The wealth management industry is experiencing a period of change and disruption, leaving many financial advisors feeling that they need to find new ways to provide additional value and grow their businesses.
One way that financial advisors can provide additional value and grow their business is by understanding and addressing their clients’ Property and Casualty (P&C) insurance needs, i.e. protection for their home, auto or jewelry or liability exposure. Many successful families and individuals are not adequately protected against such risks and may not achieve their financial objectives because of unexpected and unprotected P&C losses.
A recent study from our sister company, Oliver Wyman, and one of our specialized insurance carriers, Chubb, explores how wealth managers can provide additional value and grow their business by giving clients what they want.