WCI #157: Tips for Buying and Selling a Practice
White Coat Investor Podcast
Dr. Jim Dahle of the White Coat Investor
4.9 • 2.3K Ratings
🗓️ 7 May 2020
⏱️ 57 minutes
🧾️ Download transcript
Summary
What should a physician or dentist who wishes to sell their practice know about the process? What mistakes do doctors make in this transaction? What strategies can doctors use at the time of sale? These are the questions we answer during this interview with Kyle Rudduck, CFA, CFP of Constellation Wealth Management. Kyle spent the early years of his career working with consulting firms that focused on the healthcare sector with buyers and sellers of medical practices. He describes the practice valuation process in this episode and we discuss the range of multiples on EBITDA for a practice, how to minimize the tax cut when you sell, as well as what can be done in the years prior to the sale to increase the value of a practice. He talks about how a sale typically affects employees, and how a sale is different than a merger. We discuss how often doctors regret selling their practice to a hospital, private equity group, or other entity. This can be a huge transaction that you will probably only do once in your lifetime. You want it to go as successfully as possible. This episode will help you navigate the process.
Do you ever find yourself wishing there was somewhere to go to ask your finance, insurance or investing questions? The White Coat Investor community is a great place to turn. We have a thriving community across all of our social channels - facebook, twitter, instagram, reddit and our WCI forum. We have been discussing solutions to your money problems since 2011. Join the conversation with thousands of other White Coat Investors. Follow WCI on your favorite social media platform for financial resources, tips and strategies. Just head to your platform of choice and search for The White Coat Investor. You can do this and The White Coat Investor can help.
The White Coat Investor has been helping doctors with their money since 2011. Our free financial planning resource covers a variety of topics from doctor mortgage loans and refinancing medical school loans to physician disability insurance and malpractice insurance. Learn about loan refinancing or consolidation, explore new investment strategies, and discover loan programs specifically aimed at helping doctors. If you're a high-income professional and ready to get a "fair shake" on Wall Street, The White Coat Investor is for you!
Main Website: https://www.whitecoatinvestor.com
YouTube: https://www.whitecoatinvestor.com/youtube
Student Loan Advice: https://studentloanadvice.com
Facebook: https://www.facebook.com/thewhitecoatinvestor
Twitter: https://twitter.com/WCInvestor
Instagram: https://www.instagram.com/thewhitecoatinvestor
Subreddit: https://www.reddit.com/r/whitecoatinvestor
Online Courses: https://whitecoatinvestor.teachable.com
Newsletter: https://www.whitecoatinvestor.com/free-monthly-newsletter
Transcript
Click on a timestamp to play from that location
| 0:00.0 | This is the White Coat Investor Podcast, where we help those who wear the white coat get a fair shake on Wall Street. |
| 0:06.0 | We've been helping doctors and other high-income professionals stop doing dumb things with their money since 2011. |
| 0:12.0 | Here is your host, Dr. Jim Dolly. |
| 0:15.0 | This is White Coat Investor Podcast Number 157,ying or selling a practice. |
| 0:23.0 | Do you ever find yourself wishing there was somewhere to go to ask your finance, insurance, or investing questions? |
| 0:29.0 | The White Coat Investor community is a great place to turn. |
| 0:31.0 | We have a thriving community across all of our social channels, |
| 0:34.6 | Facebook, Twitter, Instagram, Reddit, and our WCI forum. We have been discussing solutions to |
| 0:40.0 | your money problems since 2011. Join the conversation with thousands of other white code investors. |
| 0:45.0 | Follow WCI on your favorite social media platform for financial resources, tips, and strategies. |
| 0:51.0 | Just head to your platform of choice and search for the white code investor. You can do this and the white code investor can help. |
| 0:57.0 | Welcome back to the podcast. It's great to have you here. We appreciate you tuning in each week and hope that as you travel to or from work that you are safe both in route and when you get there and that you are able to enjoy your lives as much as you can given the limitations on them both at work and at home these days. |
| 1:17.0 | Our quote of the day today comes from Rick Ferry, who says the first step is to figure out which asset class you want to invest in and |
| 1:23.8 | then figure out the best way to get exposure and I agree with that. Too many people |
| 1:28.0 | start at the end of this process trying to pick investments when in reality they |
| 1:31.6 | should be starting with what assets they want to invest in. |
| 1:35.0 | Okay it is now what April 21st today this podcast is going to be running on May 7th |
| 1:41.5 | so obviously anything I say here may seem out of date by then with how fast the world seems to be moving. |
| 1:47.0 | Lately I've been enjoying the last dance, which is the most popular TV series going on right now this is about |
| 1:55.3 | the Bulls run back in the late 90s their last season together with Michael Jordan |
| 2:00.4 | and Scotty Pippin and all those folks It's really interesting having lived through it to now look back 20 years later at it and what happened trying to get over how bitter we are about you know the Utah jazz being smoked at the end by the bowls but we've kind of gotten over |
| 2:15.1 | that and we're enjoying the story. But the reason I bring this up is I think the second |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Dr. Jim Dahle of the White Coat Investor, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Dr. Jim Dahle of the White Coat Investor and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2025.