Cloud computing for financial advisers: How to stay safe

Financial advisers recognize the benefits of moving to the cloud, but security remains a top concern

While speaking on a panel at the Technology Tools for Today (T3) Conference in Dallas earlier this year, I predicted that within five years, the majority of independent investment advisers would no longer have a server located in their office.

Clearly the trend of embracing cloud computing and services delivered over the Internet is gaining momentum, but financial advisers continue to be concerned about the security of data stored in the cloud.

In my latest column for the Journal of Financial Planning, I reviewed the practices advisers should follow when evaluating the security policies of any cloud provider.

Included is a sidebar titled 10 Key Elements of Cloud Security that lists the top essential questions advisers must ask when conducting due diligence. Use it as a guide as you try to determine whether a provider’s policies and procedures meet your expectations.

Read How to Stay Safe When Using the Cloud from the Journal of Financial Planning


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