Risk Management
Why is a Risk Score so important?
What is your Risk Score?
Risk management has a goal to minimize financial and other losses potentially associated with risks to your money, assets, health, or business. These risks come in the form of lawsuits, accidents, property damage, and other financial risks that are facts of everyday life. Planning for the risks that are all around you may require several pieces of protection. From basic asset protection to comprehensive wealth and business transfer programs. Risk management planning seeks to Reduce Risk, Avoid Risk, or Transfer the risk through several methods.
Your first line of defense is to identify your Risk Score. Specific to you, your Risk Score lets us know where your portfolio should be and gives us a great starting point to show you where those major exposures of risk are. After we have your Risk Score, we use the Financial Plan to work toward avoiding, reducing or transferring those risks. When it comes to protecting the people and things that are most important to you, a thorough Financial Plan with a Risk Management strategy should not be overlooked. This strategy can or will include personal insurance, liability insurance, life insurance, long-term care insurance, annuities, and many others.
Remember, there are options when it comes to Risk Management. All of which are used to help us manage your portfolio throughout your lifetime. So, a sound Risk Management strategy can work toward protecting your family from many of the financial consequences of those everyday events.
| No strategy assures success or protects against loss. |
