Developed in a partnership with Entreda, a risk mitigation and compliance software provider, ProEquities will install software on every computer and mobile device ProEquities’ representatives use to access client data.
The software will ensure ProEquities’ data security standards are met, such as requiring that the latest anti-virus protections, firewalls and system updates are in place. It also requires the computer or mobile device to use data encryption, a passcode, a secure internet connection and screen locks.
Though financial services firms are aware they are increasingly targeted by hackers, many firms rely on a patchwork cybersecurity system that cobbles together several different vendors, according to Steve Youhn, ProEquities vice president and chief compliance officer.
By going with a single vendor that handles everything, even non-tech-savvy advisers can be confident they are protected.
“Our guys are wealth advisers. They shouldn’t have