RISK MANAGEMENT ADVISORYCover All Your Angles For Absolute Peace Of Mind, For You And Your Loved Ones
A sound and proper risk management plan is an elaborate strategy to protect not only our own interests but also to our dependents and loved ones taking into consideration many aspects based on each individual's unique lifestyle and needs, when tragedy strikes.
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I adopt a comprehensive methodology to evaluate and design a risk management plan encompassing :
▪ Risk Assessment
▪ Risk Analysis
▪ Risk Placement
▪ Review & Monitoring
Risk Assessment
Beginning with the question 'why are we doing it' by detailing and evaluating different 'pre-loss' and 'post-loss' scenarios while quantifying them in order to access the impact to a person's financial standing. By identifying the impact of risks involved and how it will affect the person's financial goals, they can be prioritised for urgency in planning and necessary measures to be taken.
Risk Analysis
Quantitative analysis on the financial impact and costings involved in placing the safeguard measures or by risk placements to third parties. Risk transfers to third parties comes at a price, and every cent saved from a thorough study on long term costs from various risk management tools available will contribute to achieving financial independence faster.
Risk Placement
The process to 'outsource' the risk to third parties, mostly by placement to insurers or re-insurers who will accept the potential loss exposure. Brokering amongst the different institutions to gain the most advantageous terms.
Review & Monitoring
Earnings may rise, debt levels may change, new needs may arise from changing life events (e.g. children coming into the picture which gives rise to education and/or guardianship needs) and life circumstances may occur (e.g. divorce and giving rise to alimony payments) which requires the adviser to work jointly with the client to review and make necessary adjustments to the risk management plan in place on an on-going basis. Monitoring ensures that the initial plan continues to evolve to cover future needs as they arise.
▪ Risk Assessment
▪ Risk Analysis
▪ Risk Placement
▪ Review & Monitoring
Risk Assessment
Beginning with the question 'why are we doing it' by detailing and evaluating different 'pre-loss' and 'post-loss' scenarios while quantifying them in order to access the impact to a person's financial standing. By identifying the impact of risks involved and how it will affect the person's financial goals, they can be prioritised for urgency in planning and necessary measures to be taken.
Risk Analysis
Quantitative analysis on the financial impact and costings involved in placing the safeguard measures or by risk placements to third parties. Risk transfers to third parties comes at a price, and every cent saved from a thorough study on long term costs from various risk management tools available will contribute to achieving financial independence faster.
Risk Placement
The process to 'outsource' the risk to third parties, mostly by placement to insurers or re-insurers who will accept the potential loss exposure. Brokering amongst the different institutions to gain the most advantageous terms.
Review & Monitoring
Earnings may rise, debt levels may change, new needs may arise from changing life events (e.g. children coming into the picture which gives rise to education and/or guardianship needs) and life circumstances may occur (e.g. divorce and giving rise to alimony payments) which requires the adviser to work jointly with the client to review and make necessary adjustments to the risk management plan in place on an on-going basis. Monitoring ensures that the initial plan continues to evolve to cover future needs as they arise.