As many begin the New Year with the formation of hopeful aspirations (or necessary modifications!), one such goal within the RIA practice could be to review one's current strategy for fiduciary risk-transfer, or broader yet, one's total Fiduciary Risk-Management Program.
The subject of risk-management can be categorized into four main strategy fields - let's call them "The 4 Pillars of Risk-Management". These "pillars" constitute the support for your risk-management plan. They are: (#1) Risk Avoidance, (#2) Risk Retention, (#3) Risk Control, and (#4) Risk Transfer. Every good RM plan will possess components from each field; some avoidable, some intentional.
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With increased levels of litigiousness, and the resultant increase in the level of risk associated with being an investment advisor, the obvious question is what can be done to manage and/or control that risk?
The Portland Business Journal has recognized Golsan Scruggs as one of the top commercial insurance agencies in the Portland/Vancouver metropolitan region.
