RPost has launched an educational campaign to ensure that registered investment advisors (RIA’s) can securely communicate with clients and comply with rules enforced by auditors and regulatory organizations.
Tech Essentials for Investment Managers is a weekly e-brief series that includes news articles, webinars and videos discussing the key cybersecurity and compliance issues, news, and solutions RIAs should be aware of.
As part of this campaign, RIAs will also learn how RPost’s RMail service enables RIAs to address many of their security, compliance, and productivity-related challenges. For those who do not find Tech Essentials for Investment Managers valuable, we provide a simple way to opt-out at the bottom of every email.
“RIAs need to stay informed and use the right tools to ensure their emails are secure and in compliance with regulations from the SEC and FINRA, among others” said Zafar Khan, CEO of RPost. “When an auditor comes calling, they need to be prepared.”
RIAs and their clients are especially at risk of becoming a victim of business email compromise (BEC) attacks because they can be managing substantial assets, making them ideal targets.
RMail’s new Anti-Whaling™ security feature adds imposter protection for email and prevents email conversation hijacking, putting a stop to one of the most sophisticated and financially-damaging cyber-crimes targeting businesses today.
Regulatory compliance is also a big issue. RIAs can be subject to SEC and FINRA regulations along with new Department of Labor regulations, among others.
“There are so many pitfalls [to handling email] that it’s hard to even imagine,” said Greg Melia, CEO of Melia Advisory Group, which manages over $65 million in assets and uses RMail services. “Number one, there’s the client liability issue that could lead to litigation. Second, there’s regulatory issues, which nobody wants. Then there’s the reputation of your firm being damaged because you didn’t protect the privacy of your clients. So to me those are all big-ticket items as to why you really need to be very careful out there. Our firm handles tax documents, estate documents and other financial documents, so it really exposes us to those three issues. So anything we can do to eliminate that is very helpful in what we want to do.”