There’s No Place For Complacency – Cybersecurity Risks Continue To Grow
Wealthtech Experts Discuss The Current State Of Advisor Preparedness, Risks, Advancements, Regulatory Influences And The Next Few Years Of Cybersecurity Evolution
Wealth Solutions Report 8/13/24 (Written by Larry Roth, Co-Founder of Ascentix)
For several years, the call for advisors to prepare for rising and rapidly evolving cybersecurity threats has gone throughout the industry. In March 2023, the Technology Tools for Today (T3) conference highlighted cybersecurity as a key issue for wealthtech. Unfortunately, progress in security still lags behind the evolution of threats.
Wealthtech demos for other areas of a tech stack may feel more exciting, and there is always some reluctance to allocate budget to functions that are viewed as cost centers, but cybersecurity risks and sophistication of cybercriminals only strengthen over time.