For RIAs, A Vexing Insurance Dilemma
February 8, 2018 by Cyril Tuohy
A large majority of registered investment advisors (RIAs) offer clients insurance planning. But nearly half of all RIAs refer their insurance business to an outside insurance agent or specialist, a new benchmarking survey has found.
While 88 percent of RIA respondents said they offer insurance planning in some form, 49 percent refer the insurance piece to insurance professionals, the survey found.
In addition, 70 percent of RIAs agree insurance is key to a holistic financial plan, but only 25 percent of RIAs offer clients a range of insurance products, according to the “RIA Insurance Planning Benchmarking Survey.”
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