Why is Risk Management Being Overlooked?

Most, Bruce W.
April 1998
Journal of Financial Planning;Apr98, Vol. 11 Issue 2, p48
Academic Journal
The article looks at the reasons why insurance is often overlooked by financial planners in the U.S. and their clients. Several financial planners and insurance experts are not emphasizing enough the area of risk management, not only life insurance but also disability, health, long-term care and liability coverage. Findings from the annual surveys conducted by the College for Financial Planning have revealed that demand by consumers for specific insurance plans ranked near the bottom. To improve the area of risk management, most of the planners and insurance experts agreed that financial planners should accomplish at least a minimum in two main areas of insurance: an initial inventory and assessment of the client's insurance needs and a consistent monitoring of those policies and needs in subsequent years.


Related Articles

  • Planning for Catastrophe. McCarthy, Edward // Journal of Financial Planning;Apr98, Vol. 11 Issue 2, p60 

    The article examines the approach used by several financial planners in the U.S. to help their clients plan life's unpleasant events. Recognition of the risks to a client's net worth is a critical step, however, it is not a solution. The technical facets of evaluating insurance policies does not...

  • Financial Planning Critical Regardless of Wealth. Marsh, Ann // Bank Investment Consultant;Aug2012, Vol. 20 Issue 8, p6 

    The article reports on the critical condition of financial planning regardless of the U.S. wealth. A survey reveals the benefits of personal financial plan in reaching the financial goals of the rich and the poor. It points out that the plan helps increase the effectiveness and confidence of an...

  • Consumers Value Advisers' Certifications, Training, Experience.  // Plan Advisor News;2014, p95 

    The article discusses the highlights of the Certified Financial Planner (CFP) Board of Standards survey on the key qualities that consumers look for when choosing a financial adviser. Findings include the high value placed by consumers on the advisers' knowledge, the type of advice they provide,...

  • PRACTICE TRENDS: How Does Your Practice Measure Up? McClune, Sheila // Journal of Financial Planning;Mar2011 Research Spotlight Suppleme, p9 

    The article reports on the improvement of the financial planning market in the U.S. amidst the competition. It cites a survey on financial planners conducted by the Financial Planning Association (FPA) concerning their financial plan development practices and fees. It mentions that financial...

  • FPA and LifeCare Launch Financial Education Program.  // Plan Advisor News;2014, p94 

    The article reports on the Financial Planning Association's (FPA) partnership with work-life service company LifeCare to provide financial education to American workers. Topics discussed include the partnership's aim to improve the overall financial wellness of employees, the provision of...

  • Guilt, Ego, and Monthly Paychecks: Threats to Wealth Building. Adkins, Rick // Journal of Financial Planning;Jul2011, Vol. 24 Issue 7, p26 

    The article focuses on the three sources of challenges for financial planners in helping clients build and keep their wealth in the U.S. such as guilt, ego, and monthly paycheck mentality. It mentions that one of the tougher threats of advisers can be assisting a surviving spouse who has...

  • Happy Birthday! Asner, Marion // Financial Planning;Sep2005, Vol. 35 Issue 9, p14 

    Looks at the developments in the financial planning industry in the U.S. Description of the current state of the industry as of September 2005; Challenges encountered by professionals in the industry; Issues that affect the industry.

  • Succession Planning, Risk Management, and Sundry Thoughts on the Big Easy. Thompson, Duane // Journal of Financial Planning;Nov2005, Vol. 18 Issue 11, p24 

    This article considers the future of U.S. financial planners whose lives were disrupted by Hurricanes Katrina and Rita. Specifically, the author describes the extent to which these financial planners were affected by the hurricanes. He asks such questions as how these financial planners will...

  • Stay Competitive. Ellis, Rebecca // Advisor Today;Jan2006, Vol. 101 Issue 1, p54 

    The article presents information on the Financial Services Specialist (FSS) coursework. The FSS curriculum focuses on sales skills and technical knowledge specifically for financial-services professionals. The curriculum is timely, considering the current dynamics of the U.S. financial planning...


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics