Unfortunately for some of the more financially successful among us, we live in a very litigious society where you must use every vehicle legally allowed to protect your hard earned assets.
People have started to demand a deeper sense of protection from their financial advisors. A recent study by the consulting firm of Oliver Wyman has found that 41% said that they would stay with an advisor longer and about half said they would be more likely to recommend their advisor simply because they suggested a way to protect their growing net worth.
In the same study, 77% of those surveyed said they would like to receive advice about Property and Casualty Insurance.
For many financial advisors, this my feel like a problem but you don’t have to be an expert in property and casualty insurance to provide excellent advice. However, you will need to have relationships with quality insurance agents who you trust to help your clients.
The fear that most of these affluent clients face is that one accident or unexpected home repair that exceeds the coverage amount could cause them to pull from their investment account, ruining their compounding interest, to cover damages, pay legal fees or injury claims.
A good way to add value to your service to your clients is to develop relationships with insurance experts who can help your clients get all-inclusive P&C coverage at the lowest possible rates.
If you are a Financial Advisor who would like to provide more value by recommending Ferguson Insurance to your clients call us at 1(888)258-8808