Browse these articles discussing the importance of proper risk management strategies for HNW individuals and solutions for reducing exposure to these unique risk exposures.
The Rising Tide of Cyber Crime
The FBI Internet Crime Complaint Center recently released its 2024 report, revealing a record $16.6 billion in cybercrime-related losses, primarily driven by fraud. Ransomware incidents have risen by 9% year-over-year compounded. It’s important to note that this data only reflects reported incidents; many victims choose not to report due to embarrassment or concerns about their reputation…
By Craig Cartmill, Director of GS Private Client
Third-Party Injuries: Contractor Liabilities Imposed upon HNW
Unbeknownst to many, insurance is, actually, not the starting point for managing HNW exposures. Contractual Risk-Transfer, one component of a strategically smart HNW Risk Control Plan, is where effective protection begins. Establishing a proper written agreement (even if brief and simple) is the foundation upon which we control risk and govern third-party relationships.
By Ken Golsan, Co-Founder & CEO
Vicarious Liability, Nuclear Verdicts & the Impact to HNW Families
The Wall Street Journal recently published an article highlighting the rising trend of social “class warfare” driving “nuclear” verdicts — defined as exceptionally large jury awards exceeding $10,000,000 – against not just America’s corporate community but high-net-worth individuals and families…
By Ken Golsan, Co-Founder & CEO and Craig Cartmill, Dir. of GS Private Client
Navigating Board Service Risk
It is common for high-net-worth clients to offer their skills, leadership, and expertise to boards of nonprofits, professional organizations, or homeowners associations. In many cases, clients assume director roles without properly assessing and planning to mitigate exposure to their personal assets…
By Craig Cartmill, Director of GS Private Client
As Natural Disasters Strike, Advisors Put Focus On Tax Relief
Financial Advisor author Jeff Stimpson interviewed Craig Cartmill about the difficult underwriting environment for HNW individuals and how proper risk identification will help reduce financial exposure when disasters strike.
“Nuclear Verdicts” Aren’t Just A Corporate Problem – They’re A Wealth Management One
Kenneth Golsan and Craig Cartmill wrote an article for FamilyWealthReport about the spread of so-called “nuclear verdicts” in court cases, those involving jury awards over $10 million, and how they spell trouble for HNW and UHNW individuals and families, not just corporations. This article explains approaches to getting in front of the problem.
Managing Personal Risk
Today’s leading advisory firms do far more than manage investments—they coordinate a client’s entire financial life, from tax and estate strategy to family legacy. True wealth management protects and transfers wealth across generations, making risk and insurance a foundational element of an integrated strategy.
Yet risk management is often the least resourced area in wealth planning. Complex exposures like personal liability, property, and cyber threats require specialized expertise most advisors lack internally. Partnering with a dedicated risk specialist allows firms to elevate their value proposition, close hidden planning gaps, and fully safeguard client wealth.
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