Some of the best companies and products were never planned. Instead, something sparked an idea that led to a new solution. Nearly 20 years ago, our parent company served its first dentist in wealth management. Over time, managing wealth for dentists and medical professionals became a key part of the firm. But something was missing.
How Dental Systems Optimization Started
Attending a dental society meeting as a guest speaker, the founder of OmniStar Financial Group, Phil Clark presented the usual wealth management strategies. The dentists found value in the presentation but, frankly, they were not new to the idea of investing and growing their nest egg. Sure, the information provided was solid and useful, but in many ways, it was nothing more than another iteration of platitudes that didn’t make them get excited to learn more.
When OmniStar purchased a small book of business in Wilmington N.C., more dentists became clients and the idea of Dental Systems Optimization was born. It became very clear what was missing. The dentists who were nearing the latter stages of their career didn’t have a plan for exiting their profession and many of them met the reality of not having enough wealth on which they could enjoy a successful retirement. Adding insult to injury, they were selling their practices based on the industry standard of 50-70% of annual production. The younger dentists faced a different set of problems. Debt, risk management, when and how to purchase a practice, and how to properly operate this complicated money machine.
The idea was born, provide comprehensive wealth management, develop solutions that answered today’s environment of heightened awareness to detail, precision, optimal skills in communication, empathy, team-work, and business acumen. The result, a firm like that stands alone, continuing to develop a system of coaching to teach and inspire these dentists and their teams in a way that bridges the gap between great clinical skill, running a business, and growing and protecting their wealth.
The journey has been challenging, motivating, and rewarding. We have been working with dentists since 2002 – nearly two decades later, our team has worked tirelessly to understand the complexities of the dental profession and the challenges of owning a practice. Understanding the needs of dentists, young and old, and their families require experience that can only be developed through years of working by their side – gaining insight through their lens.
Today, our sole mission is illuminating the blind spots inside, and outside, the practice. Helping dentists live their best life. Our process helps each client clarify and prioritize goals, personally and professionally. A complete assessment allows us to quantify where they are today and define where they want to be, and when. Through our knowledge and expertise, we are delivering systems and actionable strategies that provide dentists the freedom to focus on their passion for helping others while predictably growing and protecting their wealth.