Here are just a few cyber security tips for wealth management firms.

Carry out a risk assessment

Your first step to protecting your company and client data involves carrying out a risk assessment. Take this opportunity to assess the type of data you store within your company and the risks (internal and external) that could arise.

Once you understand where your company’s strengths and weaknesses lie, you can begin to take action. With a strong risk assessment at your side you’ll find it so much easier to outline your new cyber security plans and ensure everything is protected.

Ensure passwords are long and strong

Strong passwords are one of the most reliable barriers to cyber threats and unauthorised access. By ensuring your employees use strong passwords for each of their accounts and encouraging your customers to do the same, you can instantly add an element of protection and drastically reduce the likelihood of a breach.

We advise using a different password for each tool and device, using a variety of letters, numbers and special characters, and storing your passwords safely using a well-trusted password manager.

To learn more, take a look at our guide to creating passwords that are tough to crack.

> Creating a strong password

Educate employees

There’s no need for your employees to be cyber security experts, but it’s crucial that they have an understanding of the importance of cyber security and the role they play in keeping your business protected. From teaching them about common email phishing scams to emphasising the risks associated with public Wi-Fi, there are plenty of things you can do to educate your team and keep them involved.

Don’t be afraid to ask for help

Although there are a number of steps you can take to protect your company from cyber attacks, you don’t have to know everything. Cyber security can be complicated and there are some preventative measures that require specialist knowledge that’s built up over years of research and experimentation. Don’t be afraid to ask for professional help if you’re concerned your knowledge of cyber security measures is lacking.

Another reason to ask for help is if you’re time poor. With so many other aspects of your business to focus on, it can be hard to find time for IT matters.

This is where we come in. We’ll take the IT and cyber security workload off your hands, meaning you can focus on what you do best. We’ll keep everything ticking away in the background, taking care of everything from risk assessments to cyber security strategies on your behalf. To learn more about how we can help you, please get in touch with our team.