Protecting client information is more than just a computer issue

Taking every precaution to guard against today's threats means focusing on both physical and electronic security.
OCT 20, 2014
With Internet scams, phishing, identity theft and just plain burglary, we investment advisers have an enormous responsibility to keep our clients' personal information safe. Try as I might, it seems that every few months, I hear of some new security measure we should implement. With increasing threats and complexity, we can't afford not to take every precaution — including those that seem obvious. In my firm, we focus on both physical and electronic security. From a physical standpoint, we pay attention to the details: • Our building is locked outside of office hours. • Our office is locked outside of office hours. • We have a monitored alarm system that is set when the last person leaves the office. • A buzzer goes off whenever the door is opened. • Employees lock away any client files prior to leaving the office. Electronic security is handled in various ways: • Employees log off their computers prior to leaving the office. • Computers log off automatically after a certain period of non-use. • Each computer and software is accessed with employee-specific passwords. • Passwords must be complex and are required to be changed periodically. • A secure portal is used any time private information is sent or received electronically. • All software with access to clients' personal information is reviewed for security and approved prior to use. • Smart phones with access to work email must be password protected. I could go on. There are other security measures we take, like having the ability to wipe phones and computers, firewalls, virus protection and more. My IT guy reviews this with me on a regular basis. I pay attention. It's important. Sheryl Rowling is chief executive of Total Rebalance Expert and principal at Rowling & Associates. She considers herself a non-techie user of technology.

Latest News

Hightower Signature Wealth grows by $2.5 billion with Stearns deal
Hightower Signature Wealth grows by $2.5 billion with Stearns deal

Stearns Financial Group's addition brings 30 advisors and three decades of North Carolina planning experience to the platform.

Edward Jones backs senior protection rules after $3 million account freeze
Edward Jones backs senior protection rules after $3 million account freeze

An 86-year-old from Dallas tried to withdraw funds from his account, but Edward Jones invoked a FINRA-backed temporary lockout before he eventually left for Merrill Lynch.

iTP Partners launches $3.5 billion RIA on Cetera's Blueprint
iTP Partners launches $3.5 billion RIA on Cetera's Blueprint

The veteran-led advisory firm moved nearly 50 advisors from Osaic to Cetera this week, launching a new equity-ownership RIA with two key footprints in the East Coast.

Congress can help long-term mutual fund investors keep more of their money working
Congress can help long-term mutual fund investors keep more of their money working

If passed into law, the GROWTH Act would address a question of fairness for conscientious savers doing exactly what wealth management experts advise them to do.

Rising costs top retirees' worries, but most remain financially stable
Rising costs top retirees' worries, but most remain financially stable

A new Oath survey finds inflation is retirees' top concern in 2026, but most remain stable — the real gap is planning for life beyond the portfolio.

SPONSORED Direct indexing webinar targets tax-loss harvesting amid market swings

Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains

SPONSORED Who builds the income when the pension disappears?

Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income