RIA in a Box, a leading provider of compliance, operations and registration software and services solutions for the wealth management industry, unveiled a new cybersecurity platform to complement its industry-leading MyRIACompliance solution. This product expansion will empower registered investment advisory (RIA) firms to design, implement and document a robust cybersecurity program all within a single interface. The platform is designed for RIA firms of all sizes who face unique people, technology, and third-party vendor cybersecurity risks and regulatory requirements.
Given the nature of the sensitive information that RIA firms handle on a daily basis, RIA in a Box has broadened its platform to tackle the human side of cybersecurity, which is often seen as the greatest risk for RIA firms. The new proprietary cybersecurity platform provides security awareness training, email phishing attack simulation, technology inventory and risk assessment, as well as the ability to build a customized information security policy. The system also includes the Vendor Due Diligence tool that was announced at the T3 conference earlier this year.
“Since RIAs handle sensitive information regularly, they will remain high risk targets for cybersecurity attacks,” said GJ King, President at RIA in a Box. “Helping firms strengthen their cybersecurity policies and awareness of vulnerabilities will not only help advisors sleep better at night, but provide their clients added confidence that their personal information is secure. We’ve been working hard on developing our cybersecurity capabilities to provide advisors with a modern way to identify and mitigate information security susceptibilities at their firms within a single platform and are proud to unveil these tools to the advisory community to help make employees the first line of defense.”
The new cybersecurity platform can be purchased as a standalone subscription or bundled as part of the firm’s MyRIACompliance compliance subscription. MyRIACompliance is an online platform that is tailorable to each firm’s unique regulatory requirements with the ability to automate day-to-day compliance tasks and allow supervisory responsibilities to happen in a single place. A MyRIACompliance subscription also includes access to RIA in a Box’s experienced team of former regulators and assistance with Form ADV amendments, annual registration renewals, and individual registrations.
As a provider of award-winning technology, RIA in a Box offers innovative software that simplifies collaborations between RIAs and their partners by enabling them to “document-while-doing” regular business activities. The company’s goal is to relieve the stress and headaches that come from compliance and security in the financial services industry. MyRIACompliance works towards achieving this by consolidating security information into a singular reporting system and establishing an automated digital feed to over 15,000 financial institutions.