The SEC’s Office of Compliance Inspections and Examinations (OCIE) recently released its national examination priorities for 2017.
While reviewing the regulator’s examination initiatives to protect investors—and the overall integrity of the U.S. capital markets—as the investment landscape continues to become more complex, we uncovered several SEC priorities that underscore the benefits of a turnkey approach to IT and cybersecurity.
Big banks are not the only ones taking a stronger interest in the cloud.
Cloud-based platforms are on the rise among both large banks and the financial departments of North American companies. Higher regulatory hurdles and staffing costs are a big factor, according to recent news reports. But so is a growing sense of comfort with the technology on the part of business leaders.
Successful bosses at RIAs and broker-dealers have been known to track technology trends unfolding at national and global corporations. In addition to gaining insights about innovative operational processes, wealth management leaders can strategize about how to adapt the most suitable of them for their firm’s needs.
This case study is the latest in a series on the real-world benefits of the cloud.
At External IT, we believe wealth management firms know their business better than anyone. What motivates one firm to adopt cloud technology is not necessarily the same thing that motivates another firm.
Yet, any firm considering such a transition deserves to see what their peers have gotten out of cloud computing. By capturing the real-world experiences of advisors, support staff and customers, case studies can help firms decide if the cloud is right for them.
Outdated tools are a hindrance to these niche firms and their elite demographic.
Many family offices are hesitant to embrace cutting-edge technology. As a result, they may foster complacency with outdated tools at a time when other wealth management clients are benefiting from advances in efficiency, security and data recovery. Indeed, many family offices are harboring significant technology-related risks.
Clients will appreciate that better tech makes them safer, and you more efficient.
All told, wirehouse brokers managed more than $6.3 trillion in client assets at the end of 2015. In the independent channel, there are more than 120 RIAs that each manage at least $1 billion in assets and nearly 300 RIAs each managing between $250 million and $1 billion in assets.
Old-school RIAs can appreciate the value of increased safety and better client service.
What young, untested advisor would dare second guess his or her boss? Or worse, try to change how the firm operates? Quite the foolhardy career move, you might think. Think again.
Now that all those holiday parties have settled down, the wealth management industry is starting the New Year with a sobering proposition. The Department of Labor’s proposed conflict of interest rule, also known as its fiduciary rule, may soon become reality.
Cloud computing is providing RIAs and Broker-Dealers with a cost-effective, low-hassle means of enhancing the capabilities of their IT infrastructure at the same time as resolving business-critical issues, such as regulatory compliance, security and remote access.
The business world is usually quick to adopt new technologies that enable it to be more innovative, efficient, and profitable. All manner of industries are reaping precisely these rewards following their investment in the latest in information technology: cloud computing. IT infrastructure and services delivered over the Internet – the basis of cloud computing – are helping businesses to accelerate growth by facilitating more flexible and productive ways to work at the same time as reducing the expense and distraction of managing technology.
Is your office also home to your server? An on-site IT infrastructure is standard practice for most small- to medium-sized RIAs, broker-dealers, asset managers and family offices but many firms don’t fully appreciate the business, security and compliance risks associated with technology.
Managing risk is a normal part of being in business, but there are steps that can be taken to mitigate events that could impact your ability to serve clients or compromise their private and financial data. The first step is awareness, and in this blog post we examine the threats to your on-site IT and what you can do to prevent or minimize any impact.