Risk Management

Risk: We define risk by any event that has a negative outcome on your legacy. 

It is our responsibility to help you understand the spectrum of risks, assess them, and help you mitigate them. This goes far beyond your portfolio allocation. It includes protecting from premature death, outliving your wealth, health events, and preserving your family or business.  

It’s vital to pay close attention to risk management in financial planning. Individuals, however, can easily find themselves overwhelmed by the sheer number of variables to consider in a financial risk assessment.

Fortunately, our experienced advisors can help.

Our Risk Management Services

Long Term Care Planning

People are living longer. More people than ever before are reaching 100 years of age and beyond. What’s more, people are staying independent for much longer.

At the same time, the cost of healthcare and long-term care continues to rise. Without proper planning, an extended hospitalization or the need for in-home care can wipe out years of hard-earned savings. There is also the quality-of-life factor. Whether you want to age in place through modifications to your home and in-home care, live with family, or you prefer the communal living environment of retirement or assisted living, you need a financial plan to support that lifestyle for many years.

It’s highly advisable to make financial plans based on the assumption that you will need paid care or assistance at some point. This can help avoid the need for a last-minute financial “sprint” to get the funds together. These sorts of “races to the finish” can have serious financial implications and create undue stress for family members.

Our team can help with your long term care planning by presenting options for long term care insurance, retirement planning, investment management and more.

Life Insurance Needs Analysis

Life insurance isn’t for you. It’s for the loved ones you leave behind. This means the decision whether or not you need life insurance is actually a very simple one. If you have anyone you want to protect in the event of your death, you need life insurance.

Once you’ve established that you need life insurance, there are three key questions left to answer.

First, what type of life insurance do you need?

You can choose between whole life insurance (or permanent insurance) and term insurance. The former covers you for as long as you pay the insurance premiums. The latter covers you for a specific length of time (or term).

Second, how much coverage do you need?

Third, what should happen with any eventual payout?

It’s particularly important to consider this last point thoroughly if the life insurance policy is to protect children. You may wish to have any payout made into a trust. This allows you to have its use supervised even when your child is legally an adult.

Our advisors can help guide you through these three questions and present options to make sure your loved ones are better protected, and you have peace of mind.

Income Needs Analysis

Income needs analysis is used to determine how much money a person will need to see them through a particular season of their life. It can be used in a wide variety of situations.

For example, it can be used to calculate what sort of income a person will need in retirement. It can also be used to calculate how much life insurance coverage a person needs.

Having a good idea of how much income a person will require is often essential for other financial decisions. For example, it can feed into a person’s choice of investments both in the stock market and in real estate and their level of risk tolerance.

An income needs analysis is very personal. It gets to the heart of who and what matters most to you. We’ll work with you to determine priorities and help you see the big picture of your financials.

Business Continuity Planning

Effective business continuity planning can make the difference between survival and closure for any business. It’s particularly important for smaller businesses, which often lean heavily on a few key members of staff, such as founders, and may have a limited number of shareholders (if any). This means an unexpected departure, especially death, can have a profound impact on the business.

Business continuity planning shouldn’t wait. Contact us today to start taking steps to protect the future of your business.

Let’s take this journey together.

We’re here to help guide you in your financial journey to success and a more secure, confident future.