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Risk Management

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Risk Management

 

As you develop and implement your financial plan, it’s important to protect your finances from the negative impacts of unfortunate events. Risks, such as stock market volatility, increasing costs of goods and services, damage to personal property and many more, can wreak havoc on your personal finances. A critical element of financial planning is risk management.

 

CRITICAL FINANCIAL EVENTS

Critical Financial Events are anything and everything that pertains to and affects your finances and indeed your life, either now, or in the future. It could be retiring, legacy planning, education planning, charitable giving, etc.

Sometimes Critical Financial Events are predictable or even planned, but in equal measure these events are often unexpected or unaccounted for. In both scenarios though, these events have the capacity to have a profound impact on your life. They can be the reason you make a financial plan in the first place, and simultaneously make the best laid plans obsolete without warning.

Your life will be full of your own unique pattern of Critical Financial Events. You will be much happier throughout your life and have greater peace of mind if you have planned for the different possible events that can occur. We follow a process of planning for potential Critical Financial Events which may affect you and your family. Our purpose is to cushion the effects of the Critical Financial Events in your life so you stay on track and reach your financial goals and objectives.

 

RISK MANAGEMENT PROCESS

You want a reasonable rate of return at an acceptable level of risk.  In the world of finance, risk management refers to the practice of identifying potential risks in advance, analyzing them and taking precautionary steps to reduce/curb the risk. A properly defined and documented process will give the greatest chance of a successful outcome.  The primary goal of personal risk management is to protect your goals, dreams, treasures and your personal well-being from life’s “what if’s.” 

 

There are typically four key steps
in the risk management process for individuals:

 

Risk management processes may include risk avoidance, risk reduction, risk retention, and risk transfer.  You want to consider the frequency and severity of loss associated with risk.

We believe in considering and preparing for the unexpected.  You need to think ahead and consider different scenarios. Then we will work toward contingency plans to address them. By explaining risk and helping our clients avoid retirement pitfalls, we strive to constantly add strength to our relationship.  We understand that while risk cannot be eliminated, it can and should be mitigated.

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We would love the opportunity to become your trusted advisor.

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Phone: 913-661-9492
Fax: 913-754-1919

Email: info@pfgkc.com

Building 9 in Corporate Woods, 9200 Indian Creek Parkway, Suite 180, Overland Park, Kansas 66210

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Rodger Parker is a registered non-solicitor of, and Madison Parker investment advisor representative of, and advisory services are offered through USA Financial Securities Corp. A Registered Investment Advisor located at 6020 E Fulton St., Ada, MI 49301. Parker Financial Group is not affiliated with USA Financial Securities. 

Madison Parker is authorized to transact investment advisor services only in states where she is properly registered. For investment advisory services these states include: Madison - AZ;CT;KS;MO;NM;OR;TX;WI.. Additionally, clients who are not residents of these states cannot be serviced.

This website is not intended to provide investment, legal, or tax advice, no to effect securities transactions or to render personal advice for compensation.

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