Purpose. Prosper. Thrive.

You’ve arrived. It’s time to make the most of your rewarding career – join more than 7,000 medical professionals who already rely on DPM’s 50+ years of experience as medical financial advisors.

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.

Why DPM?

“I can thoroughly recommend my DPM Consultant who has been my accountant for the last 17 years. She has provided honest, supportive and thorough advice and accounting skills as I have moved from hospital only to largely privately centred practice.”

Louise – Obstetrician,
Private Practice, VIC

“My DPM Consultant has been outstanding for me since I was an intern, with excellent accounting knowledge specific to the medical profession. He has always been very helpful in answering my questions, and explaining the financial implications as my income situation has progressed over the years, in a very friendly and professional manner.”

Daniel – Radiologist

“As a psychiatrist who has spent a lifetime working with emotionally vulnerable people I must express my appreciation of the sensitive, empathic and responsive manner in which your team conduct their work. No matter what happens with any current or future (hopefully not) insurance claim, it is reassuring to have you involved.“

Gunvant – Psychiatrist, St Vincent’s Hospital

Purpose. Prosper. Thrive.

Trust in our experience and specialisation as medical financial advisors

Tax & Accounting

Personal Insurance

Private Wealth

Self Managed Super Fund

Lending

Property Advocacy

Legal services

Why DPM?

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