Risk Management

JOYN’s 360-degree review of your risk helps you prepare for what’s next in life.

Risk management goes beyond managing investment risk in your portfolio, it also extends into planning for life’s unforeseen events that’s part of our Behavioral Wealth Management™ model. Working with JOYN advisors, we will help evaluate your risk exposure to other more tangible areas like your health, your profession, your business, and your property.

Life

We believe our lives are the result of the cumulative choices we make and random events. We have no control over the random events – but do we have some control over our choices. One of those random events, no matter how hard we try to control it, is when we pass away.

We understand this universal human fear, and help our clients explore that – with planning and foresight – you can make a choice to avoid the hardship of leaving your family without support when you get sick or once you die.

That’s why, in conjunction with our estate planning activities, our advisors guide clients through emotional conversations on what will happen as you age and explore options that can help minimize the financial impact of an unforeseen health or life crisis. These include:

  • Life insurance
  • Long-term care insurance
  • Disability insurance
  • Health Insurance*

Legal

Sometimes life throws you curve balls that require legal protection and support – especially as you accumulate wealth in your personal life and stature in your profession.

When these times arise, having the following risk mitigation tools can help offset legal risks:

  • Liability Insurance*
  • Creditor Protection Legal Strategies*

Business

Small business owners are particularly vulnerable to unforeseen risks to their companies. We work with business owners to help them protect against blind spots that could jeopardize their entire life’s work.

Key Man Insurance is one core risk mitigation tool we explore with our business owner clients. Key Man Insurance is protection of core members of your business that – if they were to pass away – would severely impact your company financially and operationally.

These insured individuals could range from key sales leaders to owners and vital operational executives. With Key Man Insurance, business owners are better able account for this potential risk and do what they do best: growing their businesses.

In Conclusion

Without proper risk management evaluation, you may leave yourself exposed. Oftentimes, these risks illicit strong emotional responses and are times of high anxiety – the anthesis of centered and confident.

In short, not a place to make your best financial and life decisions.

Contact one of our JOYN advisors to explore ways we can help you minimize your exposure to risk and get back to focusing on what’s important: living a meaningful, joyful life.

*In collaboration with trusted insurance partners

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Financial Benefits of Behavioral Advising

Better Advice. Better Decisions. Better Life.

There are significant financial benefits focusing on your behavior and making better decisions. Vanguard research and other academic studies have concluded that behavioral advising can add 1% to 2% in net return. (Source: Vanguard, 2016

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