In 2022, the average price tag for a data breach in the financial sector was $6 million. While every business sector needs to be cyber-aware, registered investment advisors (RIAs) and others involved in the financial industry must be especially security conscious. Hackers know that RIAs may have...

Cyberattacks and data breaches are the new normal for registered investment advisors. These investment advisor cyber breach claims will show you what not to do. Like all businesses, registered investment advisors (RIAs) are vulnerable to cybercrime. However, they face more significant risk than...

As registered investment advisors (RIAs) have digitized their firms, the risk of data breaches has grown significantly. Loss exposures have intensified, and so has the danger of attracting regulatory scrutiny should your firm fail to safeguard customer data. Even though cybersecurity has become a...

If you're starting an RIA firm or evaluating its current compliance program, focus on these nine major requirements. The governing statute for registered investment advisers (RIAs)— the Investment Advisers Act of 1940— has existed for more than eight decades, amended twice, and is...

E&O claims don't just happen to other RIAs. If you're not careful, they can happen to you. "How do I sue thee?" Registered Investment Advisor (RIA) clients might ask. "Let me count the ways." We may have mangled poet Elizabeth Barrett Browning's immortal line, but the truth is that...

The world is going gaga over Bitcoin investing. That doesn’t mean you should. Caution is in order. Cryptocurrencies are the investment equivalent of Instagram meal photos. Not only do they let investors brag about their cool portfolios to their friends, but they also can make them rich....

Starting a Registered Investment Advisor (RIA) firm is complicated. But don’t lose sight of the importance of protecting your new venture with Errors and Omissions (E&O) insurance. Becoming a Registered Investment Advisor (RIA) has become an increasingly popular career choice over the...

If you’re a “breakaway broker,” don’t assume your prior E&O insurance will cover you at your new RIA firm. Here’s what you need to know. Over the last two decades, increasing numbers of securities brokers have migrated to the independent registered investment...