Schwab Advisor Services Delivers Suite of Cybersecurity Resources & Tools to Help Independent Advisors Safeguard Their Firms ...
September 20 2016 - 11:30AM
Business Wire
Schwab Advisor Services today announced availability of a robust
suite of resources and tools to help independent financial advisors
develop, strengthen and maintain their cybersecurity defense. The
program includes information to help advisors stay up-to-date on
cyber-attack trends, regulatory developments and best practices for
educating employees and clients on keeping data secure. As part of
its offer, Schwab also developed action-oriented tools to guide
advisors through the cybersecurity planning process, available
through a new online Cybersecurity Resource Center.
Schwab’s cybersecurity initiative comes at a time when
preventing cyber-attacks is top of mind for the industry, with
almost 90 percent of independent advisors pointing to
cybersecurity, privacy and identity theft as their top compliance
concern for 2016, according to a recent study1.
“Advisors are aware of ongoing threats in a rapidly-evolving
competitive and technological environment,” said Nick Georgis,
senior vice president, Schwab Advisor Services. “As part of our
commitment to empower independent advisors’ success, we are
constantly evaluating the landscape and delivering resources and
counsel to help them remain a step ahead.”
Schwab’s Cybersecurity Resource Center features educational
materials to guide advisors through the process and offers the
opportunity for one-on-one consulting for firms with more complex
needs. The content aligns with the National Institution of
Standards and Technology (NIST) framework, which the Securities and
Exchange Commission (SEC) and Financial Industry Regulatory
Authority (FINRA) have encouraged advisors to adopt. The
information in the Resource Center helps advisors:
- Understand the regulatory and fraud
environment
- Assess their work and develop an action
plan to strengthen programs
- Educate employees on roles and
responsibilities for protecting firm and client information
- Educate clients on best practices for
protecting information and how to maintain their programs
“Cybersecurity is an incredibly important issue for all
advisors, and we view this as a critical component of our practice
management and consulting support,” said Georgis. “By
institutionalizing important practices like vendor due diligence
and employee education on data security, firms are in a better
position to meet the challenges of cybersecurity today and in the
future.”
The resources are available on a complimentary basis to firms
that custody assets with Schwab.
About Charles Schwab
At Charles Schwab we believe in the power of investing to help
individuals create a better tomorrow. We have a history of
challenging the status quo in our industry, innovating in ways that
benefit investors and the advisors and employers who serve them,
and championing our clients’ goals with passion and integrity.
More information is available at www.aboutschwab.com. Follow us
on Twitter, Facebook, YouTube, and LinkedIn.
Disclosures
Through its operating subsidiaries, The Charles Schwab
Corporation (NYSE: SCHW) provides a full range of securities
brokerage, banking, money management and financial advisory
services to individual investors and independent investment
advisors. Its broker-dealer subsidiary, Charles Schwab & Co.,
Inc. (member SIPC, www.sipc.org), and affiliates offer a complete
range of investment services and products including an extensive
selection of mutual funds; financial planning and investment
advice; retirement plan and equity compensation plan services;
compliance and trade monitoring solutions; referrals to independent
fee-based investment advisors; and custodial, operational and
trading support for independent, fee-based investment advisors
through Schwab Advisor Services. Its banking subsidiary, Charles
Schwab Bank (member FDIC and an Equal Housing Lender), provides
banking and lending services and products. More information is
available at www.schwab.com and www.aboutschwab.com.
Brokerage Products: Not FDIC Insured • No Bank Guarantee •
May Lose Value
Schwab Advisor Services™ serves independent investment advisors
and includes the custody, trading, and support of Schwab.
Independent investment advisors and Schwab are independent of
each other and are not affiliated with, sponsored by, endorsed by,
or supervised by each other. For informational purposes only.
(0816-2996)
1 2016 Investment Management Compliance Testing Survey,
Investment Adviser Association and ACA Compliance Group
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version on businesswire.com: http://www.businesswire.com/news/home/20160920005698/en/
Schwab Corporate Public RelationsRob Farmer,
415-667-0083Rob.Farmer@schwab.comorThe Neibart GroupEmily Serafin,
718-875-2122sas@neibartgroup.com
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