The Missing Piece of Financial Planning - Property and Casualty

Date: Thursday, February 21, 2019
Time: 5:30pm - 8:00pm
Location: Jumping Brook Country Club, Neptune, NJ
Speaker: Brian P. Boak

The Missing Piece of Financial Planning -
Property and Casualty

Chubb’s recent research found that only 28% of financial advisors address their clients’ P&C insurance needs, even though 77% of successful individuals want their advisors to provide that support and nearly 40% would consider switching to an advisor who provided it.

Key Takeaways:

  • Many advisors to the highly successful mistakenly assume clients have no P&C issues; or assume specialized knowledge is required to begin the conversation.
  • The Top Ten discovery questions to uncover weaknesses in the client’s property and casualty coverage.
  • The most common property and casualty mistakes of the affluent.

In The Missing Piece of Financial Planning – Property and Casualty, you will understand how property and casualty exposures relate to comprehensive wealth management and estate planning. What good is perfect asset allocation, correctly structured life insurance and even a plan for “asset protection”, if an uncovered property or liability claim can wipe out several million dollars of assets? As clients grow, their risks get more complex and they could easily outgrow their coverage or their broker. We will examine the Top Ten Risk Management Questions advisors should be asking their clients in reference to property and casualty and why they matter. Next we will review the most common property and casualty mistakes made by the affluent along with some of the specialty coverage they may need based on their lifestyle. We will finish with a Case Study of how wrong things can go when the property and casualty advisor is not brought into the wealth management/estate planning team.

Brian Boak has been in the insurance industry for over thirty years, starting as an agent, then managing a staff of agents, to partnering with another agent to grow an insurance and financial planning firm. Since 2000, he has worked specifically with single and multi-family offices, highly successful families and their advisors to manage the risks associated with personal property and casualty.  

In early 2018 he formed BOAKS Advisors to provide Fee-Only Insurance Advisory services for personal property and casualty, breweries and distilleries. Brian recently joined USI Insurance Services, the largest privately held insurance broker in the US with over 150 offices nationally. Using his extensive experience and USI’s national team, he manages the process of identifying and assessing risk, providing guidance and developing mitigation strategies to minimize personal exposures and offer superior custom solutions to maintain lifestyles. 

In addition, Brian founded BOAKS Beer in 2007. Starting from a MrBeer™ kit to contracting with two breweries and several distributors to bring BOAKS throughout New Jersey and Pennsylvania. After closing BOAKS in 2016, Brian stayed in the craft beverage world by advising breweries and distilleries on risk management and insurance needs. He also founded the Brewers Roundtable and Distillers Roundtable, a moderated peer-learning forum open to owners of breweries or distilleries to discuss all facets of running their business. 

Brian started his educational path in the ‘90’s teaching LUTC classes to new insurance agents for the American College. He has presented at the Financial Planning Association’s National Conference, panel discussions, and is brought in as subject matter expert for Cal Lutheran and Texas Tech Universities Financial Planning Undergraduate and MBA Program. 

Brian lives in Wayne NJ with his wife Jan and mini-dachshund Jessie. He holds a BS in Finance and Marketing from the University of South Carolina. Currently, Brian is the Membership Chair of The Estate Planning Council of New York City and the Past-President of The Estate Planning Council of Rockland County. He holds the designation of Chartered Private Risk and Insurance Advisor, CLU and LUTCF. He is currently working on his CFP designation 
When Brian is not advising clients, he enjoys spending time with his grandchildren, cycling, tailgating and BBQ’ing at Giants Stadium and relaxing with Jan and Jessie. 

Program Length: 1 hour
Recommended Audience: Family Office, CPA’s, T&E Lawyers, Wealth Advisors and other Advisors of High Net Worth Families

BOAKS Advisors
Fee-Only Risk Management for Property and Casualty
Analyze – Advise – Protect
Brian P. Boak
Chartered Private Risk and Insurance Advisor, CLU, LUTCF
Insurance Fiduciary, P&C

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