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How RIAs Can Avoid A High RON (Return On Negligence) By Investing In A Few Cybersecurity Basics

Mike Langford
Mar 9, 2022

 


Cybersecurity is something most clients take for granted when it comes to their finances. They expect that their banking and brokerage accounts are secure. They assume that regulators and the financial institutions themselves are doing everything they can to keep their money safe. 

But is that a safe assumption when it comes to cybersecurity at the average RIA or independent financial advisory firm? Well, according to David Kakish, CEO of RIA WorkSpace clients might be surprised by how vulnerable their information is on their advisor's systems.

HubSpot Video

 
In this episode of The Modern Financial Advisor Podcast, David explains that it is common for financial advisors to question the ROI of investing in cybersecurity solutions. That's the wrong question, however.  What they should be asking is "what is the RON, return on negligence?" Because a failure to properly secure your clients' information can be fatal to your business.

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Resources Related to this Episode:
Below is a list of resources mentioned in this episode or related to the topics we discussed: 

If you have any questions, comments, or even ideas for new episodes, feel free to reach out. If you like what you hear, make sure to subscribe to one of our channels listed above.
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