Advisers attending the 2024 FAAA Congress in Australia last week were told their email systems are the most vulnerable technology component to external threats when it comes to protecting their clients’ data.
Hub24 Executive, Group Strategy, Greg Hansen, said cyber-security reporting released by the Australian Signals Directorate identifies email systems as the major point of vulnerability for criminal elements seeking client and data records.
“It’s always the same,” said Hansen: “The major point of vulnerability. Email.”
The solution, according to Hansen, lies in advice practices using client portals.
Hansen also noted another benefit in using this technology – especially when it comes to life insurance advice – is the ability for the adviser to collaborate with other professionals in a virtual and secure ‘room’.
He says advisers can control which other service providers may access that ‘room’, who may include financial planners, legal representatives, estate planning lawyers, general insurance advisers, mortgage brokers, conveyancers etc.
“If you can interact via a portal, it means you’re getting rid of all your [client] emails, so that you’re not sending personal information back and forth,” he said.