Grow your firm, protect your margins
More than ever, wealth and asset managers face a delicate balancing act between the demands of business and client needs. If you’re a financial advisor seeking to provide comprehensive, holistic service to your clients while growing as a firm and protecting your margins, Property and Casualty insurance may be the key to your success.
P&C insurance solutions include home, auto, umbrella, collectibles, lifestyle, and motorized toys insurance. These offerings allow your clients the same peace of mind in their P&C program as they have in their asset management. According to Chubb, 77% of high-net-worth clients assume their advisors are reviewing their personal insurance needs, but only 28% of advisors currently do so.
At AiK2, we believe that most financially accomplished families are overpaying for sub-par insurance that doesn’t adequately protect them, and it is the lack of proper advice that underlies why these families do not have the coverage they need. Your clients need to understand not all insurance policies are created equal, from exclusions to available enhancements like worldwide liability or cyber insurance, and you should be their source of counsel.
Not only are insurance services top-of-mind for clients, but offering these services at your firm allows you to add value to what you’re already doing, bring in additional revenue to grow your firm and protect your assets under management.
Add value to what you’re already doing
Your clients have valuable assets, including their home, car, and loved ones, so safeguarding these priorities is crucial. That’s why it’s essential now more than ever to partner with a top-tier insurer that specializes in catering to affluent individuals, ensuring the highest level of service to these important clients.
Providing insurance offerings like these allows you to help clients protect the wealth they’re building and take a 360° approach to your client’s financial needs. Become the quarterback by coordinating all parts of their financial ecosystem in one streamlined plan.
Drive additional revenue for your firm
Adding private client insurance offerings can accelerate revenue growth and protect margins at a time when market volatility has firms concerned about overall profitability. Increasing your insurance arsenal builds the bond of trust you have with your clients. Expanding offerings also fuels organic growth by capitalizing on opportunities that might not have been feasible without a partner like AiK2.
Leverage our expertise and decades-long relationships with major insurance carriers to expand your offerings and generate revenue.
Protect your assets under management
For clients who are not properly protected and insured, a natural disaster or other catastrophic events can require them to pull significant assets out of their investment portfolio to cover the losses or pay for repairs.
Proper personal insurance is not only necessary for your clients, but also imperative for your firm.
Offering Private Client P&C Insurance as an Advisor
There are many types of P&C insurance products available, along with different companies that offer them. In our experience working with wealth managers, it’s about offering the right products like auto insurance, home or property insurance, excess liability insurance, collectible insurance, lifestyle insurance, and motorized toy insurance. Along with acting as a fiduciary in shopping their clients’ needs with multiple carrier options with the clients’ interested in mind, not a specific carrier agenda.
AiK2’s insurance solutions are designed specifically for the distinct needs of wealth and asset managers and include the ability provide unbiased opinions on current programs, P&C market analysis for your clients and customizable product options.
At AiK2, our entire philosophy around insurance is to keep it simple and transparent. We have brought together industry-leading insurance, wealth management, and insurance technology experts to study every data point, transforming the P&C insurance process.
The very first item on the agenda is to examine your client’s current exposure with our lifestyle questionnaire. From this, we can help provide a lifestyle review with recommendations for any overlooked risks in the current program based on how they live day to day life.
If they are not adequately covered for property and casualty risks, we’ll work with our trusted partners to find the best coverage to meet their needs. We’ll then present options in a market analysis to help your clients choose the best path for protecting the lives they’ve built.
How we partner with Naviter Wealth
AiK2 works with Naviter Wealth in helping them deepen relationships with their clients and increase their revenue streams. Naviter Wealth is committed to helping families who have accumulated significant wealth – typically from a liquidity event – navigate critical and complex financial decisions.
AiK2 allows Naviter to access a high-net-worth insurance platform from KORE Insurance, one of the nation’s largest privately owned Property and Casualty (P&C) firms and brought in the addition of a valuable service to Naviter clients (insuring cars, boats, planes, homes, etc.), deepening relationships.
“The benefits of working with AiK2 go beyond buying insurance for our firm. Through their relationship with industry leaders, we now have exclusive access to insurance platforms that we can offer our clients – this sets us apart from other firms and broadens the conversations we have with our clients,” said Bentley Blackmon, CEO of Naviter Wealth.
As a broker, we seek to make the process seamless. Whether it’s home, auto, umbrella, collectibles, or even motorized toys, we’ll help protect what matters most to your clients.
To learn more, call us at (973) 314-2549 or email us at firstname.lastname@example.org, and a member of our team will be in contact with you soon.