Overview of the Program from Fox Point Programs
Fox Point Programs offers a dedicated Registered Investment Advisors (RIA) insurance program designed for independent agents and brokers placing professional liability and allied coverages for advisory firms. As a Managing General Agency, Fox Point works with various carriers to assemble admitted and non-admitted solutions across most available states. The program focuses on practical, packaged options—typically including professional liability (E&O) and commonly requested add-ons such as cyber liability, crime/fidelity, and regulatory defense—so you can deliver a full risk-transfer solution to your RIA clients.
Ideal Accounts and Appetite
- Independent RIAs and fee-based advisory firms (solo advisors through multi-advisor shops)
- Wealth managers, hybrid advisors, family-office style practices and sub-advisory arrangements
- Firms with standard advisory activities: financial planning, portfolio management, investment recommendations, and model management
- Clients with stable compliance histories and established procedures for custody, billing, and cybersecurity
Generally not a fit: firms with unresolved regulatory disciplinary actions, multiple recent or large professional liability claims, crypto-native trading platforms, proprietary hedge funds, or activity outside typical RIA services (private placement platforms, issuer-side capital raising) without prior approval.
Coverage Highlights and Advantages
- Professional liability (Errors & Omissions) tailored to advisor exposures
- Cyber/privacy liability offerings to address data breach and technology risk
- Crime/fidelity solutions for employee theft, forgery, and client funds exposure
- Regulatory defense and fines coverage options where available
- Package flexibility through access to multiple markets—helpful for unusual risk profiles or layered placements
Because Fox Point places with various carriers, you can often combine admitted and non-admitted options to meet client needs and regulatory constraints across states.
Underwriting Notes and Minimum Premiums
Underwriting is focused on the firm’s advisory activities, compliance program, custody arrangements, fee billing, and information security controls. Typical submission requirements include a current advisory Form ADV (Parts 1 and 2), a completed application, recent loss runs (if any), and an overview of cybersecurity controls and business continuity plans.
Minimum premiums vary by carrier and coverage selection. Fox Point can quote admitted or non-admitted placements depending on the state and the client’s profile. Discuss minimum premium expectations with Fox Point at submission—pricing is influenced by claims history, operations, and requested limits.
Territories and Availability
The program is available in most states (AK, AL, AR, AZ, CA, CO, CT, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY, DC). Availability and admitted status vary by state and carrier—Fox Point can advise on admitted options where required.
Why Work With Fox Point Programs on RIA Business
- Specialized MGA with focused underwriting for the RIA niche and relationships with multiple carriers
- Ability to access both admitted and non-admitted markets to find placement solutions for diverse client profiles
- Responsive quoting and underwriting support to help you close accounts efficiently
- Packaging expertise that helps combine E&O, cyber, and crime coverages so clients receive a cohesive program
Example Client Scenarios
- You have a solo financial planner transitioning to independent RIA status who needs E&O plus cyber coverage to satisfy a custodian requirement. Fox Point can help bundle policies and approach markets that write smaller advisory firms.
- You represent a small multi-advisor RIA worried about employee theft and regulatory inquiry exposure. Consider a package with crime/fidelity and regulatory defense options to manage those concerns.
Frequently Asked Questions
What types of RIA accounts are the best fit for this program?
The best fits are independent RIAs and wealth management firms offering financial planning and discretionary/non-discretionary portfolio management, with stable compliance histories and standard custody arrangements. Solo advisors through mid-sized multi-advisor firms are typical targets.
Which coverages can I combine through Fox Point Programs?
Fox Point commonly packages professional liability (E&O) with cyber liability, crime/fidelity, and regulatory defense options. Available combinations depend on carrier appetite and the client’s profile.
What information should I include in a submission?
Include the firm’s current Form ADV (Parts 1 and 2), a completed application, recent loss runs, a summary of cybersecurity controls, and sample advisory agreements or custody arrangements. These items accelerate underwriting and improve quote accuracy.
Is this program available nationwide?
The program is available in most states (including DC). Availability and whether coverage is admitted or non-admitted depend on the carrier and state—Fox Point will advise on the best market for each jurisdiction.
Need help placing an account? Connect with a market specialist.