{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"The Value of a Financial Advisor: Managing Inherent Risks","description":"&amp;nbsp; 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. &amp;nbsp; &amp;nbsp; Episode Highlights: &amp;nbsp;  01:56 \u2013 How does insurance come into play with life and death situations? 02:40 \u2013 What are you doing to manage your downside risk? 04:05 \u2013 There is a cost to waiting too long for insurance. 05:56 \u2013 Bill Bush shares a personal insurance story. 07:05 \u2013 Why do some folks underestimate their insurance needs? 08:52 \u2013 How does an advisor go about managing inherent risks? 10:19 \u2013 Usually there are financial incentives to get insurance evaluated. 11:27 \u2013 Motivate clients to take actions on steps towards their insurance needs. 13:01 \u2013 Focus on the difference between the cost of the insurance premium and the cost of the problem.  &amp;nbsp; 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\u2019s 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.  &amp;nbsp; Tweetable Quotes:  \u201cLife 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.\u201d \u2013 Bill Bush. \u201cIt\u2019s important to separate out the cost of the problem from the cost of the solution \u2013 Pete Bush. \u201cYou should monitor your beneficiaries, kind of review that, maybe in an annual review with an advisor.\u201d \u2013 Bill Bush.  &amp;nbsp; &amp;nbsp; Resources Mentioned:  Horizon Financial Group The Confident Wealth Podcast  &amp;nbsp; ","author_name":"The Confident Wealth Podcast","author_url":"http:\/\/confidentwealth.libsyn.com\/website","html":"<iframe title=\"Libsyn Player\" style=\"border: none\" src=\"\/\/html5-player.libsyn.com\/embed\/episode\/id\/9779246\/height\/90\/theme\/custom\/thumbnail\/yes\/direction\/forward\/render-playlist\/no\/custom-color\/88AA3C\/\" height=\"90\" width=\"600\" scrolling=\"no\"  allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen><\/iframe>","thumbnail_url":"https:\/\/assets.libsyn.com\/secure\/item\/9779246"}