Cyber attacks pose a significant risk to financial businesses, costing companies millions and damaging reputations. The tactics used by hackers are always evolving, so it’s important to keep up with the currently recommended best practices. However, many firms fall behind [...]
Good communication in the advisory business is essential for client success as well as the health of your business. When communication between the advisor and the client breaks down, misunderstandings can multiply. Such misunderstandings can strain relationships, decrease client satisfaction [...]
The topic of external theft is familiar for many advisors. Assets you oversee are attractive to criminals and so is the personally identifiable information of your clients, investors and plan participants. Stories abound of fraudsters and internet hackers stealing funds [...]
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 [...]
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 [...]
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 [...]
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, [...]
“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 [...]
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 [...]
Under ERISA, retirement plan fiduciaries can be held liable for cyber crime impacting participant data and assets, even when the fault lies with a service provider. New guidance suggests how advisors like you can protect yourself. New Guidance for Fiduciaries [...]
LOCKTON AFFINITY, LLC.
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