Industry Articles

Browse our selection of industry articles from Golsan Scruggs.

PRESS RELEASES

The following are corporate news releases from Golsan Scruggs.

• Registered Investment Advisors See Wire Fraud, AI Errors as Emerging Threats to their Business, According to Golsan Scruggs 2025 Risk Survey (Global Newswire)
• Registered Investment Advisors Contended with Increased Insurance Claim Payouts in 2023, Following 2022’s Broad Market Slump, according to Golsan Scruggs Data (Insurance Newsnet)
• Registered Investment Advisors Contended with Increased Insurance Claim Payouts in 2023, Following 2022’s Broad Market Slump, according to Golsan Scruggs Data – Includes PDF Download (NewsDirect)
• Golsan Scruggs Announces Chubb Alliance

VIDEO INTERVIEWS

IN THE NEWS

The following articles involved interviews and articles written by partners and employees of Golsan Scruggs.

• IGNORANCE IS NOT BLISS – Craig Cartmill was interviewed in an Insurance Business Magazine video roundtable segment about personal cyber insurance coverage.
• HOW HUGE LITIGATION VERDICTS IMPACT WEALTH MANAGEMENT – Article written by Ken Golsan and Craig Cartmill and published on Financial Advisor website.
• WALL STREET HEDGE FUNDS HIT BY COORDINATED AI VISHING: FINRA FUSION CENTER ACTIVATED – Brian Francetich quoted in TECH Times article by Mark Rutherford.
• “NUCLEAR VERDICTS” AREN’T JUST A CORPORATE PROBLEM – THEY’RE A WEALTH MANAGEMENT ONE –  Article written by Ken Golsan and Craig Cartmill and published on FamilyWealthReport website.
• AI-POWERED CYBERATTACKS ARE FORCING RIAs TO RETHINK CLIENT SECURITY – Brian Francetich quoted in InvestmentNews article by Gregg Greenberg.
• RIAs OFFER ADVICE FOR FENDING OFF CYBER ATTACKS AND SECURITY BREACHES – The results of Golsan Scruggs’ 2025 Bi-Annual Risk Survey are referenced in an article in InvestmentNews.
• WEEKEND READING FOR FINANCIAL PLANNERS (October 25–26) – Golsan Scruggs’ 2025 Bi-Annual Risk Survey is included in the Industry News section of Kitces’ weekend reading blog.
• WHAT DO INDEPENDENT RIAS RANK AS THEIR TOP RISKS IN 2025? Article in InvestmentNews about the results of Golsan Scruggs’ 2025 Bi-Annual Risk Survey.
• WITH AI ON THE RISE, CYBER BREACHES AND WIRE FRAUD AMONG TOP RIA CONCERNS: REPORT. Article in CityWire RIA about the results of Golsan Scruggs’ 2025 Bi-Annual Risk Survey.
• TRADETALKS NEWSLETTER – GUEST SPOTLIGHT, BRIAN FRANCETICH – Brian Francetich participated in Q&A with Nasdaq TradeTalks on current concerns within the RIA industry.
• HOW TO THINK ABOUT YOUR RIA FIRMS RISK WHEN SECURING INSURANCE – Article written by Ken Golsan and Brian Francetich and published on Financial Advisor website.
• AS WIRE FRAUD CLAIMS RISE, ADVISORS MAY FIND THEY AREN’T PROPERLY INSURED – Article written by Brian Francetich and published on Think Advisor website.
• DIGITAL ASSETS AND INVESTMENT MANAGEMENT LIABILITY INSURANCE – Article written by Cameron Norris and published on VettaFi Advisor Perspectives website.
• STUDY: INSURERS LOWERING PREMIUMS FOR RIAS ON CRYPTO INVESTMENT COVERAGE – Article in WealthManagement.com by Elaine Misonzhnik about Golsan Scruggs’ premium data and Brian Francetich quoted.
• AS NATURAL DISASTERS STRIKE, ADVISORS PUT FOCUS ON TAX RELIEF – Craig Cartmill quoted in Financial Advisor article by Jeff Stimpson.
• FRAUDULENT-‘WIRE’ CLAIMS BEDEVIL RIAs AND THEIR E&O INSURERS IN 2023 – and investors also asked for RIAs to compensate them for reliance on bonds as ‘safe’ asset. Brian Francetich quoted in RIABiz article by Lisa Shidler.
• RIA INSURANCE CLAIMS UP LAST YEAR FOLLOWING PAST MARKET SLUMP. Article about Golsan Scruggs’ 2023 claims data and Brian Francetich quoted in Businessfortnight article.
• Top read in Michael Kitces’ Weekend Reading For Financial Planners (March 9-10) 2024 (kites.com) is Christopher C. Williams’ article E&O INSURER SAW 213% RISE IN RIA POLICY PAYOUTS LAST YEAR.
• RIA INSURANCE PAYOUTS SURGED FOLLOWING MARKET SLUMP. Brian Francetich quoted and Golsan Scruggs claim report referenced in Financial Planning article by Dan Shaw.
• E&O INSURER SAW 213% RISE IN RIA POLICY PAYOUTS LAST YEAR. Ken Golsan quoted in Financial Advisor article by Christopher C. Williams.
• WHERE WALL STREET GOES, TROUBLE IS SURE TO FOLLOW. Ken Golsan quoted and Golsan Scruggs claim data referenced in InvestmentNews article by Bruce Kelly.
• WITH GREAT GROWTH COMES GREAT CONFLICTS FOR RIAs – Where Wall Street goes, trouble is sure to follow. Ken Golsan quoted in InvestmentNews article by Bruce Kelly
• RIAs FACED A 213% SPIKE IN PAID ERRORS AND OMISSIONS CLAIMS IN 2023 – A report from insurance broker Golsan Scruggs shows large increases in claims involving both the suitability standard and wire fraud in 2023. WealthManagement.com article by Elaine Misonzhnik.
• WHAT IS E&O INSURANCE, AND DO I NEED IT? 3 THINGS EVERY ADVISOR SHOULD KNOW – Wealth Solutions Report article written by Brian Francetich.
• SECURING PROPER INVESTMENT MANAGEMENT LIABILITY INSURANCE: THE WHO & THE WHAT – IIA’s Online Newsletter article written by Ken Golsan and Brian Francetich.
• THE INS AND OUTS OF RIA INSURANCE – Barron’s interview with Brian Francetich.
• WHY BUY INVESTMENT ADVISOR E&O? WE’VE NEVER BEEN SUED. – NAAIM The Active Manager by Ken Golsan.
• PROTECTING YOUR PRACTICE – Key considerations when purchasing E&O insurance – Plan Adviser magazine interview with Ken Golsan and Brian Francetich.
• INSURING THE RISK – Why every adviser needs insurance for fiduciary breaches – Plan Adviser magazine interview with Ken Golsan and Brian Francetich.
• HEDGE FUND INVESTMENT ADVISER INSURANCE – Hedge Fund Law Blog interview with Brian Francetich.
• BATTLE LINES – Advisers increasingly are embracing ERISA plan fiduciary status – Plan Advisor magazine interview with Ken Golsan.
• PROTECTING YOUR PRACTICE – Key considerations when purchasing E&O insurance – Plan Advisor magazine interview with Ken Golsan.

INDUSTRY ARTICLES

The following risk management newsletters were published by Markel Cambridge Alliance for the investment advisor community:

• 2011 Vol. 1 – Topics include: Insurance Concepts, Investment Selection, Avoid a Common Claim, Tom’s Take and Loss Environment.
• 2011 Vol. 2 – Topics include: Social Media, Regulatory Update, Insurance Concepts, Avoid a Common Claim, and Loss Environment.
• 2012 Vol. 3 – Topics include: Examination of leveraged ETFs, Best practice – avoid wire fraud, Social media update, and Registration switch.
• 2012 Vol. 4 – Topics include: Dodd-Frank impact to advisor registration, Best practice – New client due diligence, How economic sanctions can impact you, Social media update, New fee disclosure requirements for retirement plans.
• 2013 Vol. 5 – Topic focus: Best practices to avoid wire fraud
• 2013 Vol. 6 – Topic focus: Safeguarding client information and avoiding wire fraud

The following articles were written by Bud Bigelow, Markel Cambridge Alliance, for publication in various trade publications within the financial community.

• Insuring Your Financial Planning Practice
• Loss Prevention and the Greening of the Financial Planning Profession
• Perils of Group Sponsored Broker Dealer E&O Insurance Programs
• Standards and the CFP Practitioner’s Exposure to Liability
• Surviving in the Liability Jungle
• Are There Differences Among Policies?
• Selecting A Limits of Liability
• What Should RIAs Ask About Professional Liability Insurance?
• SEC Letter: BD’s deemed not to be Investment Advisors

WHITE PAPERS

The following documents are written and provided by Golsan Scruggs.

• Ken’s Securities Law Notes – Notes regarding federal and state securities laws compiled by Ken Golsan, principal of Golsan Scruggs.
• RIA Risk Survey – The purpose is to determine what areas of risk are collectively perceived as concerning, significant and central to a U.S. based Registered Investment Advisory operation.
• RIA Risk & Insurance Guide – Complimentary white paper highlighting risks associated with rendering investment advice.
• Private Fund Risk & Insurance Guide – Complimentary white paper highlighting risks that Fund Managers encounter in their practices.
• Three Little Known Truths (Surrounding Asset Management E&O) – Things you should know before buying RIA E&O.