18 min
Q83 - How Much E&O Coverage Does My RIA Need? Transition To RIA Podcast
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- Investing
Obtaining Errors & Omissions ("E&O") insurance for your Registered Investment Advisor ("RIA") is not only a best practice, it is usually now a requirement for most RIAs.E&O is professional liability insurance that protects your RIA from risks ranging from the proverbial "fat-fingered" trade entry error, to defending yourself against meritless lawsuits.Most custodians now require RIAs using their clearing services to maintain a minimum level of E&O coverage.In this episode I explain what those coverage levels typically are and the nuances between coverage types to be aware of.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/how-much-errors-and-omissions-coverage-does-my-ria-need/ (https://TransitionToRIA.com/how-much-errors-and-omissions-coverage-does-my-ria-need/)About Host: Brad Wales is the founder of Transition To RIA (https://transitiontoria.com/), where he helps financial advisors understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
Obtaining Errors & Omissions ("E&O") insurance for your Registered Investment Advisor ("RIA") is not only a best practice, it is usually now a requirement for most RIAs.E&O is professional liability insurance that protects your RIA from risks ranging from the proverbial "fat-fingered" trade entry error, to defending yourself against meritless lawsuits.Most custodians now require RIAs using their clearing services to maintain a minimum level of E&O coverage.In this episode I explain what those coverage levels typically are and the nuances between coverage types to be aware of.Come take a listen!P.S. Prefer video? You can find this entire series in video format on Youtube. Search for the TRANSITION TO RIA channel.Show notes: https://TransitionToRIA.com/how-much-errors-and-omissions-coverage-does-my-ria-need/ (https://TransitionToRIA.com/how-much-errors-and-omissions-coverage-does-my-ria-need/)About Host: Brad Wales is the founder of Transition To RIA (https://transitiontoria.com/), where he helps financial advisors understand everything there is to know about WHY and HOW to transition their practice to the Registered Investment Advisor (RIA) model. Brad has 20+ years of industry experience, including direct RIA related roles in Compliance, Finance and Business Development. He has an MBA and has held the 4, 7, 24, 63 & 65 licenses. The Transition To RIA website (TransitionToRIA.com) has a large catalog of free videos, articles, whitepapers, as well as other resources to help advisors understand the RIA model and how it would apply to their unique circumstances.
18 min