While environmental risks increases across the country, the storm season is again on the horizon for a large part of the United States, whether it is the potential for hurricanes to beat the coasts of Florida or for forest fires to sweep California, extreme meteorological events are becoming more and more likely, and for many more expensive experiences. For wealth managers and financial advisers, the challenge is clear: in a world where environmental destruction is no longer a rare event, but an expected risk, how do you prepare customers to suffer a natural or environmental disaster, and properly protect their properties and other assets that could be in danger?
Jeffrey Fractarcangeli, founder and CEO of Fractarcangeli Wealth Management, says that it is not a question of waiting for the disaster to strike; It is a question of proactively planning the worst potential scenarios while establishing financial objectives which explain long -term success.
“We can do an exceptional daily job by gaining competitive yields for our customers, but if a customer has a major event that has an impact on their expenses, or if the cost of protecting the event hinders their long -term objectives, it is much more disadvantageous than the performance of the mediocre market,” explains Fratarcangeli. “Fractarcangeli Wealth Management oversees billions of dollars in assets in our customer portfolio, and we make our business to understand their financial objectives, then connect them with appropriate resources. We take advantage of our network of experts to provide our customers with the opportunity to make sure they get a good price. ”
Here are four ways in which Jeffrey Fratarcangeli says that investors can better protect their assets:
Adopt a 360 -degree approach for the management of assets
The philosophy of Fractarcangeli is clear: the management of assets is not only to maximize investment yields, although this is a main daily objective; It is a question of understanding and safeguarding the entire financial table.
“You could make average annual yields of 10 to 12%, but if your insurance costs soar or if your inheritance plan is not in place, you can be exposed,” he explains. “It’s like going to the doctor and telling them to focus only on an area of your health, rather than allowing them to look at a 360 -degree view. It is not a complete image.”
The approach of Fratarcangeli Wealth Management to protect the complete financial situation of its customers involves calling on specialists in all disciplines – including tax planning, insurance and succession – and regularly review the plans to ensure that they are always aligned with customer objectives. Regarding inheritance planning specifically, the team revisits the plans with customers on a biannual basis, to ensure that when their inheritances come into force, everything for which they worked so hard is properly executed.
When possible, use the insurance negotiations scale
Insurance costs are not only a problem after a disaster strikes; They are now a persistent challenge in areas that are historically affected by natural disasters, such as coastal regions and forest areas. Fractarcangeli says that the Fractarcangeli Wealth Management scale and the depth network of experts allow their team to add protective measures for customers and obtain the best conditions, coverage and service as possible with the right insurance agency. The company creates a lever effect by pooling the needs of its customers when you work with several large insurance agencies to negotiate better conditions and coverage.
“We represent public companies, professional sports teams, high individuals and other organizations that have significant insurance needs. We use this scale to negotiate as a unified group, ”explains Fratarcangeli. “When an insurance company knows that we represent dozens of high -value customers, which can help us guarantee appropriate prices and coverage that protect customers as much as possible.”
By initiating high -level agencies throughout property and victims insurance, as well as health insurance, Fratarcangeli says that its team guarantees that customers obtain competitive prices even on the markets where premiums are increasing. Fractarcangeli Wealth Management also absorbs the increase in the cost and the workload of the identification and evaluation of potential solutions for customers, in order to minimize vulnerabilities.
“Our team is constantly examining cover options to ensure that it is assessed appropriately and aligned with exposure to the risks of each customer,” adds Fratarcangeli. “If there is never a complaint filed, insurance companies know that it is not only a customer who looks at positive results – that’s our entire organization.”
Consider captive insurance for high -risk scenarios
For customers with significant or unique exposure to environmental risks, Fratarcangeli sometimes recommends exploring captive insurance, a strategy where companies or individuals essentially create their own insurance company to cover specific risks. This approach allows customers to self-assure by putting aside the funds aside to cover potential losses, which gives them additional control over their risk management.
“Sometimes the best option is to control the risk directly by creating a captive,” he explains. “In this way, if you face an event in the event of a disaster, you have already planned it proactively instead of counting on an external policy which may not cover everything.”
Fratarcangeli also advises exploring additional cover options for high -risk unique scenarios.
Defender of legislative handguns
For certain risks, individual or group strategies are not sufficient. In these cases, Fractarcangeli highlights the importance of action at the state level as a crucial tool.
“Sometimes, like what we have seen in Florida, the only solution is to work with the legislators to implement anemia that helps to stabilize the market,” he said. “It is not necessarily something that you can control as an individual, but it is something that you can defend within the framework of a collective.”
Legislative background nets can help stabilize insurance markets and ensure that coverage of leftover available owners in high -risk areas.
Build financial resilience in a world of environmental risks
Extreme weather events and the risks they bring do not disappear anytime soon. For Fratarcangeli, the management of asset protection in the face of environmental threats means developing a complete strategy for each client: exploiting the scale of insurance negotiations, considering captive solutions, defending policies reforms and maintaining a 360 -degree view of each client’s financial life.
“We are not only here to buy shares and bonds,” explains Fratarcangeli. “We are here to make sure that our customers are protected throughout their financial landscape. It’s work. “
For more information from Jeffrey Fratarcangeli, visit www.fratarcangeliwealth.com.
Titles offered by Thurston Springer Financial, a registered broker (FINRA & SIPC member). Placement consulting services offered by Thurston Springer Advisors, investment advisor registered by the SEC. Insurance products offered by Thurston Springer Financial, an Indiana insurance agency.
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