Preserving the value of accumulated wealth is obviously a prime concern for high-net-worth individuals. Typically, this responsibility is outsourced to a wealth management firm that includes advisors making sophisticated recommendations on asset diversification, estate planning and taxes.
As part of their services, a growing number of wealth advisory firms also offer personal and asset risk management and insurance consultations by partnering with an independent insurance agent.
The goal of the partnership is to create a holistic risk management program that identifies known and unknown threats to the client's accumulated wealth. By developing a client risk profile, the agent can recommend how to mitigate and transfer the related financial exposures.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
