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Part 3: Advisors have concerns about compliance risk in multiple areas

Cybersecurity and data integrity are leading worries when it comes to advisors’ compliance risk.

Advisors have a great deal of concern about a number of regulatory risks. Nearly one in four (22%) indicate they are “extremely” concerned with the regulatory risk from cybersecurity. While other risks don’t rise to the same degree, risks around data integrity, social media, fraud and anti-money laundering occupy a large portion of advisors’ mindshares.


Areas of least concern include wrap-fee programs, about which half of advisors have no concern at all. Robo advisors (2%) and recidivist brokers/representatives (3%) commanded the smallest share of advisors’ compliance efforts in the past year, reflecting a general lack of concern around those areas.