Ndubuisi 'Andy' Egwim urges medical professionals to take active control of their financial future rather than relinquishing responsibility to advisors or accountants. He recommends using independent, specialist financial advisers if needed, but emphasizes that the individual must 'own the plan' and remain in charge for any other financial guidance to be effective.
Number one of the rules is you need to take charge of your financial future. You need to take control of your financial future. And what that means is you can't say, oh, I've got a financial advisor that is sorting out everything for me, or, I've got an accountant that's sorting out everything for me. You could have a financial advisor if you want. Actually, we do. We do recommend if you must get a financial advisor, ideally should be an independent financial advisor. That's a different discussion. And it should be a specialist who's experienced with dealing with doctors. But number one is, even if you have a financial advisor or an accountant, or you've got an NHS pension, you need to take charge of your own financial future. You need to know what is going on, you need to own the plan. You might just have hired them to help and that's what they are at that point, but you are in charge. And without number one, we might as well forget the rest of the nine rules. There's only when you think, look, I'm in charge of this stuff that you start paying attention to it.
