New York, New York (PRWEB) June 20, 2011
The Abernathy Group II (TAG II), one of the oldest investment firms in the nation devoted to the medical profession, announced the launch of a new Specialty Family Office for high-net worth doctors which will be called The Abernathy Group II Physician Family Office (PFO). The Abernathy Group II is one of the most highly regarded and highly rated professional investment firms in the United States and its owners, Steven Abernathy and Brian Luster, have been advising medical doctors and their families since 1991. The Abernathy Group has received 19 number one rankings in various categories from Nelson Information’s World’s Best Money Managers and two “Best” rankings from Barron’s since 1993.
Award winning investors Steven Abernathy and his partner, Brian Luster, will be launching the Physician Family Office from their base in New York City and will have a national reach.
“The business of medicine is changing. It is certain the next decade will not be as financially rewarding as the last decade for most physicians. Medical doctors with significant assets must guard those assets and insure their capital is managed professionally, just like a second business. A physician’s capital is the one resource that creates the freedom to retire, when and how they choose, in the future”, said Dennis Ryll, M.D., a St. Louis, Missouri Advisory Board member of The Abernathy Group II Physician Family Office.
A Family Office is a professional entity designed to manage the investments, business affairs, and Trusts for high-net-worth families confidentially. The Abernathy Group II Physician Family Office will serve primarily medical doctors and their families. It will be paid an advisory fee from the family only and will not sell financial products or services nor accept commissions or payments from any outside entity which creates a conflict. Family Offices are essential to high net-worth families because they provide personalized, confidential and objective advice while integrating a wide range of business experts. These experts provide a myriad of business, legal, financial and medical practice management services specifically to medical doctors who are too busy to handle these matters.
Arnold Friedman, M.D., an Advisory Board member from Tucson, Arizona said “The Physician Family Office is governed by a Board of Physicians, yet managed by financial professionals with audited track records of success. It sells no products, has no conflicts, and was created to insure the medical professional has access to state-of-the-art financial and business counsel.” Dr. Friedman continued: “Once a medical doctor has accumulated significant wealth, not having assets managed by proven professionals is a mistake which could erase a lifetime of his or her hard work.”
The Physician Family Office also helps families manage their wealth across generations by providing banking and Trust services. The Physician Family Office integrates Asset Management, Legal Asset Protection, Estate Planning, Financial Planning, and Practice Management with Family Education and Concierge Services, along with many other services, and offers a comprehensive and integrated team approach to meeting a physician family’s goals.
The Abernathy Group II Physician Family Office was founded in 2010 with an Advisory Board of physicians who have helped to create the services offered. The Advisory Board is made up of a prestigious group of medical professionals who are committed to creating the first Specialty Family Office dedicated to the practice of medicine. The Advisory Board will oversee product offerings, and performance, while business experts in each category will help create, research, and implement financial and business strategies. The Physician Family Office currently has over $80 million in assets under advisement.
“We are excited to be a pioneer in establishing a private corporation which provides physician advocacy, and integrates critical legal, financial, tax, and trust services in a highly confidential environment for high-net worth physicians and their families”, says Brian Luster. He continues: “We are looking forward to helping physicians decrease investment risks, and reduce unnecessary fees and expenses while applying our understanding of the unique professional challenges doctors face to insure their income is maximized and their assets are legally protected.”
About The Abernathy Group II
The Abernathy Group II is a Registered Investment Advisor (RIA) and is one of the oldest investment firms in the nation devoted to the medical profession. The Abernathy Group was established in 1991. Its corporate headquarters are in New York City. For more information, visit http://www.abbygroup.com or call Debra LeMoine at 212-293-3456.
Contact: Mary Reilly