Financial Risk Management Consulting
Asset protection is a key piece of financial planning and gives you peace of mind as you know you can handle whatever life throws at you.
As a business owner, you have assets that need to be protected. These include your business, vehicle, income, home and investments. When it comes to managing your assets, it’s important that the dollars you’re spending on insurance are being spent appropriately.
Many people never think about the money they’re spending on insurance, but it’s a key piece of good financial planning. We’ll sit down with you and review your asset protection to ensure it’s in your best interests.
In general, we don’t recommend getting consumer product extended warranties on electronics. It’s highly unlikely you’ll ever make a claim on this insurance because you likely won’t need it. Insurance on your automobile and home are critical primarily for the liability coverage (although not always the best value for your money). Protecting you and your ability to earn an income is key to creating any assets and future financial wealth. You are the goose that lays the golden egg and let’s face it, it makes way more sense to insure you then it does the eggs.
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Asset Protection Plan
An asset protection plan outlines how you will manage various risks to your assets. For example, professional liability coverage manages the risk you carry of causing real or perceived harm to your patients. It’s critical to ensure that your livelihood, business and personal life are not ruined due to a possible misjudgment.
We start by reviewing the risks that could threaten your financial security. Then we identify ways to manage those risks. Risks that you cannot assume yourself are then transferred to an insurance company.
When evaluating risks, we need to look at how severe the consequence would be to your home, your business, your family and your goals. If the consequence will be minor and financially manageable, like when you break your cell phone, no action needs to be taken.
If there will be a significant impact to your finances and standard of living, plans need to be put in place. For example, what would happen if you were in an accident and couldn’t work for six months?
In other cases, you could face dire consequences. Such risks should be transferred to an insurance company.
Asset Protection Strategies
The strategies you implement will depend on whether you want to avoid, reduce, transfer or retain the risk. You can avoid risk by not doing the risky thing and you can reduce it by, for example, wearing your seatbelt when in a vehicle in case of an accident.
You transfer risk using insurance, as discussed above, and risk retention is for the little things you can handle, like the broken cell phone.
Asset protection is a key piece of financial planning and gives you peace of mind as you know you can financially handle whatever life throws at you. We’d love to help you manage your assets and your overall finances to empower you and your wealth.
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I’m relieved to finally see my investments growing in a healthy, sustainable way. Before working with Roxanne, I was stuck in a bad insurance policy that was basically self-destructing and no one had ever taken the time to explain it to me. She broke it all down clearly, helped me understand what was really happening, and showed me a completely new way to think about financial planning and wealth management. I finally feel confident about my financial future.
Estate planning to me was a daunting and stressful task. I knew it had to be done but where do I begin? How do I divide my estate? To whom? How much? The list goes on. However, lucky for me my estate planner, Roxanne Arnal has my back. What an enormous relief to have a person who knows the right questions to ask and delves into areas you had no idea existed. In the end, having an estate planner and having a plan in place is the best move you can make for your own piece of mind!
We have enjoyed and trusted Roxanne since we started doing business with her some five years ago. Over that period of time, Roxanne has expanded her knowledge and association with some great investment minds. Confidence is required in any relationship, and we are confident with Roxanne and her team even in these volatile times. We are looking forward to a great future.
Roxanne has provided me with peace of mind financially and a clear path to retirement.
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Contact us today. We look forward to working together to solve your challenges and assist you in achieving your goals.