Your firm’s cybersecurity deserves more than a trusting handshake and a blind eye.
Trust is the foundation of any worthwhile relationship, and wealth management is no exception. So it may feel odd to implement stringent controls over user-access permissions to your firm’s operating system. Instead, view this as a valuable method of protecting people you care about. It could save your firm from costly cyber breaches, embarrassing reputational scandals and onerous regulatory pressure in the future.
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.
Commuting is awful, right? Whether it’s time wasted behind the wheel of a car, or while being jostled on packed trains and busses, it all has to be endured twice a day and the only variation is the amount of additional minutes consumed by traffic jams or disrupted transit networks. What’s not to hate?
Technological innovations have always held out the promise of making it faster, easier, more efficient to achieve something that matters to us. From the discovery of the wheel to the invention of the Internet, we share a collective experience of new creations and contraptions that have defined our progress. Not only have these ideas saved us time and expense, they have also advanced new possibilities that have transformed our lives and massively expanded our economies.
Imagine then, if you will, taking a contrary approach and using technology for the purpose of slowing things down and reverting to former practices. It sounds like a strange objective, and yet, as we move into a hyper-connected and increasingly automated era, the benefits of taking our time over certain kinds of tasks are becoming ever more apparent. For instance, social media and the plethora of communications apps that have made human contact so instant and ubiquitous have caused us to question the value of so many instant, mediated interactions. Increasingly, we rate the significance and worth of an experience according its richness rather than its speed or convenience.