NNP IN THE NEWS: The Need for Personal Insurance

wealth managementIn the January 12 issue of the Upstate Business Journal, Nachman Norwood & Parrott’s Vice President Wes Boyce discusses a trend amongst high-net-worth individuals to underestimate their need for personal insurance. This is the third and final article in a three-part series that explains the importance of having an experienced and diverse group of professionals involved in your wealth planning.

Boyce describes the recent trend, also observed by Greenville insurance broker Howard Einstein, that high-net-worth individuals are neglecting to revise or adjust their insurance plan, even as their wealth grows. A lack of planning in this area is not typically an issue in the present, according to Boyce, but can lead to frustration and confusion later in life, not to mention potential financial loss.

Read the full article on the Upstate Business Journal’s website. If you’d like to schedule an appointment with a financial advisor, call us at (864) 467-9800.