AiK2 Insurance Services

Every advisor wants high-net-worth clients. An easy way to differentiate your firm from the crowd is to extend your planning to risk management.   Today most advisors spend little time on risk mitigation. An accomplished individual or family has complexity through ownership of multiple cars and homes in different states, board appointments, international travel, private aircrafts, and asset titling. With complexity comes risk and with risk comes exposure. When that exposure results in a loss, as an advisor, you’ll be the first call they make to redeem assets. Be their advocate and protect assets by adding P&C risk management. To learn more about how to add AiK2 Private Client as an extension of your team visit: www.aik2.com.

Acquisitions and tuck-ins in the RIA space are continuing at a breakneck pace. However, many acquirers make two critical mistakes that expose them to undo risk post transaction. 1.      Not reviewing and understanding the risk that may be coming along with the new firm or advisor: It is critical to align your practice with a firm that can review P&C policies of the acquired firm and identify gaps and uncovered risks. Adding tail coverage extends the claim reporting window for the acquired firm and reduces the impact to the acquiring firm’s existing policies. 2.      Widening services through an acquisition creating a gap: Many firms are acquiring to add new service/revenue lines. As those services are added, they may not be covered under your current policies. To avoid unexpected claims using a broker that really understands the advisory business is critical. AiK2 was built by advisors for advisors. Our team of experts can help you avoid these issues by reviewing all policies to ascertain risks and gaps. Reach out and let us help!

Most RIAs spend very little time when buying P&C insurance for their firm resulting in uncovered losses and inflated premiums. The following questions should be asked by all brokers insuring RIAs. If your broker has not asked you these questions, it is time to work with a firm that understands RIAs. ·        Do you have a portfolio accounting system (Envestnet | Tamarac, Black Diamond, Orion, Advyzon )?  ·        Do you execute trades or outsource trading to a third party? ·        Do you trade options or futures? ·        Do you do GP/LP alternative deals for your clients? ·        Do you have custody of any client assets? AiK2 was built by RIAs for RIAs. Our staff understands all aspects of the RIA landscape and advocates daily on behalf of our RIAs for better coverage and lower premiums. For a complimentary review reach out to sales@aik2.com or visit www.aik2.com.

The SEC’s new proposed Cyber policies could be devastating to RIAs who are not prepared.   Here’s what you need to know: ·        Breaches must be reported to the SEC within 48 hours and, if material, all clients must be informed. ·        Breaches must now be listed in a firm’s ADV and are permanent. Here are three questions to ask yourself: ·        Does your firm have stated policies and procedures regarding cyber security? ·        Does your firm have annual penetration testing to certify your policies? ·        Does your Cyber policy cover funds transfer fraud AND social engineering? We have solutions: ·        Make sure that your tech stack includes dual authentication. If you’re in search of a cloud-based IT partner, we’re happy to provide recommendations. ·        Have confidence that you have the right coverage in place in the event of a loss. Get Cyber Insurance provided by AiK2. Be proactive about putting safeguards in place and stay ahead of SEC rule changes. Reach out to sales@aik2.com or connect with our VP, Dan Jones, to discuss further.

Yes, structured note products have a bad reputation, but it’s mainly because advisors get too caught up in the details. Instead, the focus should be on the overall value and investment experience these products can offer. Halo Investing CEO, Matt Radgowski, and his team are making these products more accessible and efficient for everyone. Check out the latest Deep Dive episode to learn more.

When running a firm, the “noise” can distract the organization. It’s important to remember that clients only pay for what matters to them. If you don't focus on their priorities, you'll waste valuable time and resources. Keep your focus on your clients if you want to see success. Check out the full episode of the podcast with Peter Raimondi here. https://lnkd.in/eZJ4F2PK

It's a rare feat for anyone to build a single firm worth over a billion dollars in assets, let alone three. Peter Raimondi has accomplished just that. We could all learn a thing or two from this wealth management legend.

How should you think about capital structure and running a firm in the future? It's a complex question, but Dave Fulton, CFA has a simple answer. In the latest Deep Dive podcast, he shares his insights on this topic. If you're looking to improve your capital structure and run your business more effectively, this episode is a must-listen. https://lnkd.in/eDX7-4vP

When was the last time you reviewed your client's P&C insurance policies? A lot can happen in a year, and your client's insurance needs may change just as quickly. Whether they've had a major life event or just purchased a new home or car, their insurance coverage should reflect their current needs. At AiK2, we give you and your clients confidence in knowing they’re covered regardless of what life throws their way, watch our recent webinar to learn more about why P&C should be a pillar in your planning: https://lnkd.in/enibhR33

Looking for culturally compatible independent advisors is a hard thing to find, but Dave Fulton, CFA, and his team at Clearstead have found a way to do it. In the latest episode of The Deep Dive Podcast, David shares his insights on how to attract and integrate top talent and build a multi-generational firm that lasts. Watch the episode to learn more.