RISK MANAGEMENT AND INSURANCE

Risk management is intended to minimize financial and other losses potentially associated with risks to your assets, business, or health.

Risk management

Insurance

Your first line of defense is to identify your sources of risk and tolerance for them, and then either avoid or minimize exposures to income and your survivors.

Some examples of risk include

  • Personal and professional liability
  • Property loss
  • Catastrophic illness or disability
  • Business ownership
Risk management concept with female advisor going over documents with a male client.

RISK MANAGEMENT

If your first line of defense is to identify and mitigate risk, your last line of defense is insurance. Prudent risk management may involve a handful of risk prevention vehicles as well as purchasing life, long‑term care, and disability insurance.

Risk management is a critical component of wealth management, and a good insurance strategy will be well‑coordinated with your overall plans for business, investments, taxation, estate, and retirement.  While financial professionals can perform many functions of the risk management process, some activities require the expertise of insurance specialists.  We may work closely with an insurance specialist to focus on your risk management.

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The Financial Advisor(s) associated with this website may discuss and/or transact business only with residents in states which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state. Please check Broker Check for a list of current registrations. Information presented on this site is for informational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any product or security.


Securities offered through Commonwealth Financial Network ®, member FINRA/SIPC, a Registered Investment Advisor. Advisory services and financial planning offered through Global Wealth Advisors are separate and unrelated to Commonwealth.Fixed insurance products and services are separate from and not offered through Commonwealth Financial Network. Global Wealth Advisors does not provide legal or tax advice. You should consult a legal or tax professional regarding your individual situation.