Cybercrime Terminology to Know As an advisor, not knowing or understanding the cybercrime risks your business faces puts you at a disadvantage against cyber criminals who know exactly what they're doing. But wrapping your head around the lingo used to talk about the topic can be tricky. Cybercrime terminology is complex and it's constantly changing [...]
Read More4 Ways to Minimize the Risk of SECURE 2.0 Changes After a long and windy road, the SECURE 2.0 Act has become law. The new legislation, which updates the original Setting Every Community Up for Retirement Enhancement Act of 2019, contains a number of changes impacting recordkeepers. SECURE 2.0 changes represent an opportunity for your [...]
Read MoreReport: Finance Is One of the Most Targeted Industries by Cyber Criminals Financial services businesses have been a target for criminals since the days of the Pony Express. Now, modern businesses face a serious threat from cyber criminals seeking to steal funds from bank accounts, real estate closings, court settlements and retirement funds. A new [...]
Read MoreOne Law Firm Filed 11 Copycat Lawsuits Against Advisors of 401(k) Plans Last Year Financial advisors have been plagued by 401(k) lawsuits in recent years. So frequent are new suits in the headlines, that it may seem like every law firm in the country has a case pending against an advisor. Yet in reality, many [...]
Read MoreFighting Cyber Fraud: 10 Questions Lawmakers Are Asking About Retirement System Cybersecurity Enough high-profile cyber incidents involving retirement plans have occurred that lawmakers have begun asking questions. The Comptroller General of the U.S. Government Accountability Office has been asked by members of Congress to examine the issue and answer 10 crucial questions to help guide [...]
Read MoreFinancial Execs May Be Overconfident About Cyber Security, Survey Shows Cyber security is crucial for today’s financial services professionals — at this point, almost everyone understands that. Yet some firms may still be underprepared for serious cyber attacks and the damage they can cause. A new survey of financial executives found that many overestimate the [...]
Read MoreFighting Cyber Fraud: Two Case Studies of Claims Against Recordkeepers “Did you hear? Another recordkeeper was sued for cyber fraud!” Recordkeepers have heard this line a lot lately. But around the watercooler, such stories often blur together. The details get lost, and that can make it harder for registered investment advisors to understand the risk [...]
Read MoreNew Exclusive Health Plan Options for Financial Professionals from Lockton Affinity Advisor Announced With open enrollment around the corner, many financial professionals are reviewing next year’s health insurance options. Unfortunately, those choices are often unappealing. When you’re a self-employed business owner, independent contractor or advisor at a very small firm, your options for health insurance [...]
Read MoreFinance, Cyber Attacks and Geopolitics: The Risk to Businesses Like Yours Businesses in the finance industry are facing new online risk as cyber attacks and geopolitics merge into a single threat. Cyber attacks have already been at an elevated level for several years. However, the latest geopolitical threat comes in addition to those existing risks [...]
Read MoreLockton Affinity Advisor Meets Fidelity's New Insurance Requirements Large financial firms are taking action to address the increasing risk in the registered investment advisor (RIA) industry. Following closely on the heels of Schwab, the latest is Fidelity Investments, whose Fidelity Institutional business unit serves financial intermediaries and institutions with investment technologies and solutions. In March, [...]
Read More