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Regulation and Compliance > Cybersecurity

Advisor Group Launches Cybersecurity Program

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Cybersecurity has been cited as advisors’ largest concern in many industry surveys, and answering that call with beefed-up security is Advisor Group, which announced a new effort to thwart bad actors from causing havoc to advisor data and systems.

The CyberGuard Program is a toolkit of services and platforms that offers a flexible structure of advisor solutions. Program features include:

  • Comprehensive cybersecurity insurance, including privacy/data breach insurance protection and coverage for breach response costs, regulatory liability and business disruption;
  • Discounted access to a cloud-based data backup solutions that gives advisors encrypted access to files from laptops, smartphones and other devices;
  • Access to a security auditing and monitoring platform that continually monitors advisors’ systems to identify potential security gaps;
  • Enhanced email and file storage capabilities with strong authentication and security monitoring features.

This program will continually evolve, Advisor Group says, noting that the company will be adding a feature shortly that scours the dark web for stolen advisor login credentials, protection against email phishing and assessing third-party providers’ potential cyber risk.

The new program also provides a group of dedicated cybersecurity experts to help advisors utilize the program offerings and troubleshoot any problems.

Jason Lish, who just joined the Advisor Group as chief security, privacy and data officer for advisor solutions, noted in a release that “With the CyberGuard Program, we are freeing our affiliated advisors from the need to source and build comprehensive cybersecurity systems on their own from scratch. This stronger level of protection in turn empowers them to run their businesses without fear of ever-escalating threats from cyber criminals across the financial advice space, while staying compliant with data protection regulations.”

Advisor Group is a network of independent financial advisors that serves more than 7,000 advisors and oversees $268 billion is client assets.

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