Testimonials

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A 67 year old dentist goes from almost no savings for retirement to retiring with over $1,000,000 in only 7 years.

A 67 year old dentist attended a PFS lecture at the 2001 IDA summer meeting. With virtually no significant retirement savings (about $59,000 in an IRA, which he was funding at $2,000 a year) he felt “hopeless” about a quality retirement. The PFS Analysis revealed significant structural deficiencies in his practice/business. The deficiencies were cured, the practice incorporated, the POB rented from him to the dental corporation, a retirement plan installed. PFS sold his practice at age 75 and, now 7 years later, the client enjoys his winters in Florida and summers at home in Indiana.

Our level of success has been possible because of the guidance and support we have received from PFS. Whether it was transitions, financing or accounting, they were helpful in every step along the way. However the biggest benefit for us has been the relationships and trust we have established with PFS. They have helped us through the highs and lows and quite simply, we would not be where we are today financially and professionally with out them.

– Matt Martin DDS
PFS is a wonderful consulting company! They have gone above and beyond my expectations and have provided some of the best advice and guidance I have ever received. I am thoroughly impressed and would highly recommended them to my peers. They are competent, reassuring about various areas I may have had questions regarding the office and are always available for consultation. They are the best!

Much love,
Kara Czarkowski, DDS

A young dentist was the victim of a fraudulent sale and was on the hook for $900,000 with the prospect of bankruptcy as the recommended solution by his attorneys.

PFS was asked to assist in the situation and created an alternative solution which would preserve the credit record of the dentist, recover substantial amounts of the fraudulent sale and eliminate the bank debt. In addition PFS found a suitable practice for the client and arranged financing. Two years after the fraudulent sale, the issue was resolved to the satisfaction of the bank and client.

PFS, established by Jim Miller, has been by far the biggest asset my prosperous oral and maxillofacial surgical practice. I have been affiliated with PFS for over thirty years. Today’s economic environment is difficult for any business. As dentists and dental specialists, now more than ever, it is essential for success to have sound business principles. In my opinion, PFS is the only solution for practice health and financial prosperity.

Marvin Greene, DDS, Chicago, Oral, Maxillofacial Surgeon
I started my journey over 10 months ago. I was moving from active duty military into private practice. While I had a great deal of experience in dentistry, I had no experience in managing the business side of practice. My major concern was trusting practice brokers who get paid a commission on the sale of the practice. If I pay more, then they get paid more. PFS stood in my corner and gave me the advice and counsel I needed to make a good decision on my transition.

Sincerely,
Dr. Mark A Vanzant DMD
Montana

A 57 year old orthodontist utilized PFS to assist in his transition and retirement planning.

An associate was found and hired. The transition plan was in place and received the approval of the associate and her advisors. The structure of the sale projected a tax burden of 12% to 15% on the sale proceeds. Five years after the sale, the client called PFS to report that the actual tax burden on the proceeds was 9.1%. The purchase was 100% deductible to the buyer.

I have been a client of PFS since 1997. Since that time PFS has been a reliable partner in the development and progression of my professional and financial life. Starting with joining an existing group practice, and continuing through the establishment of my own solo practice, PFS has proven itself a consistent, responsive, and collaborative resource. Their intellectual capital and balanced advice has given me valuable direction to my successes and an invaluable helping-hand out of my pitfalls. I highly recommend PFS as a resource beyond compare in crafting your professional and financial success!

Sincerely,
Erich A. Dittmar, DDS, MSD
I have been a client of PFS for thirty-two years. The professional relationship I have enjoyed with them has been the most rewarding and profitable one of my career.Their advice and recommendations over the years contributed in a significant way to the practice success I experienced. My wife and I today are enjoying a financiallysecure life that is due in large part to the efforts of PFS. I would be remiss if I did not mention the founder of PFS, Mr. James Miller. Jim has not only been my personal advisor, but has become a very close friend of long-standing. I have come to trust the advice and Jim and PFS in all matters. As PFS moves toward the future, if Jim says he has found someone to carry on the banner of PFS, then I trust his judgment completely. I have no doubt that PFS will continue to enrich the professional and personal lives of their clients.

Daniel S. Bennett, DDS, FAGD, FICD

A 46 year old endodontist, working out of a 750 sq ft. rental office, retained PFS to create a scenario where he could own his own Professional Office Building, bring in an associate, grow the practice and eventually retire to a life of travel and skiing.

The PFS analysis showed the client how to accomplish his goals without the substantial expense of building an office building. Appropriate space was located and leased. A year later an associate was hired and two years later purchased a 50% interest in the practice. Three years later a second associate was hired and a year after that associate purchased a one third interest. The PFS plan allowed the client to save 100% of the sale proceeds in a deferred tax, retirement account. PFS found a retiring military endodontist to purchase the client’s one-third interest.

Undoubtedly, my choice to have you as an advisor was the best financial decision I have ever made! You have provided sage advice and your guidance over the past 20 years has been invaluable to myself and family. You are an exceptional advisor, mentor and above all a highly valued friend. There isn’t a day that goes by that I don’t feel how fortunate I’ve been to have you leading the way to my financial independence. Especially in uncertain times, your kind steady reassurance has allowed me to sleep well, confirming that our financial plan was well designed. Through your highly skilled guidance, I was able to focus solely on my practice instead of spending time and energy on financial planning. As a result of your thoughtful and well-crafted management, I was able to become financially secure and independent much earlier than I ever imagined and now can live a lifestyle free of financial concerns or limitations.

I will always be indebted to you for all the years of financial assistance and especially trusted friendship. I have as much respect for you as anyone I have ever been associated with. You are a true gem of a man and can’t thank you enough for all that you have done for me as well as my family.

Doug Luiten, D.M.D.
I am fortunate to be a client of Mr. Jim Miller and PFS, Inc. for over ten years. What started as a phone call inquiry to Jim about a potential orthodontic practice sale has blossomed into a long term professional relationship.

I was at a crossroads in my professional life when Jim and PFS started working with my wife and me. He helped us navigate difficult problems in both professional and personal areas. He once told me that my biggest mistake would be not utilizing his services enough. He was right.

Jim has extensive knowledge and expertise in many areas, but it his passion is to serve others that sets him apart from most people. He always finds time to respond to our calls, while no question seems insignificant. He is patient and never rushes us into a decision.

My wife and I are achieving our dreams through the grace of God, hard work and with the assistance of PFS, Inc. My only regret is that I did not find Jim earlier in my career. You will be hard pressed to find a harder working partner in your professional and personal affairs. We are proud to call Jim a member of our inner circle and our friend.

-David L. Judy, D.D.S. M.S.

A 45 year old endodontist in the southwest was involved in a unsatisfactory partnership, burdened by high taxes and unsatisfactory tax burden.

PFS assisted in the termination of the partnership, established an independent practice, purchased his own professional office building and set up a strong pension plan. PFS assisted in finding and documenting an associate relationship. The associate then purchased the practice and retained the former owner as an independent contractor (corporate-to-corporate relationship) which allowed him to save 100% of his earnings in a pension plan. The client fully retired at age 64 and spends his time with family, grandchildren, fishing in exotic locations around the world and skiing.

I have been in a national endodontic study club with 15 other endodontists and Jim Miller for 26 years. Jim is the only non-dentist in the group. He was invited to attend and speak to the group as a financial advisor as he had done some work for one of the members. The group was so impressed we invited Jim to become a member of the group.

PFS has helped every member of the group since his arrival. He set up retirement plans and helped institute them. He advised on investments, tax matters, selling or buying practices and practice transitions. His advice has been essential to us in avoiding risky or bad investments, tax planning and in planning retirement with sufficient capital to sustain us after retirement. He is an expert on all these matters.

PFS has helped many of our us in practice transition saving us thousands of dollars in tax savings both for the seller and buyer. His knowledge in this area is unsurpassed.

In addition to all these assets, Jim is one of the nicest people I have had the pleasure to know in my career. Because of his counsel I have been able to prepare for a comfortable retirement. I am honored to recommend PFS without any reservations for advice and assistance in any area of professional planning, practice transition and tax matters both personal or professionally related.

Sincerely,

Joe H. Camp DDS, MSD
Jim Miller has worked with my wife, Susan and me for over 30 years. I was fortunate to meet him by chance early in my career as an orthodontist. My wife and I often joke that everything that Jim Miller has ever told us was a good idea in terms of an investment or insurance purchase turned out to be absolutely true. As a young professional, you have to put your faith in a few key advisors, and we are so glad Jim came into our life. He set up a personal equity plan (PEP) that has funded our retirement. He made wise recommendations on the purchase of some universal life insurance products designed to pay estate taxes as well as build up cash value. One of our famous questions to him 24 years ago was whether we should stretch a little financially and buy a cottage in Eagle River, Wi. Without seeing the details off the offer, he said, “Buy it. God isn’t making any more lake front property”. A wise man indeed. We have had more great family memories created up there than we can count. Thank you Jim for all your advice.

-John Crawford
Orthodontist
Kenosha, Wi.

A forty three year old oral surgeon with a $130,000 income tax bill and $30,000 in annual pension savings was on track to retire at 65.

A forty three year old oral surgeon with a $130,000 income tax bill and $30,000 in annual pension savings was on track to retire at 65. The PFS program analyzed his circumstances and found he could save $150,000 per year and that cut his tax burden to $30,000. He retired at age 49. Sadly, the client died of cancer at age 69. The PFS plan gave the client an extra 16 years of retirement. When the doctors CPA asked why he was retaining PFS, he responded, “They can cut my taxes and increase my savings”. The CPA responded, “Doc, we can do that.” And the client asked “why didn’t you” and the CPA said “we didn’t know you minded paying the taxes”

I first met Jim Miller in the winter of 1981. Since then he has been my go-to guy in almost every aspect of my life. He has represented my financial interests in a very messy divorce with his knowledge of medical and dental valuation he helped establish a fair valuation for my dental practice.

Following that he composed a tribute in his book of poems “Scratches on the Universe” to the death of my oldest son. Seven years later he wrote another tribute following the death of my younger brother. Beside his poetic mastery he oversaw the sale of my dental practice. He remains one of my best friends and is indeed “my brother from another mother”. Truly a man of many talents!

With profound respect and admiration.

-Ralph D.Carlson, D.D.S.
PFS is the best thing happened to me both personally and professionally. PFS came to me as word- by-mouth referral. Jim, the owner took genuine interest in my professional and personal financial well being from day one. The expertise and attention to detail with which he has handled my financial affairs could not be faulted. And he always had my best interests at heart.

I am absolutely delighted with PFS’s service. May you prosper, along with your clients.

-Yi-Shaung Yang, MD

A 32 year old general dentist was caught in the “cycle of poverty”.

The PFS analysis discovered a series of loans taken in April over a period of 3 years. When asked why the loans, the client responded they were to pay taxes on his income. The analysis showed the doctor how to incorporate, rearrange his cash flow, increase his savings for retirement. He followed the recommendations and PFS sold his practice at age 58. He built a $2 million mountain retreat and is enjoying his very active retirement with his wife.

PFS provided much needed advice, insight and guidance on many occasions. My business was more profitable and I slept better at night. There is a peace of mind knowing that professional information designed for my specific situation was just a phone call away. This includes help with insurance, investments, savings and retirement plans and actually any little or big day to day problem that was beyond my ability. In my opinion, it was the best business decision I ever made.

-Tim Howell DVM
Jim Miller and PFS were major factors in my being able to retire from my medical practice at the age of 58. From the initial analysis of my practice in 1983, through it’s sale in 1998, PFS provided me with guidance, service and support of the highest quality.

I am extremely grateful for my association with PFS.

-George J. Quigley, M.D.

A physician, specializing in ophthalmology, engaged PFS at age 43 to assist in organizing the business side of his practice and structure to maximize the opportunity for retirement.

15 years later, PFS sold the practice and the client has enjoyed 18 years of quality retirement and is looking forward to many, many more.

I cannot say enough regarding the excellent service I have received from Jim Miller and PFS. He not only made sure I was financially able to achieve my goal of early retirement , but he also provided the intangibles – caring for me as a person and making sure I was emotionally and mentally prepared for a new stage in my life. Jim has been not only a financial consultant, but a good friend who has always been there for me no matter what the situation. He was able to guide our family through a very difficult time with the death of my dad. Jim made all the phone calls and contacts with everyone from the social security administration to the different insurance companies. He was able to provide much needed support not only emotionally, but working through all the paperwork involved with the death of a loved one. Jim was the stabilizing factor which enabled our family to work through the grieving process much smoother. I highly recommend Jim Miller and PFS. I value not only his services, but more importantly, his friendship.

Kathleen A. Hennegan DVM
This letter is to express my gratitude for the years of valuable advice and guidance in managing my financial welfare over the last 30 years. Indeed, without the plan that was engaged by PFS, retirement would have been very unlikely to be in my future.

The confidence and sense of well being in my life as a result of my consulting with you has been a blessing.

Perhaps of even more value has been the extremely brief response time when I have called or texted about an urgent financial or tax issue.

In summary, I feel most fortunate to have been a client of PFS these many years. The financial security formulated for me has greatly enhanced my ability to enjoy my senior years.

Sincerely,
Donald L Wilson, MD
I have been a client of PFS for a long time.

I have been a client of PFS for about as long as there has been a PFS.

I was PFS’s first client. I am still an enthusiastic client. The knowledge and advice I have received over the years has been vital to my success professionally and personally.

Working with PFS for over 35 years is one of the best decisions I have ever made.

-John E. Marosky DDS,MSD

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