By ACE Group/ACE Private Risk Services
Many wealthy families intend to increase spending on their valuable collections over the next 12 months, according to a survey commissioned by ACE Private Risk Services. They base their plans in part on a greater appreciation of the investment diversification value of collections following the Great Recession of 2008-2009. But they often neglect to protect their collections through proper insurance and loss prevention. As collections play a larger role in their asset base, it becomes increasingly important for these families and their wealth advisors to understand the risks involved.
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