You spend ten years in school, another five in residency, and a lifetime looking at charts. But when was the last time you looked at your own "Financial Treatment Plan"? Honestly, most doctors don't. They’re too busy saving lives or perfecting a root canal to realize their own bank accounts are bleeding out through inefficient tax structures and "cookie-cutter" advice.
This is exactly where John W. Moakler IV comes in.
He isn't your typical suit-and-tie advisor who just wants to sell you a mutual fund and call it a day. Moakler is a bit of an anomaly in the Canadian financial world. He’s a guy who sold a software startup to IBM for $76 million, looked at the financial advice he was getting, and basically said, "I can do this better."
The $76 Million Wake-Up Call
John W. Moakler IV didn't start in finance. He was a tech guy. After graduating from the University of Waterloo with a degree in Mathematics and Computer Science, he spent nearly two decades in the high-tech trenches. When his startup hit that massive $76-million payday, he suddenly found himself on the other side of the desk. He was the client.
What he found was frustrating. The advice was generic. It lacked the precision he was used to in computer science. He noticed a massive gap between what high-net-worth professionals needed and what they were actually being told.
So, he did something kind of radical. He went back to school. By 2009, he had his Certified Financial Planner (CFP) and Chartered Life Underwriter (CLU) designations. He didn't just want to manage money; he wanted to solve the "tax problem" that plagues Canadian medical professionals.
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Why John W. Moakler IV Focuses Exclusively on Doctors
You might wonder why someone would limit their client base so strictly. Moakler Wealth Management only works with physicians, dentists, and business owners. It's not about being exclusive for the sake of it. It’s about specialization.
Doctors have weird financial lives. You start your career late, often with mountains of debt. Then, you suddenly hit a high-income bracket where the government wants to take half of every dollar you earn. If you’re incorporated, you have a whole other layer of complexity.
The Personal Battle with Osteosarcoma
In 2010, the mission became personal. John W. Moakler IV was diagnosed with osteosarcoma, a rare and aggressive form of bone cancer. He went from being the advisor to being the patient.
During that time, he saw the healthcare system from the inside. He watched doctors work themselves to the bone. He also realized that if he hadn't had his own "financial house" in order—specifically his critical illness and disability insurance—his family would have been in a tailspin. He came out of that experience with a singular goal: to ensure the people who take care of everyone else are actually taken care of themselves.
The "Financial Treatment Plan" vs. The Bank’s Pitch
Most people go to the bank, and the "advisor" there (who is often just a salesperson) looks at their income and suggests an RRSP. That’s it.
John W. Moakler IV argues that this is like a doctor prescribing a Band-Aid for a compound fracture. In his book, Heal Thy Wealth, he breaks down why "standard" advice often fails medical professionals. For instance, he’s a big proponent of business owners avoiding a T4 salary where possible, opting instead for more tax-efficient ways to pull money out of a corporation.
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He’s seen cases where doctors were overpaying insurance premiums by tens of thousands of dollars simply because their policies were poorly designed. In one specific instance, he found a couple overpaying by $13,400 a year. Over 15 years, that’s over $200k gone. Just... poof.
Key Strategies Most Advisors Miss
If you're looking at your wealth, there are a few things Moakler emphasizes that usually get ignored in general practice:
- The Mortgage Trap: Many accountants tell doctors to pay down their mortgage as fast as possible. But if you’re paying 30% in personal taxes to pay down a 4% mortgage, the math doesn't always check out.
- The Insurance Audit: Most doctors have "junk" policies. They have coverage, but it’s not the right coverage. Moakler looks for design flaws in disability and life policies that could lead to claim denials or wasted premiums.
- Corporate Structure: It’s not just about having a corporation; it’s about how you use it to flow money to your family and your future self without the CRA taking a massive cut.
What You Should Do Next
Wealth isn't just about the number in your investment account. It's about the "leaks" in your system. If you're a medical professional or a high-end business owner, your first step isn't to buy a new stock. It's to perform a diagnostic.
- Audit your current insurance: Check if your disability policy actually covers your specific medical specialty, not just "any occupation."
- Review your compensation: Are you taking a T4 salary because it's easy, or because it's actually tax-efficient? Talk to someone who understands corporate tax integration.
- Calculate your "Tax Leakage": Look at your total tax bill from last year. If it’s more than 40% of your total earnings, you likely have a structural problem in your financial plan.
The reality is that "standard" financial planning is designed for the average worker. You aren't average. Your plan shouldn't be either.