Q83 - How Much E&O Coverage Does My RIA Need?

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/About Host: Brad Wales is the founder of Transition To RIA, 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.