37
Volume3 Issue3
|
S
upporting
Y
our
P
ractice
james.pelletier@
rbc.com
Howdo Ichooseabanker?
It reallydependsonwhere thedentist is in their career:
❙➤
School.
Oncea student is accepted intodental school, their needs are focusedon
paying their expenses,managingcashflow, andmaking sure theycanmeet their
tuitionpayments. At RBCRoyal Bank,wehave senior accountmanagerswho specialize
inmeeting theuniquebusiness andpersonal needsof healthcare students. These
accountmanagers canprovideaccess tovaluableadviceandbankingoptions that focus
specificallyondental students.
❙➤
Aftergraduation.
Asdentistsgrow their practice, typically their needsbecome
morecomplexand this iswhen their banker can introduce them toa senior account
manager, commercial financial services. Incommercial financial services,wehavea
groupdedicated todental,medical andother healthcareprofessionals. It’s important to
find someonewho fullyunderstands theuniqueneedsof your industry. For example,
a keychallenge for adentistmight be tomakepurchases related to technology
developments that requirecarefulmanagement of cashflowandcapital.We know that
retaining talentedemployees is alsoa keyelement of a successful practice. At RBC, a
senior accountmanager healthcarecanwork closelywitheachclient tobuildaplan for
addressing these typesof issues andmore.
❙➤
Transition.
Onceyou’vegrownyour practiceandyou’re thinkingabout retirement, you
will havequestions:What is the truevalueofmypractice?Whodo I sell to?What’s the
best tax structure?Howmuchdo I need for retirement?At that pointwecanengage
specialistswithinandoutsideof theorganization tohelpyoumeet your financial
objectives.
At theendof theday,whenchoosingabanker youneed tomake sure that they specialize
within thedental industryand take the time tounderstandyour uniquefinancial needs
beforeoffering solutions.
a
JamesPelletier
Mr.Pelletier is thevice-
president, commercial
financial services, health
care,RBCRoyalBank,
GreaterTorontoArea.
Hehas extensive experience
atRBC in sales, sales
leadership, commercial
credit, riskmanagement
andpersonalbanking.
What should a dentist look for
WhenChoosingaBanker?
When choosing a banker youneed tomake sure that they specialize
within the dental industry and take the time to understand your
unique financial needs.
This interviewhasbeencondensedandedited.
Theviewsexpressedarethoseoftheauthorand
donotnecessarilyreflecttheopinionsorofficial
policiesoftheCanadianDentalAssociation.
Tohear the full interviewwith
Mr. Pelletier, visit
oasisdiscussions.ca/
2015/09/28/wb
