Asset protection specialists work with individuals and businesses to prevent loss and facilitate claims. They may have experience in insurance, security consulting, and financial planning. They help clients select insurance policies, create asset inventories, and recommend security systems. They also offer financial planning and assistance. Different professionals may offer asset protection services, and training programs are available.
An asset protection specialist works with individuals and businesses to prevent loss and facilitate claims in the event of a loss. People in this field may have experience in insurance, security consulting, and financial planning, depending on the nature of the services they provide. In some regions, a license is required to work as an asset protection specialist if the job involves services such as personal security and insurance sales. People in a variety of settings may have a need for such consultants.
One aspect of the job involves helping clients select insurance policies that suit their needs and creating documentation to accompany the policy. This may include a detailed asset inventory. In the case of a claim for theft, fire or other losses, inventory can make the claims process much faster. Customers submit this information to the insurance company, which can quickly review it and pay the claim. The process of creating an inventory can include identifying items that may require special insurance coverage, such as jewelry.
Security can be a concern for an asset protection specialist to limit the risk of a loss. This can include recommending and installing security systems, as well as personal security. In environments such as retail stores, asset protection specialists can consult the store layout to reduce theft and also patrol during business hours to identify suspicious customers. Preemptively reducing losses can limit time spent on claims, court appearances, and other matters.
Some asset protection specialists also offer financial planning and assistance. People with personal wealth may want to take steps to grow and protect their funds to have cash available for retirement and other endeavors. The asset protection specialist can recommend the best financial products and can work with their clients on estate planning to pass on wealth to the next generation, charitable causes and other beneficiaries of a will or trust. These advisors can also offer advice on limiting tax liability and protecting assets in bankruptcy and other events.
The highly varied nature of this work creates a need for people with many different skill sets. Accountants, attorneys, and insurance agents, among others, may offer asset protection services. Training programs are available for people interested in careers in this field. An asset protection specialist with a degree or certificate may be able to join a professional organization for networking and promotion opportunities.
Protect your devices with Threat Protection by NordVPN
