Families of significant wealth often own a diverse mix of assets, including multiple residences, less liquid alternative or private equity investments, and valuable collectibles, all of which requires more sophisticated planning. They also have somewhat different emotions about their wealth that can include, among others, fear that wealth can have a corrosive effect on future generations. Because no single advisor, no matter how talented, can serve their diverse needs, working with ultra-wealthy families requires a team approach and a well-integrated wealth management plan.
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Strong cybersecurity for protecting sensitive client data is a critical capability for any Registered Investment Advisor firm. In 2013, Hardy Reed—one of the first firms to earn the Center for Fiduciary Excellence certification—considered cloud services as an option for its IT needs. They wanted to look at alternate options to replacing their in-house server. Two factors were particularly important: heightened security concerns for protecting client information and the need to enable advisors and staff to serve clients while on the road.
Cybercriminals targets the financial industry 300 times more frequently than any other industry, resulting in mega breaches and millions of records stolen through hacktivism, malware, social engineering, phishing, and other applications. The harsh consequences of remaining vulnerable to cybersecurity breaches are costly, and the number one threat to cybersecurity is the uninformed employee. As cybercrime becomes commonplace, it’s essential to learn about the current cybersecurity landscape, the tools a financial firm needs, and best practices for keeping your firm protected.
Ask a wealth management colleague to define “the cloud” and you are likely to get a vague response. Even among information technology experts, the term “cloud” may refer to different technologies that are only connected in a general sense. And despite the fact that cloud computing has quickly become the IT norm, the question remains: Is the cloud secure enough to support a wealth management firm’s critical company information and workflow? The truth is, not all clouds are equal, in infrastructure and in management.
The employer’s safety protocols are an essential tool to help reduce the community spread of COVID-19 in the workplace, prevent and defend against lawsuits, and demonstrate compliance with OSHA safety requirements. To help develop your organization’s written policies and protocols, use this self-inventory toolkit with best practices and tips as your guide.
As an employer, what do you do if you suspect that one of your employees has COVID-19? When is it safe and compliant for your employee to return to work after COVID-19; after a case that is suspected or confirmed? To support you in answering these questions, use this flowchart to help you enable a safe working environment, be in compliance, and reduce risk and liability for your business.
President Biden has clarified he is committed only to a partial rollback of the Tax Cuts and Jobs Act of 2017, aiming to make permanent the tax cuts that went to lower- and middle-class Americans, while raising taxes on corporations and those earning more than $400,000 per year. A review of Biden’s platform shows there are five proposals that would have the biggest impact on tech companies’ tax burdens, including the corporate tax rate hike and offshoring penalty (with a "Made in America" credit).
With the right tools and commitment, most businesses can make remote work just as productive, if not more productive, than in-person office work. Ultimately, remote work requires leaders to retune their managerial style to fit the situation. There are three powerful strategies that leaders can apply to help keep their remote employees engaged, and it begins with setting clear expectations and boundaries.
Today, private equity real estate funds need innovative accounting technology to develop real-time insights and make financial decisions quickly. Having access to a team with dedicated Enterprise Resource Planning (ERP) technology specialists means fund leaders have the resources to implement and maintain systems and ultimately streamline accounting processes.
By understanding the vulnerabilities of human error, more can be done to address them and build greater cyber resilience. It begins with replacing the term ‘human error’ with ‘human factor’ to move towards establishing a better first line of defense against cyber incidents.