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Financial Planning Firm works with Dental Professionals Only

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Moffat Financial Group pays tribute to founder’s financially-failed dentist father
Posted: August 29, 2008
Clark Moffat headshot 2 (WinCE).jpg
Financial Planning Firm works with Dental Professionals Only
 
Moffat Financial Group pays tribute to founder’s financially-failed dentist father
 
Vista, CA
 
For Immediate Release
 
Inspired by decades of watching his dad’s futile, unwise investments, Clark Moffat has built a career as a financial advisor specializing in counseling dental professionals.  He is the founder of Vista, California-based Moffat Financial Group (www.moffatfinancialgroup.com), a boutique planning firm that helps clients maximize financial success now and throughout retirement.
 
Clark Moffat notes “My father Gordon was a dentist --  40 years in solo practice, grossing nearly $2 million a year.  Yet he invested haphazardly –– a dairy farm that lost millions, for example –– prizing tax benefits above all else and figuring he could always make more money.”  An unexpected heart attack forced Gordon’s retirement, and he never recovered, financially or emotionally, heartsick at having to accept financial help from his children.
 
Dental professionals face a unique set of factors that create the potential for a poorly funded retirement.  Moffat laments “You get just one class on practice management in dental school.  School teaches you how to make money, but not what to do with it.”  In many practices, the high cash flow in relation to overhead can create a false sense of security.  The lesson to be seen in Gordon Moffat’s financial trauma, Clark says, is that “being a good doctor does not necessarily mean you are a good investor.”  
 
Gordon’s story isn’t unique – or the product of a bygone era.  Even today, with heightened awareness of the need to invest for retirement, thousands of hard-working, successful dentists are at risk for retirement disaster.  Most of the recent news about financial firms focuses on their disarray, and leads to distrust of the industry as a whole.  On the other hand, the media hype over do-it-yourself plans and $8 trades leads to distrust of ourselves, especially in a bad economy.
 
Clark Moffat stresses education in financial planning, and has been teaching at local colleges for years.  He attributes his emphasis on education to his father, who always presented CE classes at dental meetings.  Family-owned and operated since 1980, Moffat Financial Group can be contacted at http://www.moffatfinancialgroup.com or 800-999-6001.
 
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