The Perfect RIA The Importance of Risk Management in Financial Planning With Justin Smith
Oct 23, 2025
In this engaging discussion, Justin Smith, a life insurance and risk-management specialist, collaborates with Matthew Jarvis to emphasize the vital role of open conversations about risk management in financial planning. They delve into strategies for initiating discussions around sensitive topics like disability and estate planning, encouraging advisors to use simple visual aids for client communication. Justin also highlights the importance of annual policy reviews and pre-underwriting to secure the best options in complex scenarios, ensuring clients' needs are continuously met.
AI Snips
Chapters
Transcript
Episode notes
Normalize Risk Conversations
- Bring risk topics up repeatedly until the conversation becomes natural with clients.
- Explain why the conversation matters and link life insurance to the client's specific situation.
Use A 20-Year Frame To Open Dialogue
- Use a future-looking frame: ask clients to imagine meeting 20 years from now to justify planning now.
- Start broad and peel the onion rather than diving into product details immediately.
Risk Review Extends Beyond Investments
- Advisors must review all risk categories, not just investments, because clients carry many legacy products.
- Some risks can be self-insured while others create catastrophic gaps that require solutions.