Advising medical professionals

We assist doctors, dentists and other healthcare professionals who are essentially small business owners; as such, they often have little portfolio diversification, which generates risk. We help allocate their assets to protect them from market volatility. As professionals running our own practice, we share your entrepreneurial challenges and unique needs.

We will ensure that you:

  • Take advantage of the top tax minimization strategies for medical professionals (we assist with everything from your annual tax filing to complicated tax planning, apply the latest tax strategies, and make sure you take advantage of all eligible tax credits, timing of capital gains exemption claims, and available investment planning options to improve your long-term financial situation);
  • Place your income into a corporation to avoid being taxed at the highest marginal rate;
  • Have a strategy in place to ensure your current income will continue throughout your retirement;
  • Protect your income, assets, family and medical practice;
  • Have a succession plan that works for you, your successors and your practice, even if you are many years away from passing the torch;
  • Incorporate your medical practice;
  • Understand the financial options available to you and choose the ones that best suit your life and practice;
  • Borrow tax-effectively;
  • Take advantage of dollar cost averaging, income splitting and creating RRSP contribution room to help minimize the tax you pay and maximize your investment potential.

Testimonials from Doctors and Medical Professionals

"I have worked with Joe since 2015, and have been nothing but fully satisfied with his service. He is dedicated, knowledgeable and trustworthy. He explains things very well and is on top of his game. He helped me develop not just an investment plan but a comprehensive financial strategy tailored to my goals. He and his team are always available and fast to respond (usually within hours to a day). Joe keeps it both professional and easy going, and is an absolute pleasure to work with."

Dr. Wenyin Huang, Internal Medicine, Queensway Carleton Hospital, Ottawa

"As a client of Nick and Joe's for several years I have had the pleasure of dealing with educated professionals. Nick and Joe both continuously demonstrate dedication and professionalism. As a result, I saved time and energy in managing my taxes and finances. They are easy-going, yet persistent group who know what they are doing."

— Dr. Ridha Joober, Montreal Douglas Hospital, Department of Psychiatry, McGill University

“I have worked with Nick since 2003, my wife since 2005. He is trustworthy, attentive and readily available. He does the best he can for each client. He or one of his team members contacts you so that you can be aware of new investment ideas, or simply to provide a review of your portfolio. When you contact him, he or one of his team members answer promptly and for me this is the most important aspect of the service that is provided.”

— Howard Margolese M.D, McGill University, Associate Professor, Department of Psychology

“Since 2006, Nick and Joe Bakish have served as our financial advisors, we have been consistently pleased with their competence, reliability and enthusiasm. They have done an excellent job.”

— Dr. David and Patricia Ragsdale, Chair of Basis of Medicine, Unit 1, Associate Director of the McGill Integrated Program in Neuroscience, Montréal Neurological Institute

“Sitting down with Nick I was quickly able to see how his expertise and understanding of my profession could be of benefit to my finances. I did not want to incorporate as I heard it was a tedious process and did not have the time. Nick not only understood my concerns but developed an effective and easy plan to move forward with incorporation. Nick and his team have allowed me to use my limited free time to focus on things I enjoy instead of spending time trying to figure out best practices for incorporation etc. Nick, Joe and the entire Bakish Team consistently go above and beyond for my requests."

— Dr. Huy Le, Radiologist, Jewish General Hospital, Assistant Professor of Medicine, McGill University

“As an American living in Canada and a physician integrated into a University Health Care system, Nick and Joe Bakish advised me to incorporate into a business for tax savings, considering the higher taxes in Canada. This allowed me to put 50% of my taxes into a business, and thus save this amount for the future. They not only ensured I was well taken care of but implemented these important tax strategies while remaining onside of US tax filing rules. The entire team was very helpful and made the transition simple and stress-free.”

— Dr. Nancy Braverman, Associate Professor, McGill University-Montréal Children’s Hospital Research Institute

“We have trusted Nick and his team with our financial planning since 2009. We chose Nick initially because of his expertise working with medical professionals. Over the years we have come to appreciate that he brings a lot more than a few specialized skills to the table. Nick understands us, and he works hard for our best interests. He has respected our concerns, goals and priorities while being honest, direct and perseverant in his communication and guidance. Put more simply, he’s saved us from making some bad calls, he’s provided the right investment tools for us, and he’s never tried to tell us what to do.”

— Dr. Dao Nguyen and Luc de Montigny, Assistant Professor, Department of Medicine, McGill University

“With Nick and his team my husband and I were able to put together a financial plan that satisfied our retirement needs and our desire to plan for a charitable gift in the future, while still providing us with flexibility in the present. Through a Charitable Giving Plan program, we saved tax on capital gains and are able to give to the charity of our choice without additional outlays from our own pocket since the foundation provides tax-free growth. Knowing that we can support causes important to us while having a secure future for ourselves is why we recommend Nick and Joe Bakish to others.”

— Dr. Aimee Ryan, McGill University, Department of Pediatrics, MUHC

“As a physician, having a financial planner that understands my specific financial needs and goals is a must while putting into place a concrete financial plan. Nick, Joe and their team did just that and more by tailoring a specific approach to my needs and goals. With their guidance and honesty I was able to create a financial plan that I am comfortable and at ease with.”

— Dr. Eric Jarvis, Psychiatrist at McGill University