Dental Practice Report selects Rick Epple, CFP® as a “2013 Best Financial Advisers For Dentists”

Posted on April 23, 2013 by

Epple Financial Advisors, LLC. is pleased to announce that Rick Epple, CFP®, has been selected by Dental Practice Report magazine as one of the “2013 Best Financial Advisers for Dentists” list in their April 2013 edition.  Mr. Epple is one of only five financial advisors in the State of Minnesota to be included in this year’s rankings and is his third straight year of being named to the list.

Candidates were selected to the list based upon knowledge and experience, geography, and in good standing with no disciplinary action against them through the Securities and Exchange Commission, Certified Financial Planner Board of Standards Inc., and Financial Industry Regulatory Authority.

Mr. Epple has been very involved in helping dentists including as a co-founder and member of the Northern Dental Alliance (www.NorthernDentalAlliance.com).   “Our dental alliance was conceived as a resource for dentists. Each member was looking for a way to attain long-term and overall success for our dentist clients. Personally, I wanted to both assist dentists in achieving their personal financial goals and have the resources readily available to enhance the business and professional side as well. Linking with dental experts in many areas makes that possible.”

Epple Financial Advisors provides comprehensive, Fee-Only financial planning and ongoing wealth management services for families, small business owners and dentists who are looking to delegate some level of responsibility for managing their financial affairs. Simply, Epple Financial Advisors help our clients achieve financial independence quicker than they would on their own.

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Shredding Event – April 20

Posted on April 9, 2013 by

Shredding Event:  Please mark your calendar for Saturday, April 20 for our clients and friends to bring their documents for onsite shredding.

Details below and by clicking here: (http://epplefinancial.com/files/2013%20EFA%20Shredding%20Event.pdf)

Epple Financial Advisors is hosting a FREE shredding event on April 20th. We will have a local shredding company on-site to destroy all your confidential documents.

Come Rain or Shine!

You are welcome to invite your family and friends to participate in this event.

Date: April 20, 2013

Time: 9:00 a.m.—12:00 p.m.

Location: 801 Twelve Oaks Center Drive Parking lot

Come enjoy a cup of hot coffee after you drop off your documents to be shredded at the drive thru drop-off location.

We Hope to See You on April 20th!

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Don’t Lose Business to Virtual Advisers

Posted on April 2, 2013 by

“Don’t Lose Business to Virtual Advisers” was written by Veronica Dagher from the Wall Street Journal. Rick Epple, CFP(r) was interviewed and contributed to the article about his experience with working with clients he had never met in person.  Click here for the article:  http://online.wsj.com/article/SB10001424127887323296504578398311665576302.html

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Credit Score

Posted on March 19, 2013 by

As a member of NAPFA, I received the following email with a link that allows a person to check their credit score.  I tested the service and I like that you can actually get a number to compare and it is free.  Since your credit score can impact insurance costs, job searches, etc., it is wise to know your score and then take action to improve if necessary.

Credit.com‘s Credit Report Card is a free tool that provides consumers with a simple, clear translation of their credit file, including their credit scores. It’s particularly useful for people who may have had trouble decoding their credit reports. It’s designed to provide a foundation for understanding credit more broadly, which ultimately enables a deeper dive into a subject which many people find very confusing.

The Credit Report Card helps consumers:

  • See where they stand
  • Discover how they compare to      relevant populations
  • Find out what they can do to      maintain healthier credit
  • Make smart credit and financial      decisions

The Credit Report Card includes:

  • Experian credit score and estimated FICO and Vantage scores
  • Credit grades for the five key elements that make up your score
  • Comprehensive, expert-driven credit content to help answer questions and better manage your credit and finances
  • Data comparisons to help you see how you compare to others in your community and throughout the country
  • Free monthly updates

Credit.com is making the Credit Report Card available to all NAPFA members to help them advise clients on their credit situation and how it impacts their overall financial plan. To access the Credit Report Card tool, click HERE.

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Shredding Event – April 20

Posted on March 5, 2013 by

Shredding Event:  Please mark your calendar for Saturday, April 20 for our
clients and friends to bring their documents for onsite shredding.

Details below and by clicking here: (http://epplefinancial.com/files/2013%20EFA%20Shredding%20Event.pdf)

Epple Financial Advisors is hosting a FREE

shredding event on April 20th. We will have a local

shredding company on-site to destroy all your

confidential documents.

Come Rain or Shine!

You are welcome to invite your family and friends to

participate in this event.

Date: April 20, 2013

Time: 9:00 a.m.—12:00 p.m.

Location: 801 Twelve Oaks Center Drive Parking lot

Come enjoy a cup of hot coffee after you drop off

your documents to be shredded at the drive thru

drop-off location.

We Hope to See You on April 20th!

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Premium Increase – Long Term Care Insurance

Posted on February 19, 2013 by

For those who have considered purchasing Long Term Care Insurance, I want to share information I received from one of our referral partners regarding premium increases coming in April.  We encourage all our clients to consider long term care insurance as an important component of their overall plan.

From Mark Maurer, Low Load Insurance Services:

In mid-April, Genworth, a leading provider of long term care insurance (LTCi), expects to introduce re-priced Long Term Care insurance premiums.

The biggest changes will apply to single females, with rates as much as 40% higher than the current unisex rates.

The move is designed to better reflect the risks involved in covering women who are paid two out of every three LTCi benefit dollars, often because they live longer and have no caregivers at home, according to the American Association for Long Term Care Insurance, a trade group based in Westlake Village, California.

Another major change: The company will begin requiring a paramed exam (like life insurance) for all long term care insurance applications, adding layers of both complexity and time to the process of issuing an LTCi policy.

Insurers in general are getting tougher about applicants’ health. The paramed exam will include a blood test, which will confirm what applicants report about nicotine and drug use. And it will allow the company to consider some indicators of cardiovascular disease and stroke, the insurer‘s number two morbidity cause after cognitive issues.

Both moves — charging different premiums for men and women, and requiring blood work — would bring underwriting for long term care insurance more in line with current underwriting practices for life insurance, according to Genworth.

What won’t change: Male rates are expected to remain relatively unchanged. And couple discounts are expected to increase to compensate for the higher female premiums.

Genworth has applied to all states for these rate changes; to-date, approximately 30 have approved the mid-April increases.

Also important to note: We have seen that the major LTCi players mirror each other quickly (very recently, the elimination of lifetime benefits and suspension of short-pay options). When the sex-distinct rates and paramed exam requirements become effective for Genworth, we believe the other major carriers will follow suit … and soon.

Your clients: If you have single female clients considering LTCi, or clients for whom the paramed exam may be a concern because of existing health issues, we’d recommend you contac Jill MacNeil now.  Email:   jillmacneil@LLIS.com

2907 W. Bay to Bay Blvd. | Suite 102 | Tampa, FL 33629-1706 | Toll Free: 877-254-4429
Local: 813-902-0002 | Fax: 813-902-0007 | www.LLIS.com

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Student Presentation – Epple Financial Advisors

Posted on February 4, 2013 by

The Northern Dental Alliance had a lunch and learn with Dental Students from the University of Minnesota.  The following is my response to a question:

I just started my career as a Dentist and I am deeply in debt.  Where do I start to get my finances in order to position me for owning my own practice and for the long term ?

 

The following list will assist you in getting started:

 

Obtain Disability Insurance – Individual not group coverage:  The first to do on your list is to put in place a high quality individual disability insurance policy that you can increase as your earnings increase.  Your biggest asset is your earnings ability.

Build Cash Reserve:  In order to purchase a practice, you will need to have in place about six months of cash reserves to get you started and to qualify for practice loans.  Setup a monthly auto purchase into a FDIC insured savings account like ING Direct to build the account.

Pay down Debt:  Your first inclination may be to pay down debt as quickly as you can.  It is much more important to have the cash reserve in place and even begin to save for your retirement.  I recommend you pay your bills on schedule and at the amount due to build a good credit rating while maintaining flexibility.

 

Avoid the big purchases initially:  I recommend you hold off buying the fancy car and/or big house until you have a better handle on where you will end up for the long term.  Not buying these big ticket items will help maintain flexibility and better position you to buy a practice.

Begin Saving for Retirement:  If your employer has a 401k plan, at a minimum, save enough to earn the full company matching contributions.  This is “free” money you don’t want to lose. In order to achieve financial independence, starting early will help you greatly on your path.  If you are buying a practice, make sure you look to establish a 401k plan to help with your own savings and to lower your tax bill.

For more information, contact: Rick Epple, CFP®  at Epple Financial Advisors, LLC.

P. 952-470-5049 or Rick@EppleFinancial.com or www.EppleFinancial.com

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