Hartford Financial Services Group, Hartford Conn., has created a team of life insurance planning, underwriting and service professionals to meet the needs of “ultra high net worth” clients.

Called Private Wealth Management, the initiative includes a group of private wealth management consultants who act as a resource to financial services professionals via some 200 Hartford Financial account executives nationwide. The new unit services clients possessing $25 million or more in liquid assets.

“Advisors are looking to take a more holistic approach to servicing clients in this market niche,” says Patricia Hausherr, director of special markets for The Hartford’s individual life division. “Our Private Wealth Management platform provides the expertise and services needed to build these relationships.”

The private wealth management consultants–now numbering 6, the group will grow to 10 in 2007–have expertise in life insurance planning strategies. The group is supported by attorneys experienced in business, estate and wealth transfer planning. Also aiding the consultants are large case underwriters and a business team that identifies clients to be incorporated into the program. Hausherr adds the PWM unit is also “working closely” with trust companies and CPAs at accounting firms.

Among other services, qualifying advisors receive regular updates on the performance of their clients’ life insurance policies and communications respecting the underwriting process.

“From an underwriting perspective, we’ll take the extra steps needed,” says Hausherr. “For example, we had a young woman whose medical procedure wasn’t covered by insurance. Our underwriter contacted the physician to gain an understanding of the outcome. That altered how we underwrote her.”

Hausherr adds that between 20 and 25 advisors listed in Barron’s Top 100 list of financial service professionals are participating in the program, as are about 25 of The Hartford 200 account execs.