Growing up in a family of physicians, Max witnessed firsthand the challenges that arise when navigating work, family, and finances. An experienced financial professional and lecturer, Max founded his own firm, Leopold Wealth Management (LWM), in January 2021. With a 99% client retention rate, the firm is a primary and trusted advisor for physicians nationwide, creating strategies that encompass protection, savings, debt, growth and taxes.
As managing partner, Max takes a holistic and interactive approach to planning, simulating a variety of decision trees to ensure sound outcomes for clients and their families. “Our philosophy is that medical professionals deserve financial advice and guidance in line with the high-caliber medical care they deliver to their patients,” he says. “Unfortunately, we often find that our clients’ financial consultants offer advice independent of one another when their recommendations and results could potentially have been different had they worked together.”
To address this issue, Leopold Wealth Management functions as a “macro manager” for clients—providing tax guidance, student loan consultation, life/health and investment management—while collaborating with trusted partners on other critical financial matters to ensure the entire team is working harmoniously towards each client’s financial goals and objectives. As Max explains, “three common hurdles for physicians are student loans, taxes and, above all else, hectic schedules.” As “macro manager”, LWM takes care of everything for them, so they can spend more time in the operating room and less time focusing on issues surrounding personal finance. “Of course, if a client wants to maintain certain existing relationships, we do our best to coordinate between those groups,” adds Max. “This way, our clients don’t have to worry about who’s doing what because everything is being taken care of.”
As part of LWM’s interactive approach, the firm uses software to simulate different situations as they arise throughout the course of their clients’ lives. Max and his team explore numerous combinations of decisions around where current and future capital should be allocated and in what order, with the goal of optimizing a client’s financial model. “Clients are on Zoom calls with us and can see the screen, so they get a clear idea of how these decisions will affect their financial plans,” Max explains. “What we have found is that when you do a good job for people and do the right thing for them, it’s not difficult to build a brand and referral network that branches out quickly.”
In fact, Max attributes the rapid growth of Leopold Wealth Management to the firm’s timely ability to prove its value to the physicians who call upon them. The firm began by working with doctors in a multitude of hospitals located in the tri-state area, and word quickly spread about their services, the quality of their work and their commitment to doing right by their clients. “Early in my career, I was driven by the competition, but now that I’ve grown, it’s really gratifying to see the planning and strategies that we put into place start working,” says Max. “As these families grow and have kids of their own, their needs are continuously met, and that is immensely fulfilling to me.”
Co-Founder and Managing Partner
Leopold Wealth Management