Last year Russ Alan Prince wrote an outstanding article for Forbes about the integral role life insurance has within wealth management practices. As he mentions, almost 80% of wealth managers within multi-family offices have turned towards outsourcing life insurance expertise, largely due to the specialized knowledge that this field requires. At the same time, the financial advisor always remains in charge of the case and the life insurance advisor provides the technical support and implementation assistance as needed.
Throughout all of this, it is a win-win for everybody involved: the life insurance specialist, the wealth manager, and most importantly the client and his family!
Read the article yourself: The Outsourcing of Life Insurance In Wealth Management And Multi-Family Office Practices