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How Financial Advisors Can Help Clients With Cybersecurity


What do Yahoo, Under Armour and MySpace have in common? Here’s a hint, the same thing as Marriott and Equifax—they’ve all been hacked on a massive scale in the hundreds of millions.

Whether it’s the wealthiest man in the world, the founder of Amazon—Jeff Bezos—or the Russians interfering with our elections, it seems that everywhere we turn we hear about another breach of cybersecurity.  

And your clients are paying attention. However, paying attention and making certain the right steps are being taken are often worlds apart. Herein lies one of those perfect opportunities to add value to your top clients. How so? Well, there’s a strong probability that most haven’t taken even some of the most basic steps regarding cybersecurity. This is also an excellent way to work with the next generation of your wealthy families.

This is real-time value add. Recently, a financial advisor I know held a lunch-n-learn on radio frequency identification (RFID) protection. Clients and prospects attended, it was extremely well received, everyone got an RFID credit card sleeve, and word-of-mouth influence began before the event was concluded.

Not only will you reinforce your value as personal financial advisor to your clients and their families, you’ll further protect yourself from the automated advice platform, or so-called robo, movement.

Matt Oechsli is author of How to Build a 21st Century Financial Practice: Attracting, Servicing, and Retaining Affluent

TAGS: Technology
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