01.11.23
Personalization Push Heightens Need for Advisors To Vet Cybersecurity
by: Alex Ortolani
As advisors seek more participant personalization from retirement recordkeepers, they also need to boost their focus on cybersecurity from providers, say industry participants. Dennis Lamm, head of customer protection for Fidelity Investments, says it's important to take a close look at how providers authenticate and validate transactions, both in the digital and live voice channels. “Fraudsters will often move to the weakest channel,” Lamm said. “Having strong two factor authentication at login may not be that helpful if your phone reps are not using voice biometrics or stronger forms of authentication. Finally, confirm whether your assets are guaranteed in the event fraud takes place."
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