RIA Intel reporter Michael Thrasher wrote an article about wealth managers using IncomeConductor stand to pay less for insurance policies. The article highlights a unique partnership between IncomeConductor and the Varney Agency to offer preferred rates on E&O and Cyber liability insurance.
Some insurance carriers plan to offer wealth managers policies with preferred rates if they use a specific retirement income planning software, the first price break of its kind, according to one insurance broker.
RIAs and other wealth management firms that use IncomeConductor, a retirement income planning software by the fintech company WealthConductor, could save as much as 20% on the premiums they pay for errors and omissions (E&O) insurance and cyber liability insurance. The policies protect wealth managers from inadequate or negligent work, data breaches, and the legal costs associated with them.