialties Inc. of Tampa, Fla., which owns MD Preferred Network, said in the statement.

The MD Preferred Service Network offers resources to physicians across a range of professions, including real estate, relocation services, mortgage brokerage and legal services.

NAPFA-registered financial advisers who participate in the program will be allowed to display a network medallion on their websites and any marketing materials.

“We are thrilled MD Preferred Service Network recognizes the importance of fee-only compensation and a fiduciary standard in financial advice and approached NAPFA about being the exclusive partner in this program,” Ellen Turf, chief executive of NAPFA, said in the statement.

Physicians interested in hiring an adviser who is part of the program can go to mdpreferredfinancialadvisor.com.