Practice Wise: Advisors - Client Data Privacy is Your Business
Telling your clients how you protect their data is not only important, it can help build trust and enhance your client relationships—and there's a good chance it will differentiate your firm from others who aren't raising this issue.
Sheryl Rowling’s new Practice Wise column is available first in Morningstar Office Cloud.
In the old days, keeping clients' data secure was pretty easy. It just required a lock and key. Now, with external service providers, remote access, and web-based products, keeping clients' personally identifiable information private is more complicated.