|Donald Jay Korn|
Publications, from Medical Economics to the
“In 1996, our family business was sold,”
Hockett agreed, with three conditions. “I wanted the venture to be set up as a separate business, I wanted to be paid, and I would do it only if I could get permission from my employer,” he said.
Hockett then worked at
By 1998, Hockett had earned a CFP designation; he left
“I wanted to do comprehensive financial planning,” he said, “with no conflicts of interest.”
Acquiring clients (that weren't related to him) was a slow process, Hockett said, but some key decisions helped the firm stay afloat.
“One of our clients had such a long trip to meet with us, he had to shut down his dental practice for the day,” Hockett said. “We relocated to another part of
Another referral-based strategy also paid off. “We joined NAPFA,” Hockett said. “We sent information about our firm to all the consumers who queried NAPFA–hundreds of responses per year.” This effort produced more than two dozen clients, according to Hockett, which “kept us going.”
As the firm gained clients, it also gained experience with sophisticated issues. “For example,” said Hockett, “we’ve helped clients with many medical and dental practice transitions.” Indeed, Cambridge has been named among the “best advisors” for doctors (by Medical Economics) and for dentists (by Dental Products Report).
Altogether, the firm has
“We are a nondiscretionary firm,” he said. “Clients approve every transaction we make for them.” By now, Cambridge has clients in 15 states, with additional offices in
“We are one of the few advisory firms that really does in-depth financial planning,” Hockett said, “not just investment consulting.” This holistic approached, he asserted, can help Cambridge reach its goal of attaining a total of
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