A Pitch for Financial Advisors/Wealth Managers: DPC as a “Health Fiduciary” for Your Clients

As I am opening a new DPC, I’ve joined the local Chamber of Commerce and have a pleasure of interacting with a number of different businesses.

It struck me that many financial advisors/wealth managers and DPC physicians have mutually aligned goals: we both need our patients/clients to be alive to get paid! While some might say that is the crass version, I find it logical, concise and transparent.

I’ve come up with two executive briefs for financial advisors/wealth managers to convey the win-win-win for them, our clients/patients, and us (DPC physicians).

The first is below, entitled DPC – a health fiduciary for your clients. Basically, I hope this creates an “aha” moment for the financial advisor/wealth manager. I want them to realize that although their client may have coverage, they don’t necessarily have access, and that coverage may direct them to a “provider” who has mixed incentives.

Please feel free to copy, paste and modify for your DPC practice. As Christy Gupton posted recently, we need a lot more DPC practices to continue to positively change healthcare in this country. 

Notice that I even put at the end of the brief that my practice may not be what’s best for a particular client or the employees of a particular financial advisor/wealth management office. But I do want a position myself as someone who can direct those folks to physician owned and run DPC practices as DINO’s continue to proliferate!

Executive Brief: Direct Primary Care – A Health Fiduciary for Your Clients

Subject: Bridging the Gap Between Health Coverage and Health Outcomes

The Financial Advisor’s Unique Challenge

As a financial advisor, you operate under a fiduciary standard, bound by law and ethics to act solely in your clients’ best interests. You meticulously optimize their financial portfolios to mitigate risk and maximize long-term outcomes. Yet, one of the greatest threats to your clients’ long-term financial security—and their ability to enjoy the wealth they have built—is a fragmented, costly, and inefficient healthcare system.

The Problem: Coverage Does Not Equal Care

Many clients believe that holding Medicare, a Medicare Advantage plan, or premium commercial insurance equates to high-quality, reliable healthcare. In practice, this is a dangerous misconception.

While these programs provide *financial coverage* for catastrophic events and specific procedures, they do not guarantee:

• True Access: Clients often wait weeks or months for an appointment, only to be allotted a few minutes with a clinician who is incentivized by volume, not patient outcomes.
• System Navigation: Without guidance, clients are left to navigate a labyrinth of specialists, urgent care facilities, and pharmacies, often resulting in redundant testing, unnecessary procedures, and spiraling out-of-pocket costs.
• The “Quarterback” Function: In the traditional fee-for-service model, no single entity is incentivized or empowered to manage a patient’s overall health trajectory. This lack of continuity increases health risks and creates unpredictable, often unbudgeted, financial liabilities.

The Solution: Direct Primary Care (DPC) as a Health Fiduciary

Direct Primary Care (DPC) is a subscription-based model that aligns perfectly with the fiduciary values you practice. By decoupling primary care from insurance billing, DPC physicians shift the focus entirely back to the patient.

DPC functions as a Health Fiduciary by providing:

• Undivided Loyalty: Because the doctor is paid directly by the patient, their loyalty is to the patient, not the insurance company or health system.
• Cost Optimization: DPC physicians actively work to optimize a client’s health spend. They act as the “quarterback” of the care team, determining which specialists are actually necessary, negotiating cash prices for imaging and labs, and avoiding the “emergency room as primary care” trap.
• Timely Access: With a fixed, affordable monthly membership fee, clients gain near-instant access to their physician via phone, text, email, and same-day or next-day appointments. This proactively manages health issues before they escalate into high-cost crises.

The Advisor’s Value Proposition

Integrating the concept of DPC into your holistic planning is not just about recommending a medical model; it is about providing comprehensive risk management. When your clients have a dedicated, accessible, and aligned health advocate, they are more likely to have:

1.  Lower Total Cost of Care: Reduced reliance on high-deductible services and fewer catastrophic health events.

2.  Better Long-Term Outcomes: Proactive management of chronic conditions and preventive care.

3.  Greater Peace of Mind: Confidence that they have a navigator to manage the complexities of the healthcare landscape, protecting their financial independence.

By educating your clients on the role of a “Health Fiduciary,” you distinguish your practice as truly holistic, ensuring that the health of their portfolio is supported by the health of their person.

Next Steps for the Advisor:

Advise: During annual reviews, ask: “Do you have prompt access to a physician that really knows and works for you? We might be able to improve your health and save you money by looking at a DPC model.”

Consider adding a DPC benefit for your office to improve employee health and productivity as well as retain excellent employees. Contact Dr. Dan Swartz to learn more. He is part of the West Michigan DPC Collective; while his practice may not be a fit for your clients or employees, he can direct you to other physician owned and run DPC clinics in West Michigan, as well as reputable, nationwide DPC practice finders.