Healthcare focused RIA extends reach with new practice group

A Florida based registered investment advisor that focuses on the unique financial needs and challenges of the healthcare industry, specifically practice owners, is extending its services.

Econologics Financial Advisors will now also serve practice associates across a range of healthcare fields, addressing the specific financial goals and requirements of these healthcare professionals.

The firm has created resources and financial planning solutions for this niche – but significant – market which includes veterinarians, optometrists, physical therapists, dentists, and other healthcare practitioners.

"At EFA, we understand that Practice Associates in the healthcare sector have specialized financial needs. Our new service offering is a proactive approach to equip them with the necessary tools and insights to succeed financially, both personally and professionally," said Eric Miller, chief financial advisor and co-owner of the firm.

The firm helps healthcare practice professionals to build a profitable business, grow their household wealth, save for retirement, and plan to leave a legacy, using its proprietary financial planning system called Econologics.

The healthcare sector’s additional burden during the pandemic is still being felt by many and earlier this year Erika Safran, founder of Safran Wealth Advisors, shared with InvestmentNews why she chose to focus on the healthcare sector with her wealth management practice.

“I was told once by business coaches that, without question, focus on a niche, but that doesn't mean that you should put all other clients off your radar,” Safran added. “Focus on what you enjoy doing, but serve the other clients as well, who you want to work with. So, that's how that really developed.”