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Financial Planner Insurance

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In finance, finding someone who can plan, strategize, and manage investments on your behalf isn’t easy. That’s why certified financial planners like you are so valuable.

Whether you’re dealing with a company, an individual, or a family, however, money is serious business. And as a result, there are serious professional risks involved with putting together long-term financial plans on behalf of other people. 

You’ve worked hard to get your degree and pursue your professional designation. Getting top-notch financial planner insurance allows you to protect everything you’ve worked hard to build.

Here are 3 Insurance Options that Financial Planners May Wish to Explore

financial planner insurance
Looking for Financial Planner Insurance in Canada? Contact us HERE to get an online quote now!

1. Professional Liability Insurance

In your line of work, you have a lot of financial statements, strategies, and general paperwork that you have to go through. Over the course of a multi-decade career, there are plenty of chances for mistakes to be made. 

Maybe you forgot to review a paper during an especially busy period. Perhaps a client misunderstood you in a big way. Maybe there were no oversights on your end, but there was an economic downturn that damaged the investment portfolio. 

Professional liability insurance, which you may know as Errors and Omissions insurance, may be able to assist you with legal fees and judgement costs if a former client sues you for negligence. 

2. Commercial General Liability

For many people, the term “financial planner” conjures up images of suits and classy offices. 

There are several compelling reasons for financial planners to want an office:

  • You have a secure place to store the financial information you work with
  • You can meet client expectations
  • You have more separation between your work life and your personal life

But along with the perks of having an office, there’s always a chance that someone could slip and fall while in your building. And if your clients are more advanced in age, the chances of a serious injury can only go up from there. 

Commercial general liability coverage applies to situations where a third party suffers bodily injury and/or property damage while visiting your office. 

3. Cyber Liability

More and more financial planners are turning to the cloud for their data and storage needs. From a workflow perspective, it’s convenient, it lets you work anywhere, and it’s easy to accept payment if your clients book time with you online. 

With the rise of data breaches and hacking scandals, however, it’s important to have a plan in event of a worst-case scenario. Whether you’re dealing with a cyber extortion scheme or a major data breach, cyber liability insurance can help you protect your clients, your professional reputation, and your business from the aftermath of a cyber disaster.

Here’s Why You Should Work With ALIGNED for Your Financial Planner Insurance Needs

As a financial planner, you have to sell your clients on you as a person. To that end, getting fully insured can help you enhance your reputation while also helping you protect your career. Here at ALIGNED, we’re passionate about delivering excellent insurance solutions to financial planners. Get your FREE financial planner insurance quote today! 

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