Knowledge and Insight > Manage Your Practice

Cybersecurity: A Focus for Regulators and Advisors in 2016

Michael Sundberg | Think Advisor, May 2016

Summary: Today’s independent financial advisors wear many hats, from portfolio manager to behavioral coach to chief financial officer of their own businesses. But there’s another responsibility that has become increasingly critical in recent years—that of identity protector. With major security breaches and other smaller-scale hacks on the rise, advisors need to understand where they may be vulnerable and what steps they should take to close any open doors to their clients’ sensitive information. It’s a big job, and it’s hard to know where to begin.

Whether your organization is large or small, someone has to assume the security hat. After all, the cyber thieves and hackers are committed—and they have the time, resources, and patience to achieve their goals. What we hope you take away from this discussion is that if you educate yourself on what the risks are and what strategies can be used to mitigate them, you will be taking an important step in safeguarding your business and your clients’ sensitive information.”