Risk Management

We practice identifying potential risks in advance, analyzing them and taking precautionary steps to reduce or eliminate the risk. As this relates to individual financial planning, risk can be identified as the following:

  1. Premature death. The inability to take care of one's obligations in the future is a concern to all. Examples of this would include mortgage commitments, income replacement for loved ones or education funding.
  2. Disability. The potential loss of income while of working age must be considered.
  3. Long-term care. The financial and emotional burden to family for medical care associated with either in-home or facility medical services is a factor and can dramatically change someone's financial security. +

At Champlain Wealth Management we analyze and quantify these risks so as to not over or under insure. We also try to prepare clients for the emotional burden of not planning for a risk by providing real life experiences.