For Wealth Managers and Financial Advisors providing financial counseling while working alongside Insurance Advisors, we are able to maximize protection, streamline coverage, and improve overall risk profiles while discovering the following:

Uncover your client's net worth

Procure a liability policy substantial enough to preserve their wealth.

Revisit the rationale for your client’s insurance placement

Determine the reason your clients do not have their personal vehicles, homes, and other property and casualty policies insured collectively through the same insurance company.

Increase awareness of insurance coverage options by educating your clients

Consider cyber liability, home systems protection, employment practices liability for hired domestic staff, not-for-profit board liability protection, excess uninsured/underinsured motorist liability coverage, and cash settlement options on their automobile, homeowners, and valuables policies if they have suffered from a total loss. Unlimited guaranteed replacement coverage is also available to protect their dwelling from an underinsured event after suffering from a total loss.

Review your client's insurance policies and assist with providing coverage

Often times you will find your clients have low automobile and homeowner’s liability limits and deductibles.  It’s important to determine the feasibility of premium savings through increased risk retention without sacrificing coverage. Trusts, Estates, and LLCs need to be listed as an additional insured on your clients’ policies.

Discuss the importance of preserving valuables and collectables

Preserving valuables such as fine art, jewelry, musical instruments, and wine, can be accomplished by combining both blanket and scheduled coverage for flexibility and greater efficiency.

Inform your clients about the importance of being proactive instead of reactive

Educate your clients on the availability of risk mitigation techniques such as flow-based water shut-off devices and other measures that can be utilized to lower their cost and prevalence of risk.

It is important to recognize that as a family’s risk profile is always evolving; stewardship of the insurance portfolio is critically important to keep pace. Taking a holistic view may introduce the need for broader insurance solutions pertaining to aviation, kidnap and ransom, financial institutions, professional liability, travel, and more. Partnering with an Insurance Advisor that specializes in procuring insurance protection for successful individuals, as well as having access to multiple high net worth insurance companies, will help you navigate through the uncertainties, and provide clarity and guidance to help preserve your client’s wealth.

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