Since high-net-worth individuals have unique risks and assets to protect, they often surround themselves with advisors who each assist them in different ways. However, without proper communication between this team of advisors, individuals are left as the middleman to coordinate tasks.
Have you ever played that childhood game called Telephone? As a message is spread, it sometimes becomes unclear and changes from person to person. Time can be wasted with the need to clarify details or worse, mistakes can be made that directly impacts your life and business. To avoid this added stress, we organize and initiate your personal team of advisors. Taking on the role of heading this team, we ensure everyone involved is in communication with each other, and has the necessary information to assist you to their fullest.
Key Members Who Should be on Your Team
- Business Planning Specialist
- They will directly assist the Insurance Broker with any changes to the business such as employee procedures, product or service updates, acquisitions, etc. As the business grows and adjusts, this will ensure the business has proper coverage against any possible risks.
- Attorney
- The Attorney will handle all legal documents and contracts that are associated with the risk management team. In coordination with the Insurance Broker, they will assist with negotiations and ensure the client’s legal affairs are in order.
- Financial Advisor
- The Financial Advisor’s primary responsibilities are to ensure the client’s financials are diversified and reduced financial risk. They will work closely with the CPA and Insurance Broker to request adjustments be made to coverages if necessary.
- Insurance Broker
- In addition to collaborating with the team on the overall exposures the client faces, the Insurance Broker will organize and keep lines of communication open for everyone involved. Utilizing the knowledge and resources of the other team members, the Insurance Broker will establish the risk management plan and coordinate policies and procedures to the client.
- CPA
- Working closely with the Financial Advisor, the CPA will gauge the financial risks of the client and assist the Insurance Broker in creating creative risk management solutions.
This personal risk management team makes it easier for you to relax when it comes to your assets no matter what happens in life.
Interested in learning more? Please email us at hello@veroinsure.com or call 773-945-6000.
Vero Insurance is a niche broker with a focus on providing insurance placement and risk management services to high-income families. Here at Vero, we love to provide you with exciting and fun articles to learn more about insurance and how it impacts your life. Visit our other blogs to find more information.
While Vero does offer a wide variety of personal insurance coverages, our main coverages include: personal umbrella insurance, auto insurance, and homeowner’s insurance.
