Ep8: Financial Advisors Exposed — 7 Steps to Hiring the Right Advisory Team

In a re-released and highly relevant episode, James Nutter exposes the hidden realities of the financial advisory world. Drawing from his experience and past features on the Financial Residency Podcast, he outlines 7 key steps every physician should follow when hiring a financial advisor.

You'll learn why not all financial advisors are created equal, what the different licenses mean (Series 6, 7, 63, 65, 66, and CFP), and how to distinguish between transactional, reactive, and proactive advisors. James also explains why working with a fiduciary—especially one who specializes in physicians—can protect your financial future.

Whether you're looking to delegate, get coached, or go full-DIY, this episode will arm you with the knowledge to make informed, empowered decisions.

Top 3 Key Takeaways

1. Understand Advisor Types: Know the difference between transactional, reactive, and proactive advisors—and which one best fits your needs.
    
2. Licenses Matter: The license an advisor holds affects how they’re compensated and whether they’re legally obligated to act in your best interest.
    
3. Specialization is Key: Physicians should work with advisors who specialize in their unique challenges—like student debt, contract negotiation, and asset protection.

Resources & Next Steps:

• Download the PSLF Hacks Checklist
• Book a free financial wellness session with James
• Get access to exclusive physician financial tools at www.imwealth.com
• 1% of IM Wealth’s revenue is dedicated to providing scholarship funds to medical students. Learn more about the Meaningful Journeys Scholarship and how you can join the fight here.
• Learn more about the impact IM Wealth is making in the lives of physicians here.
• Gain FREE immediate access to all of IM Wealth’s exclusive physician financial wellness resources here.

 

About the Show:

This isn’t just another finance podcast—it’s a movement. We’re challenging the status quo, cutting through the noise, and giving physicians real strategies to take control of their money and their future. 

Because true wealth isn’t just about numbers—it’s about freedom.

Find and follow the show on YouTube. 

 

About James Nutter:

James Nutter is on a mission to help physicians reclaim their financial power. With a deep understanding of the unique challenges doctors face, he provides real-world strategies that cut through the noise and lead to lasting financial freedom.

Follow James on Instagram. 

A Physician’s Guide to Wealth Podcast — Brought to you by IM Wealth: Helping physicians take control of their money so they can live a purposeful life.

For more resources, visit IMWealth.com.

Advisory services offered through Commonwealth Financial Network®, a Registered Investment Adviser.