The services of cybersecurity firms that can protect a dispersed workforce and bring competitive edge are being sought out by US advisory firms.
In a deal struck to shore up data security as advisors remain working remotely, wealth firm Silver Oak Securities has chosen Arizona-based B-Corp cleverDome to manage cybersecurity across its advisory and partner businesses.
Based in Phoenix, cleverDome’s network offers end-to-end protection across all devices in any location, and can replace traditional VPN solutions, enabling RIAs to reap lower costs and higher speeds, the firm said. The deal will serve Silver Oak Securities' 130 offices across the US and reflects a prolonged shift to nomadic working.
“Recent events have drastically disrupted the market, catapulting advisors into a more remote and work-from-home model of interacting with clients,” said cleverDome chief executive Michael Hallett. “For firms that approach this shift as a way to adopt further innovation rather than just a means to an end, it has opened doors to new opportunities and new vulnerabilities,” he said.
Set up as a member cooperative that includes security service providers, software developers, broker/dealers, RIAs and financial advisors, cleverDome says it is on a mission to create a community-based model that reflects the future of secure trusted networks.