Asset Management and Protection is the entire cycle of building wealth through strategies like acquiring, maintaining, and trading investments of various kinds to potentially increase their value over time. Our holistic approach to management includes well-defined objectives for each asset.
Asset protection embodies strategies created to help neutralize the effects of events that may be catastrophic to your financial situation. Many times, the actual events cannot be prevented, but in more instances, the negative consequences can be significantly reduced or eliminated. Some strategies employed to accomplish asset protection are the following:
- the procurement of insurances specific to the risks being covered,
- the transfer of asset ownership to trusts, and
- proper diversification within investment portfolios.
Simply put, unless each potential risk, which has a reasonable possibility of occurring, is covered, asset protection may be limited to hopes, prayers, or wishes.