Financial Professional for Opticians, ODs and MDs

[cmbrumbaugh]

Some feedback here would be great.
I am a 15 year optician with a family history in optics going back to my childhood. I remember sorting patterns and tinting lenses and wearing stripped pants. I still have an active license in WA State, but not longer work as an optician.

I now have financial planning practice, and cater specifically to the three O's. So I am wanting to get feedback from all the eyecare professionals on this forum on what are the biggest financial concerns.

Please when you reply make it simple by telling me your designation (LDO, OD MD), what type of practice you are in (private, retail, HMO), and what you think is the financial pain point. Or take the survey.

Thanks for all the help

[chip anderson]

Concentrate on the Doctors, the Opticians don't have any money.

[cmbrumbaugh]

That may be true sometimes, but I have always compensated my opticians pretty good. Besides those that make more usually spend more!

[rbaker]

The first thing that one usually states in a solicitation for business, particularly in the field of finance, is ones qualifications. Please enlighten us. Are you a CPA or perhaps an MBA in management or finance? We do have to be careful these days. There are a lot of unemployed individuals who suddenly become “consultants.” One wouldn’t want to put the farm in the hands of someone whose main claim to fame was an ABO after his name.

[cmbrumbaugh]

Let me be clear about this post, and my presence on this forum. I am not here to solicit business. For my ethics, that is a big no-no! The NASD thinks so too! The reason for this post; like I said is that I am looking for feedback from other professionals about their financial concerns.

Dick thanks for your response, and I commend you for being concerned. It is important select a qualified and an appropriate professional to handle your financial concerns. I would be happy to discuss the differences between an CPA, a Financial Planner,and someone who holds a MBA degree in another post, or in private. Each have diferent roles in the operations of a successful business. One qualification does not indicate proficiency in another field. Think how well MDs refract vs diagnose, or how ODs refract vs dispense/diagnose, or LDOs dispense vs prescribe.

So to answer a few things bout myself;
First I am employed. I work for a respected and reputable company that has been around since 1937. I am regulated by the NASD, and qualified to provide advice on investments, retirement plans and insurance.

Second I make no reservations about the fact that I started working in this industry just over a year. However the reason I chose to to work with my particualr firm is the access to it's particualr products, the experience of the other professionals, and philosophy of the Managing Principle.

Third, I am qualified by experience to be an operations consultant, however that is not my focus. Been there and done that. If a client asks me my opinion on ways to improve their practice or operations, that will be offered from my experience in that field. However this can cross a fine line when dealing with business, so I tred carefully. If I have provided poor operational counsel, it could be bad business for financial planning.

Fourth, no offense taken or directed I have more than ABO as my claim to fame. I have known many people with whole alphabets after their name that couldn't measure a PD correctly or balance their check book.

So if I happen to be in your store looking at your exclusive 401k, and 5 clients walk in with money hanging out of their pockets, you won't have to call your back up optician!

Sincerely
Clayton

[cmbrumbaugh]

Wow there are a whopping three poll results, I guess I should go back to serching for the right screws and making glasses!

[Johns]

I remember sorting patterns and tinting lenses and wearing stripped pants. I still have an active license in WA State, but not longer work as an optician.

Then please give the pants to an optician that can use them.

:cheers:

[Fezz]

Then please give the pants to an optician that can use them.

:cheers:

Hey, I'll take those pants. Mine are so tattered that I look like a wimpy goateed version of the 70's Hulk Show. Its so bad that my patches have patches. My stripes look like vague polyester shadows.

Times are tough I'll tell ya.

[cmbrumbaugh]

I tried to give those pants to my son, but he wouldn't take em. He did suggest we pin them up as curtians in the mens lounge...AKA the furnace room where I keep my tools.

[John Sheridan]

Concentrate on the Doctors, the Opticians don't have any money.

Since cmbrumbaugh is a financial professional, I'm sure he can say that he has heard this before.

The opticians say "We don't have any money, talk to ODs".
ODs say "We don't have any money, talk to OMDs"
OMDs say "We don't have any money, talk to a company CEO.
A small company CEO says "We don't have any money, talk to large company CEOs".
etc.
etc.
etc.

Nobody ever thinks they "have any money" to invest. But, you probably do.

For more on this, read George S. Clayson's excellent little book "The Richest Man in Babylon".