The Value of a Financial Advisor: Managing Inherent Risks
Release Date: 05/14/2019
Divorce: The Effect on Finances & Family, Pt. 2
The Confident Wealth Podcast
During this episode of The Confident Wealth Practice Podcast with Bill Bush and Pete Bush, they interview Sean McAllister, Associate at Loeb Law Firm. Sean McAllister discusses how married couples can protect themselves from potential divorce issues, prenuptial agreements and post-prenuptial agreements, budgeting, and domestic cohabitation contracts.
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Divorce: The Effect on Finances & Family, Pt. 1
The Confident Wealth Podcast
During this episode of The Confident Wealth Practice Podcast with Bill Bush and Pete Bush, they interview Sean McAllister, Associate at Loeb Law Firm. Sean McAllister talks about Louisiana Revised Statute 9:315, understanding divorce and finance, and what to expect when children, pensions, property, and tax returns are involved.
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Confidence in the Face of Fear
The Confident Wealth Podcast
In this episode of The Confident Wealth Podcast, Pete and Bill Bush of Horizon Financial Group discuss the market downturn due to the outbreak of the coronavirus, and the declared global pandemic. Pete and Bill talk about strategies can you use to stay positive in times where your account value is declining. How can you build, gain, or maintain confidence during trying times?
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Defending Cybersecurity Threats in Your Financial Life
The Confident Wealth Podcast
This episode of The Confident Wealth Practice Podcast with Bill Bush and Pete Bush address the problems and issues associated with cybersecurity and how to protect yourself. Learn more about the financial scams that are targeting your credit cards and digital banking accounts. The cybersecurity defenses discussed in this episode can help you build up a stronger wall of protection from becoming a victim.
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Lessons from a National Title
The Confident Wealth Podcast
This episode of The Confident Wealth Practice Podcast with Bill Bush and Pete Bush take a look at the recent college football championship victory of the Louisiana State University Tigers and how the valuable lessons from that win can be applied to achieving your own financial success.
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The Value of a Financial Advisor: Leaving a Legacy, Life Transitions, and Caring for Others
The Confident Wealth Podcast
During this final installment of the series, Bill and Pete talk about the problems associated with not having a will, the value of having an advisor to walk clients through the process of estate planning, organizing and maximizing value, getting help with gift money to causes, how to handle life transitions, and how to prepare for taking care of your parents or other family members in the future.
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The Value of a Financial Advisor: Preparing for Retirement
The Confident Wealth Podcast
his episode of The Confident Wealth Podcast with Bill Bush and Pete Bush is the 8th installment in their series, The Value of Working with an Advisor. During this installment, Bill and Pete address the subject of preparing for retirement in a manner that you can feel confident about. What type of retirement goals do you have for you and your spouse? How will your financial needs change during different phases of retirement?
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The Value of a Financial Advisor: Organizing, Monitoring & Guiding
The Confident Wealth Podcast
This episode of The Confident Wealth Podcast with Bill Bush and Pete Bush is the 7th installment in their series, The Value of Working with an Advisor. Listen and learn all about how financial advisors can assist you with preparing, analyzing, and guiding your ever-changing financial situation. Bill and Pete point you in the right direction for budgeting, reviewing recurring fees, and overcoming disorganization.
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The Value of Financial Advisor: Budgeting & Cash Flow
The Confident Wealth Podcast
This episode of The Confident Wealth Podcast with Bill Bush and Pete Bush is the 6th installment in their series, The Value of Working with an Advisor. Gain some useful insight on budgeting and cash flow. Find out how financial advisors can help clients get a handle on their budgets, find out where their problematic areas are, and how to go about building healthier spending and savings habits.
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The Value of a Financial Advisor: Managing Inherent Risks
The Confident Wealth Podcast
This episode of The Confident Wealth Podcast with Bill Bush and Pete Bush continues on as the 5th installment in their series, The Value of Working with an Advisor. Learn more about the inherent risks we have, and how we can manage them from a financial advisement standpoint.
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This episode of The Confident Wealth Podcast with Bill Bush and Pete Bush continues on as the 5th installment in their series, The Value of Working with an Advisor. Learn more about the inherent risks we have, and how we can manage them from a financial advisement standpoint.
Episode Highlights:
- 01:56 – How does insurance come into play with life and death situations?
- 02:40 – What are you doing to manage your downside risk?
- 04:05 – There is a cost to waiting too long for insurance.
- 05:56 – Bill Bush shares a personal insurance story.
- 07:05 – Why do some folks underestimate their insurance needs?
- 08:52 – How does an advisor go about managing inherent risks?
- 10:19 – Usually there are financial incentives to get insurance evaluated.
- 11:27 – Motivate clients to take actions on steps towards their insurance needs.
- 13:01 – Focus on the difference between the cost of the insurance premium and
- the cost of the problem.
3 Key Points:
- The cost of the solution is always a fraction of the cost of the problem.
- Evaluate your need to find potential solutions for it.
- The steps for an advisor to manage a client’s inherent risks include: full analysis, figure out what is already in place, see if there are any gaps that need to be filled, keep reviewing, and motivate people.
Tweetable Quotes:
- “Life is going to happen. Thus, death is going to happen too. And of course, that can leave a big financial hole in a family or a business.” – Bill Bush.
- “It’s important to separate out the cost of the problem from the cost of the solution – Pete Bush.
- “You should monitor your beneficiaries, kind of review that, maybe in an annual review with an advisor.” – Bill Bush.
Resources Mentioned: