Added on October 2014 in Form an RIA
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Summary: In the wake of recent high profile data breaches, cybersecurity is front and center for clients, advisors and regulators with an increased focus on adequate protections for client data. In addition to concerns about the data breaches at large companies like JPMorgan Chase, Target and Home Depot, advisory firms are also facing pressure from Washington. In April the the SEC issued a risk alert warning advisors that it will be assessing their cybersecurity preparedness.
Added on October 2014 in Form an RIA
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Summary: Cybersecurity is a constant threat, and considering how attractive a target a financial firm is, especially if they serve high-net-worth clients, advisors should be prepared for the worst. Kimberly Foss, founder of Empyrion Wealth Management based in Roseville, California, noted the importance of having the right people to help you following a data breach.
Added on October 2014 in Form an RIA
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Summary: A testament to the changing social world: Last year when a room full of financial advisors was asked how many of them were using LinkedIn, only three to four hands were raised. When Jared Trexler, brand manager at Ed Slott and Co. LLC., asked the same question during a session at FSI’s Financial Advisor Summit, nearly every hand in the room was.
Added on September 2014 in Form an RIA
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Summary:Responding to the preliminary results of the recently released survey by the North American Securities Administrators Association, which found that the majority of small and midsize state-registered advisors have tech or cybersecurity policies in place and that only 4.1% of the participants were aware that they had suffered a cybersecurity incident.
Added on September 2014 in Form an RIA
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Summary: The Institute for the Fiduciary Standard, which is organizing a series of events this month to raise awareness about the issue, has released a report outlining a code of conduct for advisors working with retail clients, and is working to promote the cause with a new partnership with NAPFA.
