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Trust in our experience and specialisation as medical financial advisors

Our clients come to us at different life stages – graduating, starting a family, post-graduate training, building wealth and assets, managing business and retiring. We understand their challenges before they do. We know what lies ahead for them, and for you – as a doctor and as an individual.

No matter what your specialty, when you become a qualified consultant, your financial and personal needs change. At DPM, we partner with you to align your professional and financial obligations with your personal goals.

Our mission is to help you reap the rewards you deserve. We use language you can grasp to guide you through informed choices and smart financial decisions. You get the control, the understanding and the benefits.

Tax & Accounting

As a doctor, tax and accounting may not be a high priority. But you can’t ignore it. If you earn an income in Australia, you must pay taxes and every year at tax time, you need to go through the complicated process of lodging a tax return with the ATO.

You can meet your obligations in a variety of ways:

DIY – using your own knowledge, time and tools available online and via the ATO.
Tax Accountant – using the services of an accountant or accounting firm that specialises in tax returns who may or may not understand the distinctive challenges of medical accounting.
Specialised Medical Accountant – using medical financial advisors like DPM that specialises in both tax returns for doctors and providing medical accounting advice to help you fully integrate your financial life, all in one place.

Taxation and accounting are highly regulated, ever-evolving industries. As you progress through your career, and potentially become a high income earner and business owner, the complexities of taxation and medical accounting increase. The medical industry itself is complicated. You need relevant structures in place to meet your obligations, suit your individual circumstances and give you a continual high level of asset protection and taxation efficiency.

DPM tax consultants have years of experience and understand the challenges of your financial journey as a medical practitioner. Our specialised advice and expertise helps you legitimately minimise your tax in the future, enabling you to build wealth and achieve your financial goals.

Personal Insurance

Personal insurance is unlike any other insurance. It’s about insuring your biggest asset: you.

You’ve spent a long time studying, learning, perfecting. Now you get to finally enjoy practising what you love. Personal insurance can give you the peace of mind of knowing that, should something happen to you, all those sacrifices you made are not in vain.

There’s a vast array of insurers out there marketing Life Insurance, Income Protection Insurance, Business Expense Insurance, Total and Permanent Disablement Insurance and Trauma Insurance. How do you know you’re paying the right amount and getting what you need?

At DPM, we don’t simply answer this question and send you on your way. First, we’ll help you figure out whether you need personal insurance and, if you do, which insurer, product and policy best fit you.

Ask yourself these personal insurance questions:

If I suffer a medical crisis, do I want a lump sum of money?
If I suffer a disability that prevents me from earning my normal income, do I want a replacement income beyond my annual leave or sick leave?
If I die, do I want to leave any money to anyone?

Did you answer “yes” to any of these questions? Then you need personal insurance.

Your DPM insurance consultant will help you choose the right insurance product, review your ongoing cover and provide full assistance in the event of a claim. We’re able to deal with every insurer in Australia and give you advice on existing or proposed cover.

* The information contained in this site is general and is not intended to serve as advice. DPM recommends you obtain advice concerning specific matters before making a decision.

Private Wealth

Accounting/tax structuring and financial planning are two very different disciplines. Accounting looks at your income and assets in terms of your taxation requirements and obligations. Financial planning looks at your financial situation as a whole, assessing your position now and into the future and making recommendations to achieve your financial goals. Your accountant is not qualified or licenced to give you financial planning advice.

Just as you are a specialist in your particular area of medicine, our financial advisers are specialists in financial strategies to build your wealth over time. Our private wealth service complements your accountant’s advice and looks at different aspects of your finances:

investments (shares, property, cash/bond)
asset protection
estate planning
gearing strategies
superannuation strategies and/or Self Managed Super Funds
retirement planning

Are you asking yourself whether you really need professional financial advice? You’re capable and smart, and there are plenty of online DIY options for share trading and managing super. Think about people who Google their health symptoms and self-diagnose – it doesn’t mean they get the right diagnosis or treatment. It’s the same with online financial advice.

With expert advice from your DPM private wealth consultant, you’ll know you’re being guided by a professional focused on growing your wealth for the long term and helping you maintain peak financial health.

* The information contained in this site is general and is not intended to serve as advice. DPM recommends you obtain advice concerning specific matters before making a decision.

Self Managed Super Fund

Self Managed Super Fund (or SMSF) is essentially a DIY superannuation option. Is it right for you? It’s a tough question to answer without knowing your personal circumstances.

In fact, we can’t answer without reviewing your entire super position. Many things come into play when considering a SMSF. Asking yourself these questions can help you figure it out:

Am I interested in the legal responsibilities of being a trustee?
Having a Self Managed Super Fund means you’ll become a trustee of the fund, bringing with it the responsibility of administrative and reporting duties.

Do I have enough money in super to justify a Self Managed Super Fund?
A SMSF gives you transparency and control over how your money is invested but you’ll need to factor in the amount you currently have in super against the obligations you agree to carry as a trustee and whether it’s worth your while.

If you decide to know more about SMSFs or to become a trustee, know that you aren’t alone. While you remain legally and solely responsible over your investments, our Self Managed Superannuation Fund service team will work with you, your financial planner and your accountant to take some of that admin burden off your shoulders and ensure your SMSF remains compliant.

Lending

DPM’s lending service is one of a kind in the market and one of the most popular amongst our clients. As a doctor, you’re busy. You’re not living a nine-to-five lifestyle. Finding the time to research and compare loan rates, mortgages and different institutions is a huge time burden. Our lending service saves you time and stress by doing that work for you and acting as a preferred line of contact rather than you going direct to banks and other lenders.

The DPM lending team can provide you with comparisons across all major lenders complimented with specialist financiers to implement suitable and adaptive borrowing structures tailored to your individual situation. Because we leverage from strong relationships with lenders, we have access to a wide range of competitive and flexible structures that we will recommend based on your current circumstances and your longer-term goals.

Property Advocacy

Considering buying a house and unsure if you need a property advocate? Thinking it’s an expensive service and an added cost to the burden of buying a house?

A property buyer advocate can save you considerable time and thousands of dollars, while cutting weeks or months out of the complicated process.

The property market is full of costly pitfalls for non-professionals:

inexperience in reading the play when bidding at auctions
lacking understanding of property market conditions and misinterpreting sales data on which to form views on market value
revealing too much information to the agent who will play against you in later dealings
negotiating privately without the transparency of auction to be able to determine whether or not there is real and threatening competition

Your property advocate can be as involved and hands-on as you want or can manage your project end-to-end for you. You won’t waste time searching in the wrong place or for properties you can’t realistically afford. Your property advocate can help you find a suitable house within your price range and guide you to avoid over-capitalising, for example, on renovations.

DPM’s property advocacy service works on capped, flat rate fees. No matter how long it takes to find the right property, you won’t have to think about how much the service will cost.

Engaging a DPM property advocate gets you a highly professional and informed service and the confidence of purchasing the property you want at the right price.

Legal services

Are you thinking you only need legal advice when you’re in trouble? If so, you’re very wrong. Australia is one of the most heavily regulated countries in the world and, as a medical professional in private practice, you’ll be carrying on a business in that operating environment.

Have you thought about how employing a receptionist, secretary and/or practice manager exposes you to compliance with some of the world’s most complex employment law systems?

Your accountants and financial advisers may recommend you to set up certain business structures, exposing you to regulatory requirements of various areas of commercial law, tax law, trust law, asset protection principles and the like.

Perhaps you already have a business structure, are in business with colleagues or own real estate. Have you thought about what would happen to those interests upon your or your colleagues’ passing or permanent disability? To deal with such situations – and they do occur – you need to grasp the intricacies of succession law, trust law, property law, superannuation law and numerous other complexities and regulatory requirements.

Sure, you can muddle through and deal with things yourself – do some internet research, prepare your own contracts using templates (which may or may not fit Australian law), buy a will kit from your local post office or engage the local conveyancer to look after your property needs “on the cheap”. But why would you? You’ve spent years acquiring knowledge in your medical discipline. You’ve worked hard, and continue to do so, to accumulate assets for a comfortable retirement. Why would you waste your valuable time figuring out how to manage your legal compliance obligations? Couldn’t you better use your time to perfect your skills and gain further knowledge in your field of expertise?

This is where Fletcher Clarendon can help. They work day in and day out with the unique legal and regulatory requirements that challenge medical practitioners like you. They understand the complexities of the law – it’s their area of expertise. They can work closely with your DPM tax and financial consultants to take care of your legal needs, both business and personal, enabling you to focus on what you’ve worked so hard for – your medical career.

DPM Financial Services

5.0

The team at DPM have been exceptional in improving my financial literacy, especially as I transition through different stages of my career.I have the utmost trust in Sean O'Neill, who has been my consultant since internship. Sean has consistently provided clear and personalised advice. Tom Rogers and Katie Gray have recently facilitated income protection for me. Both a pleasure to deal with. Incredibly timely, and most importantly, simplified an otherwise opaque process for me. Thank you.

Visopiano Sanyü

04:55 16 Jun 20

I have been seeing an accountant at DPM since I graduated from university. Our annual appointment is always professional while also being a friendly catch up on the year. I have recently been assisted by a financial advisor to arrange income protection. The process was smooth and timely. I felt very well supported with plenty of information provided and they kept me up to date on the progress of my application. DPM is a friendly team and always very easy to get in touch with!

Sam Harvey

22:05 30 Apr 20

Excellent experience all-round! Accounting, finance and insurances all managed by friendly, capable and talented people and associated support staff. Always available to help and answer all sorts of questions. Highly recommend

Chetan Lodhia

10:04 30 Apr 20

I had a really good experience with DPM financial services. Tom and Katie were very helpful and efficient. They explained every step thoroughly and provided with best service. I would highly recommend DPM Financial services.

Mi Kyung Jun

01:47 02 Apr 20

William Indrawan and his team were very extremely helpful in helping me with my taxes - they were professional, efficient and very knowledgeable. It would have taken me so much time and dedicated research to find out what deductions you are allowed for your taxes as a medical doctor, especially coming from another country. The service was very personalized and such a pleasant personal interaction. And yes, I had a good tax return! Thank you!

Rachel Deschamps

09:52 22 Nov 19

I have been with DPM working with Aaron Burton for a number of years. My only regret is that we did not engage his services sooner. Aaron has been an excellent guide and advisor, who understands your circumstances and ensures we have made the right decisions at all times. We would recommend him and the services of DPM most highly

Natasha Michael

19:18 07 Nov 19

Delighted with the services received at DPM with Tom and Anthony. They were both knowledgeable in their respective fields and efficient at their work. Would highly recommend!

Pearly Gan

12:17 06 Sep 19

I have been with DPM for a couple of years. I first started by meeting my now accountant Anthony Pane and he has been wonderful in every single way. I was audited last year and I was able to relax and let Anthony do what he does best. Later I also got insurance advice from Mat, and Eyal has become my broker. Everybody in the team has been great and very helpful. Definitely recommend 👍

Liliana Sousa Nanji

01:05 30 Aug 19

I have had a very positive experience with DPM for the past 3 years. I always enjoy meeting with Anthony Pane who gives excellent advice and is a consultant I can highly recommend.

Sam Fraser

04:30 22 Aug 19

Provide fantastic support and advice, always in a swift manner. Very happy with their service.

Andrew Rawlin

11:07 15 Aug 19

Financial advisors with expertise working with medical professionals. Alyse is professional in all aspects of her work and communicates her wealth of knowledge in a clear and concise manner. With attention to detail and a personalised approach tailored to each individual, I always feel a sense of clarity after a consultation with DPM. Highly recommended.

Daniel Phan

11:10 02 Aug 19

I've been with DPM now since 2016 and have nothing but great things to say. Excellent advice and management of all my financial needs. And special shout out to Anthony Pane, who I can highly recommend.

Jason Bishop

07:46 02 Aug 19

Great service! I truly appreciate all the assistance and pleasant service rendered by DPM Financial Services with regards to the filing of my taxes. They were very helpful specially due to the fact that I have already migrated overseas during the period of filing. They kept constant communication and were very prompt to respond to all my enquiries. THANK YOU!

J.E.G. BRAVO

11:25 31 Jul 19

I have been a client of DPM for almost 2 years now, and they are a fantastic team that really do give you bang for your buck!My acountant has helped me navigate through the complex world of salary packaging, and has been excellent in completing tax returns each year. He doesn't just "do my taxes," he explains things and helps me understand concepts myself so as to calm the stress levels. When I wanted to apply for a home loan I was directed to a Lending Consultant who has been nothing short of brilliant. They are efficient, they are helpful and they are extremely approachable. I don't know how much money I would have wasted had I not had DPM's guidance. Definitely worth it!

Vanessa Roberts

05:19 25 Jul 19