Episode 2

Published on:

21st Dec 2020

Advance Your Wealth - Five Mistakes Affluent Families Make

Typically, years of hard work and dedication to a job allows individuals to cultivate wealth for their family. Once they have it, the number one concern shifts to keeping it and establishing a lasting legacy for generations to come. 

In the second installment of Advance Your Wealth, Homer and Ryan investigate strategies to protect and secure wealth. With over 18 years of industry experience, Homer is accustomed to having these conversations with clients and can identify the five major mistakes made by affluent families today. 

Sit back, relax, and allow Homer to share what these mistakes are and which steps you should take now to avoid making them yourself!


00:51 - Overview on the episode

01:50 - Why it's so important to thoroughly analyze your homeowners insurance 

03:25 - The five big mistakes affluent families make

05:32 - An example of conversations Homer has surrounding liability insurance

06:43 - What are some signs of simple or adequate coverage, not complete coverage?

08:03 - What are some insurance pitfalls to avoid for those owning multiple homes?

09:30 - How failing to list a trust or LLC on a homeowner's policy could lead to issues

10:33 - Where do intricate home constructions or amenities fall in the coverage conversation

12:44 - Mistakes families are making when it comes to insuring their collections and valuables

15:02 - The next steps you should be taking to protect yourself and your wealth

17:50 - Homer and his team at Konvergent Wealth Partners can help you take the next step

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About the Podcast

Advance Your Wealth With Homer Smith
Financial advice to generate the results you expect and desire
Advance Your Wealth With Homer Smith provides you and your business with the financial advice needed to make calculated decisions moving forward. With over 18 years of industry experience, Homer Smith, Private Wealth Advisor with Konvergent Wealth Partners, understands the importance of a commitment to customer service and strives to help clients pursue their financial goals towards aspirations and retirement.

Each episode we'll take a deep dive into a different complex topic surrounding personal and business wealth management. So sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.

Investment advice offered through Integrated Financial Partners, doing business as konvergent wealth partners, a registered investment advisor.