Amplify Your Value to Clients

Super CEvent 10.19.22 What’s Keeping You Up at Night?

Welcome

Amplify your practice and how your clients value your advice by preparing now to discuss and resolve known client risks that are frequently neglected by the financial planning community.

Property Casualty Insurance: Most people purchase insurance by comparing costs, not coverage. Insurance contracts often have areas where coverage is limited. These areas are called sublimits. They protect the insurance carrier from large loss while insuring the client for smaller losses. Many of your clients may be insured backwards— paying too much for coverage that doesn’t, well, cover what they most need covered: Floods. Fires. Droughts. Mud Slides. Hurricanes. Fraud. Theft. Vehicle and Medical Coverage limits/exclusions. Umbrella Policies that are not watertight. The number and frequency of Property & Casualty risks in our world has increased. Have you kept up with this part of your clients’ financial review? This section will give you the contract and sublimit language you need to talk to your clients and enable you to know if/when to recommend that they seek a coverage review. Cyber Crime: Why would a financial planner talk to their clients about cybercrime? We all know cybercrime is a significant risk to firms and reputations and has gained the attention of our regulatory agencies. On a personal level, the near inevitability of cybercrime makes it a dangerous peril for your clients’ financial health, particularly as they age. This workshop will provide you with resources to share with clients and your staff. Our expert consultant will provide you with insight into several lesser-known practical risks from everyday actions that may be presenting opportunity to tomorrow’s fraudsters; not-so-basic advice on how to protect privacy when redacting documents; what to consider when posting to social media; and greater certainty when responding to seemingly valid requests from family and office mates. You will gain new resources right here in our community who can assist your team—however small in number—in remaining more cyber-vigilant. Disability: Disability is the hidden peril to a financial plan. People who are ill often drop off the radar, so you don’t hear much about it. Of today’s 20-year-olds, 1 in 4 will become disabled before they retire, with an average claim life of 34.6 months. Are your clients prepared? Life Insurance: There are many types of life insurance in the market. At its best, life insurance protects a family from financial loss caused by the death of a loved one. At its worst, life insurance is costly and may disappear when you need it most. How do you evaluate the type of policy to recommend? What types of needs trigger the call for a more specific tool or coverage option?