Russia-Ukraine Conflict: More Cybersecurity Risks for Wealth Managers?

From Wealth Solutions Report:

Clayton Chandler, Chief Information Security Officer of Advisor Group, says his firm has seen an uptick in concerns expressed by financial advisors and clients about cybersecurity due to the conflict.

“We have always encouraged both our affiliated financial professionals and their clients to reach out to us with any cybersecurity-related questions or concerns,” Chandler notes. “Lately, we’ve seen an increase in the number of folks taking us up on that offer.”

According to Chandler, Advisor Group prepares for cybersecurity threats – especially those from Russian actors – through a multi-pronged strategy that includes optimizing defenses, promoting user awareness and engaging in readiness preparations.

The firm optimizes defenses “to identify, block and detect any potential cyber threats stemming from a Russian nexus,” says Chandler, “by tuning our technical controls through cyber threat intelligence sharing with industry and government peers, and … by going on the offensive and proactively attempting to hack our own systems.”