Protecting Financial Services
Financial Advisors: Trust is everything
In today’s finance landscape, client relationships are built on trust...trust that their wealth is being safeguarded and that their sensitive personal and financial data is secure. As financial advisors continually adopt digital platforms for communication, portfolio management, and data storage, cybersecurity has become not just an IT issue...but a mission critical obligation.
£18.3m
is the average cost of a data breach in the financial services sector
Why are you High Value Targets...?
A Vault of
Sensitive Data
Financial advisors manage a wealth of sensitive data. Tax records, account credentials, and detailed investment information.
This type of personally identifiable information (PII) and financial data is incredibly valuable on the dark web, often fetching a higher price than credit card details alone.
Because of this, cybercriminals see advisory firms as digital vaults, attractive targets with potentially weaker defenses than large financial institutions. Even a small breach can result in significant financial loss and reputational damage.
Lack of Dedicated Cyber Expertise
Many financial advisory practices operate as small or midsize businesses, often without the benefit of a dedicated IT or cybersecurity team.
This limited internal capacity makes it harder to keep up with evolving cyber threats, leaving gaps in defenses such as outdated software, unencrypted communications, or insufficient staff training.
Cybercriminals are well aware of these vulnerabilities and frequently target smaller firms with phishing scams, malware, and ransomware, assuming they are less prepared to detect and respond to attacks.
The result can be disproportionately severe, both financially and reputationally, for firms that lack the resources to quickly recover.
Remote and Hybrid Work Environment
The shift to remote and hybrid work models has introduced new cybersecurity challenges for financial advisors.
Accessing sensitive client data from home networks, personal devices, or public Wi-Fi can expose firms to significant vulnerabilities if proper safeguards aren’t in place.
Without secure VPNs, device encryption, or strong endpoint protection, cybercriminals can exploit weak points in an advisor’s digital environment.
Additionally, remote collaboration tools and cloud-based platforms, while convenient, can be improperly configured, leaving client data exposed.
As the line between home, office and customer visits blur, firms must ensure that security protocols extend beyond the office walls to protect every access point. Always.
Get in touch
Whether you’re an independent advisor or part of a larger group, now is the time to prioritise cybersecurity. Partner with us to train your team and implement systems that protect your practice.
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