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Advisor Insights

Top Solutions for Securely Exchanging Client Files

These tools make exchanging sensitive client files more secure and less cumbersome.

Like most professionals in the business of analysis and advice, financial advisors work with a great deal of data and files to provide services to their clients. From account statements, estate planning documents, tax returns, and countless other data points, the number of files associated with a single client household can easily reach the hundreds (or even thousands). In the past, most of these files would have been stored in physical folders and filing cabinets, taking up office space and limiting productivity. Then came shared drives with digital folders, allowing team members to access electronic client files from their computers, followed by today’s cloud storage solutions that have enabled us to more efficiently organize and access client data.

Yet even with these improvements in the way we store and use client files, securely exchanging sensitive data with clients or service providers can occasionally still be a challenge. Attaching files to email is often the most straightforward method but isn’t advised for security reasons. Clients could use a secure portal, but how do you handle prospective clients or service providers without portal access? While there isn’t a one size fits all solution, there are several options available to make exchanging sensitive client files more secure and less cumbersome.