10 ways advisers can improve their cybersecurity
Mr. Sundberg recommends as a best practice the use of multifactor authentication — questions, for example, in addition to user IDs and passwords — to protect advisory firms' networks.
“If I was an adviser, I would tell a client with Yahoo!, Gmail or Hotmail to implement multifactor authentication,” he said. “It's like when your bank doesn't recognize the computer you're using and you need that second factor. There have been so many hacks that user IDs and passwords can easily be broken.”