Wealth building is about far more than creating healthy cash reserves.

In simple terms, wealth building is the process of generating long-term income through multiple sources. This goes beyond stockpiling the earnings you receive from treating patients each day, however; it’s about making sure you are deploying your time and income in a way that gives you far bigger returns in years to come.

At Hive, we have a multidisciplinary team of experts, who specialise in areas such as tax and practice acquisition. We also work with a trusted network of carefully selected partners who are uniquely positioned to help you.

Building wealth and the importance you place on this is very personal. Not only does it vary from person to person, but it will inherently change over time and throughout your career depending on your views, values and circumstances.

No matter what stage you’re at, we can help in a whole host of ways…

Tax optimisation

Regardless of whether you are an associate or practice owner, we regularly obtain annual tax savings of tens of thousands of pounds for our clients. This presents cash that would otherwise be lost, which can then be deployed in a whole host of ways to start giving an ongoing return.

Investing your money

We work closely with Continuum (a national firm of independent financial advisors) to help assess where best to place your hard-earned cash, whether this is buying property, increasing your pension, or purchasing bonds. By putting our heads together, we can ensure that you’re not only making the right investment decisions, but can save additional tax in the process.

Buying your first practice

Buying a business is the biggest investment of your career. The earlier you are in the buying process, the more we can help. Our sales and acquisitions team will examine whether the practice you’ve found is a viable investment for you based on your projected debts and income. We can also ensure the purchase structure is optimised for tax purposes (this alone could easily save you thousands), and help you to grow your asset in the subsequent years, maximising its value.

Selling your practice

Selling your practice for the best possible price won’t happen overnight. We’ve put together a discovery service to help you understand where to improve your business, to ensure that you’re building your wealth for the future. For instance, changes such increasing your profit by £50k could add five times this amount onto your sale price.

Working alongside our partner Christie and Co, we can help you to identify how to maximise your sale value. At the same time, our tax team will make sure you retain as much of your sale proceeds as possible. Keen to hear more? Take a look at a testimonial from one of our clients, who saved £200,000 in tax during a sale.

Get in touch

We know that wealth is more important to different people at different times in their life. It’s our goal to support you regardless of where you are in your career, and whether you’re a spender or a saver. We’re proud to have the expertise to be involved at every stage of your journey, so if you’d like to have a chat with one of our team, get in touch.