MedCentric Financial Network Selection Criteria for Financial Advisors
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July 24, 2024

Advisor Selection Criteria

MedCentric Financial Network's advisor selection criteria and review process form the foundation for fulfilling our mission of providing high quality, fee-only financial advisory services to healthcare professionals. Only advisors who meet our stringent criteria are considered for network membership.

Credentials & Experience - Member advisors must demonstrate that they have undergone in-depth training and competency testing in financial planning and investment management. At least one staff member from each firm must hold the Certified Financial Planner™ designation. Many advisors hold other degrees and designations, including the following:

Certified Public Accountant (CPA),
Chartered Financial Analyst (CFA)
Master of Business Administration (MBA)
Doctor of Philosophy (Ph.D.)
Juris Doctor (J.D.)

Advisory firm principals must have at least seven years of experience, with most advisors having worked in the field for over 15 years.

Ethics and Compliance - MFN affiliated advisors are bound by the Code of Ethics developed by the Certified Financial Planner Board of Standards. Each advisor's history of compliance with SEC and State Department of Corporations regulations is carefully evaluated as part of the selection process.

"Fee- only" Compensation - Network advisors are compensated on a “fee-only” basis when working with referrals from MFN. Fee-only compensation aligns the interests of the advisor with those of the client, and avoids the potential conflicts of interest, high costs, and sales incentives that may accompany commission-based services.

Cost Effectiveness - Measures to promote cost effectiveness are embedded at multiple levels in MFN's selection process. We screen advisor's fee schedules to ensure that they are consistent with regional norms, and have negotiated a 10% discount on all comprehensive financial planning services offered through the network.

Independence - Each network member advisor operates as an independent entity. Without the limitations imposed by an overarching corporate agenda, our advisors can remain objective and flexible in tailoring financial solutions to each client's needs.

Asset Management Practices - Participating advisors offer fee-only asset allocation and portfolio management services focused on long-term risk adjusted returns.

Commitment to the Financial Planning Process - Financial planning provides the foundation needed to achieve financial success. Candidate advisors are evaluated on the degree to which they emphasize financial planning as the cornerstone of the client-advisor relationship.
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