Grow Your Dentistry

If you own a dental business, you likely want to devote your time to providing your customers with quality services—not the time-consuming efforts of keeping up with business operations or financial decisions.

Receive Guidance Through the Dental Business Process

Our financial advisors at Greater Midwest Financial Group are highly experienced in the dental industry.

We’ll help you stay on track by providing you with valuable financial advice for your dental business, so you’re positioned for growth and success. We’ll help manage your finances, keep watch over the viability and structure of your business, and coordinate your personal and business planning, so you can keep the focus on your customers.

Dental Professional Services

  • Coordinate Business & Personal Planning: How can I keep my financial life organize when if I am not working, I am not making money. Is there someone that would put my interest first and be experienced enough to help me maximize the professional and personal resources? We understand taxes, retirement plans, employee benefits, wealth management and business planning as it relates to both our personal and business life.
  • Wealth Accumulation & Preservation: As a Dental Professional I know that if I am working on a patient I am making money. But how do I make sure the money I make is working for me? What kind of retirement plan should I have? Where else can I direct excess cash flow? How do I minimize my taxes? GMFG has been working with dental professionals for 35 years helping them maximize their resources so they can accumulate the wealth they need for retirement. We work hard to preserve and grow your assets so you better meet your retirement and other asset purchase goals.
  • Benefit Plan Consulting including Key Person Retentions Strategies: I am having a good year but what if one of my key employees quits? I am not a human resource manager, but some days it sure feels like it. At GMFG we help our dental professionals put in place the benefit package they need to attract and retain quality employees. We can provide with “time” by helping you implement and monitor this benefit package so you don’t have to.
  • Retirement Plan Consulting: I heard one of my colleagues from dental school closed his retirement plan because it was so confusing. I don’t think I want to run into that same problem. I wish I had someone I could trust that knew my business and what is best for me. At GMFG we don’t take your trust and confidence for granted we earn it every day. We work hard each year to determine how you should maximize the retirement plan you have while looking ahead to determine if any changes are needed. As fiduciaries of your retirement plan, we take our job seriously.
  • Business Succession Strategies: I can’t believe that the young people really don’t want to be business owners. How am I going to sell my business? What can I do now to better position my company so it attracts the few young professionals who are interested in buying a practice? This is very overwhelming to tackle on your own no matter how many seminars you go to. But who do I work with? I get approached by tons of “consultants”. Again, at GMFG we have been working on helping dental professionals maximize the value of their practice for decades.
  • Tax Planning: Coordinate your personal and business tax planning needs.

Case Studies for Our Dental Professional Services

See our dental business services in action in these real GMFG case studies.

  • Case Study: Preparing for the future while owning a dental business.

  • Scenario:

    An experienced dentist who owns their practice wants to plan for the future. They’re married with kids and have a simple IRA plan in place for their employees. They have questions about long-term transition planning for their dental business, retirement planning, purchasing a second home and funding educations for their kids.

    Solution:

    By taking a close look at their client’s big-picture goals, GMFG helped them construct a strategy for exiting their business in the future, which involved hiring an associate dentist with an option to buy the practice down the road. The future buy-out was structured so tax impact would be optimal for the seller and buyer and so the plan would fit in well with their retirement and income planning.

    GMFG also helped them adopt a 401(k) / profit-sharing plan to minimize their taxes while they’re in a high tax bracket and help them save more for retirement. Additionally, we helped them establish tax-efficient 529 plans to save for their kids’ college educations, and we helped them construct a plan to purchase a second home where they’d spend time in retirement.

    The hypothetical case study results are for illustrative purposes only and should not be deemed a representation of past or future results. This example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required for some investments. No representation is made as to the accurateness of the analysis.

  • Case Study: Starting a new dental practice.

  • Scenario:

    A recent dental school graduate is starting their own dental practice and wants to know the best way to run their business.

    Solution:

    GMFG helped the new business owner look over business structuring options—S Corp, C Corp, LLC or Sole Proprietor—and choose the best structure for them. We also discussed ways to minimize taxes through depreciation on equipment and by establishing a retirement plan. Finally, we helped them design compensation packages that would incentivize and retain key dental hygienists and other staff members within their dental business.

    The hypothetical case study results are for illustrative purposes only and should not be deemed a representation of past or future results. This example does not represent any specific product, nor does it reflect sales charges or other expenses that may be required for some investments. No representation is made as to the accurateness of the analysis.