Services
What is risk management and insurance planning?

Risk management is the process of proactively identifying, assessing, and prioritizing potential risks and developing a plan to address them. Followed by implementing the plan to help ensure the risk is minimized and controlled as much as possible. The ultimate goal of risk management is to protect yourself from financial harm. 


Insurance planning is a part of risk management. It involves the research, selection, and purchase of insurance policies that will provide coverage against financial losses from risk.  


Together, risk management and insurance planning seek to mitigate financial losses by transferring that risk to an insurance company.

  

Risk Management and Insurance Planning

  • Conduct a comprehensive risk assessment: We identify potential risks that could impact you financially based on your needs, goals, and financial situation. 

  • Analyze your existing insurance coverage: We review your existing insurance policies to ensure you have adequate coverage to address your exposure.  

  • Make recommendations: Once there is an understanding of your insurance situation, we may make some recommendations to help fill the gap. Those recommendations could include purchasing insurance policies, policy riders, etc. 

  • Provide you with a written write-up: We provide a written write-up for you to review with your insurance agent. It will include information about your net worth and provide our recommendations. This is important because once they better understand your financial situation, they may have recommendations of their own.

  • Provide financial reviews: We do ongoing wealth management and financial plan reviews so that your plan is monitored and reviewed to help ensure you're making progress toward your goals and that you're also achieving your objective. And, of course, things change, so when they do, we account for those changes in the planning process.  
How we help