Accumulating assets for a professional’s wealth management plan is critical to achieving financial security and in taking several steps backwards due to an unforeseen event, resulting in damage or property loss from an unfortunate liability claim. Asset protection for our professional clients is vital to consider in constructing and maintaining their financial plan. In an increasing litigious society proper risk management tools need to be part of a professional’s financial plan. Professionals are exposed to additional risks that the average person is not (due to the profession they are engaged in and the specialized skills they provide).
In addition to the normal liability and asset exposures, more risks exist for professional liability within a professional’s comprehensive financial planning, While not all risks can, or should, be covered by insurance proper titling of assets, and potentially trusts, are reviewed to mitigate any potential liability issues.
We work with our families and individuals, who engage us to prepare and monitor their financial plan, helping them to understand their risk areas. A solid risk management plan, that does a 360-degree assessment of the risks that need to be minimized, mitigated or insured is critical to smoothing and maintaining the path to true financial independence.
White Oaks serves professionals nationally from our offices in the Minneapolis-St. Paul, MN metro area and the Sarasota, FL metro area. The White Oaks’ team, comprised of CERTIFIED FINANCIAL PLANNER™ (CFP®) professionals, Certified Public Accountant (CPA) and Chartered Financial Analyst® (CFA®), in cooperation with existing advisors and agents, will develop and implement a solid financial plan on a fee-only basis to manage risk appropriately.