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  • How to scale your RIA firm without outgrowing your tech stack

    How to scale your RIA firm without outgrowing your tech stack

    Your registered investment advisory (RIA) or financial advisory firm is growing — a great “problem” to have, until your technology can’t keep pace. You’re bringing in new clients and hiring more advisors, but the patchwork of software that got you here is now creating bottlenecks. Files are scattered, communication is fragmented, and routine tasks are taking longer than they should.

    For many RIAs and financial advisors, the technology that once supported their business eventually begins to hold it back. Sustainable growth demands a tech stack built for scale, one that can handle increased complexity and risk without slowing you down.

    It’s time to move from a collection of tools to an integrated system. These steps will show you how to build a technology foundation that fuels your firm’s growth, instead of fighting it.

    Build a tech stack designed for growth

    A tech stack that can scale is not about adding more tools; it’s about having the right tools working together in an integrated system. The collection of standalone apps that worked for a two-person firm can hinder a dozen team members, leading to wasted hours, compliance blind spots, and a disjointed client experience.

    A forward-thinking design allows your firm to seamlessly manage a larger volume of clients and navigate increasing complexity, turning your technology from a necessary expense into a competitive advantage.

    Related reading: What should your RIA’s tech stack include?

    Centralize communication and file access to avoid silos

    When your team juggles multiple platforms for daily tasks, communication becomes disconnected. Files get lost in different systems, collaboration becomes a chore, and the risk of a critical detail slipping through the cracks increases. It’s an inefficient and insecure way to operate.

    Centralizing communication, collaboration, and file sharing in one secure platform is the solution. For example, RIA WorkSpace configures Microsoft 365 to act as your firm’s central hub. It unifies your core functions, which reduces the need for various third-party applications and creates a single source of truth for all client and firm-related information.

    Implement role-based access to protect sensitive data

    As your team expands, so does the risk of accidental or unauthorized access to confidential client information. Each new employee represents another potential point of data exposure, making security a paramount concern.

    Properly managed access controls ensure each employee has access only to the data and systems relevant to their specific role. Implementing role-based permissions protects sensitive information and eliminates the need for manual workarounds to control who sees what. It’s a critical step for enhancing security protocols and streamlining your operations.

    Automate manual processes to boost efficiency

    If onboarding a new client still means repeating 10 manual steps, you’re going to hit a ceiling. Repetitive administrative tasks consume valuable time that your advisors could be spending with clients. These manual processes don’t scale, and they actively limit your firm’s potential.

    You can leverage the automation tools within platforms such as Microsoft 365 and your customer relationship management (CRM) system to break free from these limitations. Automating routine activities such as client intake, compliance workflows, and reporting frees up your team to focus on higher-value work and allows your firm to operate at a much higher capacity.

    Strengthen audit trails and oversight as you grow

    Growth attracts more scrutiny — from regulators, cybercriminals, and even clients. Your firm needs to be prepared to demonstrate its security controls and prove compliance at a moment’s notice.

    A scalable tech stack should make oversight simple. It provides comprehensive audit trails and a centralized dashboard for monitoring your entire IT environment. Having this level of visibility makes it easy to demonstrate security controls, show a clear history of activity, and maintain compliance, which builds trust with both clients and regulators.

    Choose an IT partner that supports your growth

    Your firm shouldn’t have to switch platforms or rebuild its IT infrastructure every few years. Constant technological upheaval is disruptive, expensive, and a distraction from what matters most: serving your clients.

    Work with an IT partner that designs systems with the future in mind. RIA WorkSpace builds IT solutions that support growth from 5 to 25 employees and beyond. We create a foundation that allows you to stay focused on building client relationships, not on reconfiguring your technology.

    Are you starting a new RIA firm? Get insights on creating a solid technology foundation from day one. In this episode of RIA Tech Talk, we break down the essential components of a tech stack that’s perfect for a small, growing team.
    Listen to RIA Tech Talk Episode #17 now

    A truly scalable tech stack is the engine of sustainable growth. It’s built on centralized communication, strict access controls, smart automation, and robust oversight. By investing in a system designed for the future, you empower your firm to reach its full potential.


    Schedule a free consultation with RIA WorkSpace today, and discover how our tailored Microsoft 365 solutions can support your RIA or financial advisory firm’s growth.

  • Managing device security without micromanaging your team

    Managing device security without micromanaging your team

    Imagine one of your advisors immediately responding to an urgent client email from their personal smartphone while attending their child’s weekend game. This level of flexibility is a hallmark of modern client service, especially for smaller, agile registered investment advisory (RIA) firms. Yet, this convenience brings up a significant question: how do you protect sensitive client data when it’s accessed on personal devices?

    Striking a balance between robust security, regulatory compliance, and employee freedom can feel like a tightrope walk. Fortunately, your firm can achieve this balance with the right strategies, particularly by using mobile device management (MDM) solutions and crafting clear supportive policies. Let’s explore practical steps to help your RIA or financial advisory firm handle these considerations.

    The device security challenge for small RIAs

    As an RIA, your firm operates under unique pressures. You handle incredibly sensitive client financial details and personally identifiable information, making data protection paramount. Regulatory bodies like the SEC, with rules such as 206(4)-7 regarding compliance policies and procedures, expect you to implement robust security measures to safeguard such information. Above all, the trust your clients place in you demands the utmost diligence in protecting their data against breaches and theft.

    When personal devices are used for work without proper safeguards — a common scenario in a bring your own device (BYOD) environment — the risks multiply. A lost or stolen phone, or one compromised by malware, could expose client data, leading to significant financial penalties and, critically, a loss of that hard-won client trust.

    Faced with these risks, some firms might lean toward highly restrictive rules. However, this micromanagement approach often backfires, leading to employee frustration, decreased morale, and sometimes, the use of less secure workarounds to get tasks done efficiently. At the same time, manually overseeing every device simply isn’t practical or sustainable for even small firms.

    Related reading: Managing texting risks for RIAs and financial advisors

    How mobile device management helps

    So, how can your RIA or financial advisory firm secure data without making your team feel they are under surveillance? Mobile device management, or MDM, offers a compelling answer. MDM software is a specialized tool that lets you remotely manage, monitor, and secure any device — whether it’s a smartphone, tablet, or laptop — that accesses company information. It’s designed to protect the data, not to pry into personal lives.

    MDM solutions address the micromanagement concern directly and effectively through the following:

    • Separation of work and personal data – Many MDM systems can create a secure, encrypted “container” or work profile on an employee’s personal device. This setup means firm applications and data live in a protected space, completely separate from personal apps, photos, and messages. Your firm manages the work profile, while the personal side remains private.
    • Automated security enforcement – Instead of relying on individuals to remember to set strong passcodes or enable encryption, an MDM solution can enforce these essential security settings automatically across all enrolled devices. Such automation ensures a consistent security posture without manual checks.
    • Remote security for business data – If a device is lost or stolen, or an employee leaves the firm, MDM allows an administrator to remotely lock the device or, crucially, wipe only the business-related data and applications. Personal photos, contacts, and apps remain untouched, maintaining employee privacy.
    • Focus on data security – The primary aim of MDM is to safeguard your firm’s and your clients’ sensitive information. It’s about maintaining compliance and protecting data, not monitoring an employee’s browsing history or personal communications.
    Related reading: How to protect your RIA firm from insider threats

    Key MDM features for an RIA firm

    When looking into MDM options, you’ll want to identify solutions that offer the right mix of security and usability. Look for these important features:

    • Essential security controls – At a minimum, the MDM should enforce strong passcodes or biometric authentication (e.g., fingerprint or face ID), encrypt sensitive data on the device, and provide capabilities for remote lock and selective wipe of business data.
    • Application management – Effective MDM solutions allow you to manage applications within the secure work profile. This capability can include pushing necessary, secure business apps (e.g., encrypted email or CRM access) to devices and potentially restricting the installation or use of unauthorized or high-risk applications with access to work data.
    • Ease of use for small teams – For firms with 5 to 25 users and likely limited IT staff, a cloud-based MDM solution is often ideal. These are typically easier to deploy and manage, with intuitive interfaces for both administrators and your team members.
    • Scalability and cost effectiveness – Choose a solution that fits your current size and budget but can also scale as your firm grows. Many MDM providers offer plans specifically designed for small businesses.

    Crafting user-friendly BYOD policies

    An MDM solution is a powerful tool, but it’s most effective when supported by clear, user-friendly policies. Your BYOD or general device security policy should guide your team on how to use technology securely and responsibly.

    Consider including these elements in your policy:

    • Acceptable use – Clearly outline what firm data can be accessed on personal devices and for what purposes.
    • Security responsibilities – Define employee responsibilities, such as using strong, unique passcodes, keeping their device’s operating system up to date, and immediately reporting a lost or stolen device.
    • Transparency about MDM – Explain what data and settings the MDM solution manages and, just as importantly, what personal information it does not access or control. Transparency builds trust.
    • Enrollment and exit procedures – Detail the process for enrolling a device in the MDM system and what happens when an employee leaves the firm (e.g., removal of the work profile).

    Communicating the why behind your MDM implementation and device policies is crucial. When employees understand that these measures are in place to protect clients, the firm, and even themselves from the consequences of a data breach, they are far more likely to be supportive.

    Secure your firm and empower your team

    Protecting client data while fostering a flexible and trusting work environment doesn’t have to be an either/or choice for your RIA or financial advisory firm. By thoughtfully implementing an MDM solution and coupling it with clear, fair, and well-communicated device security policies, you can achieve both.

    Unsure about which MDM solution is right for your firm or how to craft an effective security policy? Our experts specialize in helping RIAs like yours implement practical IT security solutions. Contact us today for a consultation to discuss your firm’s specific device security needs and build a strategy that protects your data and supports your team.

  • Why legacy systems are a risk for RIAs and financial advisors

    Why legacy systems are a risk for RIAs and financial advisors

    Legacy systems might feel like an old, reliable friend, but for registered investment advisors (RIAs) and financial advisors, they can be a ticking time bomb. These outdated hardware and software systems, often lacking integration and modern updates, pose significant risks. From cyberattacks to compliance failures, the dangers of sticking with old IT systems far outweigh any perceived savings.

    Fortunately, there’s a way forward. Gradually transitioning to modern, secure platforms such as Microsoft 365 is a solution that minimizes disruption while achieving greater security, compliance, and efficiency.

    The dangers of sticking with legacy systems

    Outdated IT systems not only drag down efficiency but also expose your firm to cyberthreats and regulatory pitfalls. The following are the most pressing risks to RIAs and financial advisors:

    Cyberattacks are a clear and present danger

    One of the biggest vulnerabilities of older systems is their susceptibility to cyberattacks. These systems have outdated software that no longer receives critical security updates, making them prime targets for hackers.

    For RIA and financial advisory firms, the stakes are incredibly high. The sensitive nature of the data you manage — including client Social Security numbers, financial information, and account details — makes you a lucrative target. This data being compromised doesn’t just lead to immediate financial loss for clients, but it also damages your reputation, potentially driving clients away.

    Regulatory requirements are becoming more stringent

    Financial regulators such as the SEC and FINRA are putting increasing pressure on firms to meet high standards of data security, recordkeeping, and compliance. Unfortunately, legacy systems often fall short when it comes to these requirements, lacking the robust capabilities necessary for secure data storage and retrieval.

    Noncompliance carries hefty penalties. A firm unable to meet modern auditing or record retention standards risks fines, sanctions, or worse, the loss of its regulatory standing. For RIAs and financial advisors, this is a direct threat to business continuity and client trust.

    Inefficiencies hamper productivity and service

    Outdated IT systems rarely integrate smoothly with modern tools, creating inefficiencies that frustrate teams and clients alike. Slow-loading applications, manual data entry, and compatibility issues with newer software can hinder day-to-day operations.

    For example, an advisor struggling to retrieve client data due to an outdated database system might experience delays that impact client service. Over time, these inefficiencies drain valuable resources, reducing productivity and leaving your firm less competitive in an industry that thrives on precision and speed.

    Why Microsoft 365 is the answer

    One of the most strategic moves any RIA or financial advisory firm can make is transitioning to Microsoft 365. It’s an integrated, secure, and highly efficient platform designed to tackle the exact risks mentioned above.

    Robust security features

    Microsoft 365 offers enterprise-grade security designed for today’s cyberthreats. Features such as multifactor authentication, threat detection, and data encryption protect sensitive client information from unauthorized access. At the same time, security updates are regularly rolled out to shield against emerging threats.

    Built-in compliance and data governance tools

    Compliance is made simpler with Microsoft 365. Its retention policies and built-in eDiscovery capabilities allow firms to store and retrieve records in seconds, meeting regulatory demands with ease. Additionally, data loss prevention (DLP) tools help guard sensitive information, ensuring that financial records or client data don’t get shared with the wrong party.

    Audit logs within Microsoft 365 also create a clear trail, which is invaluable during regulatory audits. This level of transparency and accountability is essential for businesses operating in the financial sector, where compliance and data privacy are top priorities.

    Enhanced productivity and seamless integration

    One of the major advantages of Microsoft 365 is its seamless integration with other tools essential to RIAs and financial advisors. From customer relationship management platforms to financial planning tools, Microsoft 365 works harmoniously with the software you already use.

    Its cloud-based access also empowers advisors to work securely from anywhere. Imagine an advisor reviewing key reports on their iPad at a client meeting or collaboratively fine-tuning proposals with their team in real time through Microsoft Teams. Ultimately, this enhanced collaboration and mobility translate directly into better client outcomes.

    Why a phased upgrade works best

    Recognizing the risks of outdated IT systems and the benefits of modern platforms is only the first step. The question remains: How do you migrate to Microsoft 365 without disrupting daily operations?

    The key lies in a phased approach. Through strategic planning and execution, your firm benefits from:

    • Minimized disruption – Transitioning gradually allows you to maintain normal operations while upgrading specific systems.
    • Thorough testing and training – A phased migration provides time to test tools, iron out potential issues, and train staff to maximize adoption.
    • Flexibility – A step-by-step process allows you to adapt your approach as you go, tailoring the migration plan to your specific needs.

    Start with essential tools, then expand to other components as your team becomes familiar with the new system.

    Not sure which Microsoft subscription is the best fit for your RIA firm? Don’t miss RIA Tech Talk Episode #9! Tune in to discover the insights you need to make the right choice.

    Don’t wait for a crisis to act

    Sticking with legacy systems might feel easier in the short term, but the risks are far too great for RIAs and financial advisors to ignore.

    Microsoft 365 offers a balanced solution, combining advanced security and compliance with unmatched productivity tools. Coupled with a phased approach to modernization, your firm can reap immediate benefits while maintaining continuity.

    Don’t wait for inefficiencies or security gaps to force your hand. Proactively upgrade your IT infrastructure and set your firm up for long-term success. RIA WorkSpace specializes in helping RIAs and financial advisors optimize their technology. Contact us today to start building a more secure and efficient firm with Microsoft 365.

  • Are your contractors a security risk? How to protect your RIA firm

    Are your contractors a security risk? How to protect your RIA firm

    Your RIA or financial advisory firm thrives on agility. You bring in specialized talent — paraplanners, marketing whizzes, compliance consultants, even fractional IT support — often as independent contractors. This model offers fantastic flexibility and access to top-tier expertise. But as you build this modern, efficient practice, have you considered the security implications? While your W-2 employee security might be robust, your 1099 contractors could be an open door for cyberthreats if not managed carefully.

    Unmanaged contractors accessing sensitive client data and firm resources on their personal devices create a significant, often overlooked, security vulnerability. This isn’t just an IT issue; it’s a critical business and compliance concern for your firm. Let’s explore how to assess this risk and implement practical, effective solutions to secure your firm’s data and reputation.

    The problem: When “BYOD” becomes “bring your own danger”

    Why does this matter so much for your RIA?

    First, the nature of your business means contractors might handle extremely sensitive information: client Social Security numbers, financial account details, investment strategies, and confidential communications. A breach here can be financially and reputationally devastating.

    Second, regulatory bodies like the SEC and FINRA expect you to protect this data, regardless of who is accessing it, whether employee or contractor. Consider these common scenarios when contractors use personal devices:

    • Unsecured devices – Is a contractor’s personal laptop updated with the latest security patches? Is their antivirus software active and current? Are they using a shared family computer, potentially riddled with malware from other users? You likely have no visibility or control over the devices they use.
    • Unsecured networks – Are they working from a coffee shop and using public Wi-Fi? Is their home network properly secured? These connections can be gateways for attackers.
    • Data sprawl and control – When contractors download firm data to personal drives or mix client files with their personal documents, your ability to control and protect that information vanishes. Where does your data go? Who else sees it?
    • Lack of oversight – Without direct management of their devices, enforcing your firm’s security policies (e.g., strong, unique passwords or screen lock timeouts) becomes nearly impossible.
    • Offboarding nightmares – What’s your process when a contract ends? Are contractors’ access to your email and files immediately revoked? More importantly, how do you ensure all firm data is permanently and verifiably deleted from their personal devices? Simply asking might not be enough.
    Related reading: How to protect your RIA firm from insider threats

    The solution: Two primary strategies for managing contractor security

    The ideal solution may vary for each RIA or financial advisory firm, but inaction is the riskiest path. Generally, firms can adopt one of two main approaches:

    Strategy 1: Treat them like an employee (the “walled garden” approach)

    This strategy involves bringing contractors fully into your firm’s secure environment.

    • What it means – You issue company-owned and managed laptops. These devices are configured with your security software, encryption, strong password policies, and multifactor authentication (MFA). Contractors access resources via your secure virtual private network and are included in your regular security awareness training. Solutions such as mobile device management or unified endpoint management help you manage these devices remotely.
    • Pros – This gives your RIA maximum control over the devices and data your contractors use. It creates a consistent security posture across everyone accessing your systems, making compliance easier to maintain.
    • Cons – This approach has a higher initial cost for hardware and software licenses, plus some administrative effort to set up and manage.
    • Who it’s best for – The walled garden approach is best for contractors who need deep, ongoing access to critical systems, handle large volumes of sensitive client data, or work with your firm in the long term.

    Strategy 2: Lock your data and systems down (the “limited access” approach)

    This model focuses on stringently restricting what contractors can access and do, especially if they are using personal devices.

    • What it means – You limit access to only essential systems. Often, this means web-browser-only access to email (e.g., Microsoft 365 without letting them sync mail to a desktop app). If they need to share files, you use secure, permission-controlled cloud collaboration tools, rather than granting access to internal file servers. Crucially, you enforce a strict policy against downloading sensitive data to personal devices.
    • Pros – This path is generally lower in cost and can be simpler to implement for contractors with very defined, limited roles.
    • Cons – If a contractor genuinely needs more access to be productive, this model can be restrictive. There’s also a risk of shadow IT, where users find potentially insecure workarounds if their legitimate needs aren’t met.
    • Who it’s best for – The limited access approach is best for contractors with very specific, limited tasks, perhaps for a short-term project, or where communication is primarily via email without needing access to broader firm systems.

    Actionable steps to strengthen contractor security

    Whichever primary strategy, or hybrid version, you lean toward, incorporate these fundamental practices:

    • Risk assessment first – Understand the specific risks. Identify which contractors access what data. What would be the impact on your firm if that data were compromised through that contractor? Assessing contractor risks will help you decide the appropriate level of security.
    • Strong contractor agreements – Your contracts should be more than just service outlines. Include clear clauses on data security responsibilities, confidentiality, and acceptable use of firm data and systems. If personal devices are permitted under strict controls, specify minimum security requirements (e.g., updated operating system, active antivirus, device encryption). Detail your policies for data handling, retention, and required destruction at contract end.
    • MFA everywhere – MFA requires more than just a password to log in to an account, like a one-time code generated by an authenticator app. Make it a nonnegotiable baseline for all accounts — employee or contractor — accessing your firm’s resources.
    • Principle of least privilege – Grant any user, including contractors, only the minimum system access necessary to perform their specific job duties. Review these permissions regularly and remove access that’s no longer needed.
    • Security awareness training – Even a condensed version for contractors is valuable. It’s important that they understand your firm’s security expectations, data handling rules, and how to spot common threats like social engineering scams.
    • Robust offboarding process – This is critical. Create a detailed offboarding checklist. The moment a contract terminates, immediately revoke all access to emails, systems, and files. Ensure the return or certified destruction of any firm data they ever had access to. If users know any shared passwords, change them.

    Why contractor security is an absolute must for your RIA

    The convenience and expertise that contractors and outsourcing bring to your RIA or financial advisory firm are undeniable. However, this flexibility shouldn’t come at the expense of your clients’ sensitive data or your firm’s regulatory standing.

    Your firm can effectively manage these risks. It just requires a proactive, deliberate approach. Whether you fully equip your contractors as if you would your full-time employees or implement strict access limitations, a documented strategy for contractor security is essential. Such a measure protects your clients, your valuable data, and the reputation your RIA or financial advisory firm has worked hard to build.


    Does managing contractor IT security feel like just one more complex task on your already full plate? RIA WorkSpace is ready to help. We specialize in IT solutions specifically for RIAs like you. Contact us for a consultation to assess your contractor risk and build a secure framework for your firm.

  • How to protect your RIA firm from insider threats

    How to protect your RIA firm from insider threats

    It only takes one seemingly small mistake or a single disgruntled employee to expose your registered investment advisory (RIA) or financial advisory firm to security risks. Imagine an employee accidentally sending sensitive client information to the wrong email address. Your firm could face regulatory fines, reputation damage, and legal action from affected clients.

    Unfortunately, these kinds of insider threats aren’t just hypothetical — they happen all the time.

    What are insider threats?

    Insider threats are security risks that stem from within your company, such as your employees, contractors, or even former staff who have access to sensitive information or systems. These threats generally fall into three categories:

    • Malicious insiders – These individuals intentionally misuse their data or network access to harm your firm. Examples include disgruntled employees, former employees retaliating after termination, or opportunists who sell sensitive information for profit.  
    • Negligent insiders – Not all threats come from ill intention. Negligent insiders may accidentally mishandle data, use weak passwords, or click on phishing links, opening the door to security breaches.
    • Compromised insiders – These are employees whose credentials are stolen or unknowingly exploited through tactics such as phishing or social engineering. Hackers posing as legitimate employees can wreak havoc on your firm’s security.
    Related reading: Intrusion detection and prevention for RIAs and financial advisors

    Effective security measures against insider threats

    To combat insider threats, your firm needs a comprehensive approach. The following are some proven measures to keep your business secure from the inside out:

    Role-based access control (RBAC)

    Limit data and system access based on roles within your firm to reduce unnecessary exposure.

    • Implement the principle of least privilege – Grant employees access to only the data and tools they need to perform their job. For example, your HR manager should not have access to investment portfolios.
    • Define roles and permissions – Create specific access levels for positions such as RIAs and financial advisors, administrative staff, and IT personnel.
    • Perform regular access reviews – Schedule periodic reviews of employee access to ensure permissions are up to date and align with their responsibilities.

    Data loss prevention (DLP) systems

    A DLP system monitors data movement, flags unusual activity, and prevents leaks.

    • Monitor data flow – Track how client and firm data is being shared, both internally and externally.
    • Use encryption and data masking – These features protect sensitive data and make it unreadable if accessed by unauthorized individuals.
    • Configure alerts and reporting – Set up notifications to flag suspicious activities, such as a sudden surge in data downloads by an employee.

    Listen to our podcast episode on DLP for RIAs and financial advisors to learn more.

    Employee monitoring tools

    Employee monitoring software provides deep visibility into user activities, allowing you to identify suspicious behavior. Monitoring is essential, but it must be done ethically and transparently.

    • Activity logs – Use software to track login history, file access, and downloads.
    • Keystroke logging and screen recording – Detect suspicious behaviors, such as unexpectedly accessing client directories.
    • Transparency – Inform employees why monitoring measures are in place and ensure policies align with local laws.

    Incident response plan

    When a breach occurs, how effectively you respond will define the scale of the impact.

    • Create a structured plan – Outline steps to take during a breach, such as isolating affected systems or contacting necessary stakeholders.  
    • Establish communication protocols – Decide in advance how you will notify clients, employees, and regulators of a breach.  
    • Focus on recovery – Collaborate with IT professionals to recover lost data and prevent future incidents.
    Related reading: How RIAs can stay prepared with effective incident response and reporting

    The importance of fostering a culture of security awareness

    Even with technical safeguards, your employees remain your first line of defense. They can be either your greatest asset or your greatest risk. By fostering awareness, you can tip the scales in your favor.

    Regular security training

    Conduct frequent training sessions to keep your team informed about risks and best practices.

    • Data handling best practices – Reinforce the importance of securing data when storing or sharing files.
    • Phishing awareness – Teach employees how to identify fake emails and avoid clicking suspicious links.
    • Social engineering prevention – Share examples of how scammers manipulate individuals to gain unauthorized access.

    Clear security policies and procedures

    Develop clear, accessible security guidelines that every employee can follow.

    • Comprehensive guidelines – Cover everything from password policies to acceptable use of company devices. This guide will help you craft the most robust security policy for your firm.
    • Enforce compliance – Regularly review employee adherence to these policies through audits and routine questionnaires.
    • Policy updates – Cyberthreats evolve quickly, so it’s important to keep your policies updated with the latest developments.

    Open communication and reporting

    Encourage an environment where employees feel protected when reporting suspicious behavior.

    • Reporting mechanisms – Provide secure and anonymous channels for reporting insider threats.
    • Leadership buy-in – Ensure leadership sets the tone by prioritizing and promoting security initiatives.

    Build a more secure future today

    Insider threats don’t just risk your data and compliance, they jeopardize your firm’s reputation and trust. The good news is that you have the tools to mitigate these risks and foster a safer, more resilient RIA or financial advisory firm.

    Start by assessing your current security measures. Are your access controls up to date? How often are you training your team? Once you’ve identified gaps, implement the strategies outlined above.
    If you’re looking for specialized support, consider partnering with IT experts like RIA WorkSpace. We can help you fortify your defenses and safeguard your firm’s future. Schedule a discovery call to get started.

  • How to ensure you have enough bandwidth for VoIP business calls

    How to ensure you have enough bandwidth for VoIP business calls

    Considering Voice over Internet Protocol (VoIP) for your business calls but unsure if your internet can handle it? It’s a valid concern. Issues such as poor call quality, echoes, or dropped calls can quickly become a major headache. To help you make an informed decision, this blog will break down VoIP bandwidth requirements, the factors that affect performance, and how to ensure smooth, uninterrupted communication for your business.

    What is the importance of VoIP bandwidth?

    Bandwidth refers to how much data your internet connection can handle at any given moment. VoIP systems turn your voice into small packets of data that travel through the internet to the person on the other end of the call. If your connection doesn’t have enough bandwidth, those packets might get delayed, lost, or arrive out of order. That’s when issues such as robotic voices, echoing, or dropped calls occur. For businesses that rely on flawless communication with clients and colleagues, having sufficient bandwidth is a must.

    How much bandwidth does a VoIP call use?

    The bandwidth a VoIP call consumes depends primarily on the codec it uses. A codec is the process (either via software or hardware) that compresses and decompresses audio to make it suitable for transmission over the internet. Here’s an easy-to-digest table of the most common codecs and their approximate bandwidth requirements per call:

    CodecBandwidth per call(up/down)Recommended usage
    G.71180–90 KbpsAn uncompressed codec that suits offices that prioritize high call quality, despite its higher bandwidth requirements
    G.72930–40 KbpsRelatively compressed yet perfect for businesses managing high call volumes, even with restricted bandwidth
    G.722~50–80 KbpsFor businesses seeking HD voice quality surpassing traditional landlines, while balancing call clarity and capacity

    It’s important to note that these numbers represent one-way data usage. During a call, the same amount is used for both sending and receiving voice data. For example, a single G.711 call requires approximately 170 Kbps in total — 85 Kbps for upload and 85 Kbps for download.

    What common factors affect bandwidth usage?

    Bandwidth per call is just the start. Other factors can increase your overall data needs:

    • Number of concurrent calls: More people talking equals more bandwidth needed.
    • Background internet usage: Streaming, large downloads, or video conferencing can compete for bandwidth.
    • Network congestion: Shared networks or peak usage hours can slow things down.
    • Quality of Service (QoS) settings: Without proper network prioritization, VoIP traffic might get delayed or dropped.

    What’s the minimum bandwidth you need?

    To determine your ideal bandwidth, use this formula as a starting point:

    (Bandwidth per call) × (Number of simultaneous calls) = Required bandwidth

    For instance, if your office handles 10 G.711 VoIP calls simultaneously, then:

    87 Kbps (per call up/down) × 10 calls = 870 Kbps (upload) + 870 Kbps (download) = 1.74 Mbps total

    As a rule of thumb, add 20–30% more bandwidth than your calculation requires to account for fluctuating network demands and other factors.

    Tips to optimize VoIP bandwidth

    You don’t need to sign up for the fastest internet plan to enjoy better call quality — just a few smart adjustments can make all the difference. Here’s how to get the best performance out of your current setup:

    • Prioritize VoIP traffic: Adjust your router’s QoS settings to prioritize VoIP data, ensuring it flows smoothly without being interrupted by less important traffic.
    • Upgrade your internet plan: If interruptions are a common issue, it might be time to upgrade to a plan with faster speeds or increased bandwidth.
    • Use wired connections: For a more reliable and interference-free connection, opt for Ethernet cables over Wi-Fi whenever possible. Wired connections offer greater stability and consistency.
    • Monitor your network: Use tools to keep track of network performance, helping you identify traffic spikes or devices causing congestion.

    VoIP is a powerful and flexible communication solution, but it needs sufficient bandwidth to function optimally. Whether you’re running a small business or just setting up a home VoIP system, understanding your bandwidth needs helps you avoid call quality issues and keep your communication clear.

    Learn more about VoIP by talking to our experts. Contact us today.

    Published with permission from TechAdvisory.org. Source.

  • 5 Ways to get the most out of Microsoft Copilot

    5 Ways to get the most out of Microsoft Copilot

    Microsoft Copilot offers a powerful set of AI-driven features across multiple platforms, from Windows to Bing and mobile apps. But simply having access to the technology isn’t enough; you need to know how to use it effectively. In this article, we’ll discuss strategies to help you maximize your Copilot experience and achieve better results.

    Use Copilot to summarize web pages

    If you’re browsing with Microsoft Edge, Copilot can summarize web pages for you. Just click the Copilot icon and select Create a summary to get a concise version of lengthy articles. This feature is incredibly useful when conducting research, as it helps you quickly grasp the key points without reading through entire pages.

    For an even more refined summary, you can customize the output by asking Copilot to highlight specific aspects, such as:

    • Key statistics and data points
    • Main arguments and conclusions
    • Counterpoints and alternative perspectives

    Generate first drafts quickly

    Struggling with writer’s block? Copilot can help jump-start your writing process by generating structured, high-quality drafts. Whether you need an email, a blog post, a report, or a presentation, simply provide a detailed prompt and specify the desired tone (e.g., formal, casual, or professional) to get the words flowing.

    To make the most of this feature:

    • Provide clear, specific instructions for better results.
    • Include key points or ideas you want covered.
    • Indicate formatting preferences, such as bullet points or paragraph structure.

    Additionally, Copilot can suggest alternative phrasing, improve readability, and format text in specific ways, such as outlines, making your writing process smoother and more efficient.

    Sign in for a personalized experience

    While you can use Copilot without signing in, logging in with your Microsoft account unlocks additional features, enabling the AI to better tailor responses according to your needs. Benefits of signing in include:

    • Access to past conversations – Pick up where you left off across multiple sessions.
    • Extended voice chat durations – Engage in longer, more detailed discussions.
    • Cross-device synchronization – Seamlessly continue interactions across different platforms.

    Personalized settings also allow Copilot to refine its responses based on your history, improving accuracy and relevance.

    Use Think Deeper for in-depth analysis

    For those needing more than just a basic answer, Copilot’s Think Deeper feature enhances responses by breaking down complex queries into well-structured, insightful explanations. This tool is particularly useful for analyzing multifaceted problems, conducting comparative research, and seeking detailed step-by-step guidance.

    Enabling Think Deeper provides thorough responses that may include:

    • Pros and cons of different solutions
    • Case studies and real-world examples
    • Expert opinions and industry best practices

    Create AI-generated images

    Copilot isn’t limited to text-based assistance; it can generate custom images as well. Whether you need illustrations for presentations, marketing materials, or creative projects, Copilot can generate it for you with a simple prompt and description of the image you need.

    To get the best results:

    • Provide a detailed description, including color, style, and composition.
    • Refine the generated images by adjusting prompts or requesting variations.
    • Download high-quality visuals for professional use.

    Microsoft Copilot is a game-changing tool, but unlocking its full potential requires a deep understanding of its features. For expert guidance on getting the most out of Microsoft products and other tech solutions, reach out to our IT specialists today.

    Published with permission from TechAdvisory.org. Source.

  • Why It’s Time to Retire Laserfiche: A Smarter Document Management Option for RIAs

    Why It’s Time to Retire Laserfiche: A Smarter Document Management Option for RIAs

    If you’re managing operations, compliance, or making technology decisions at a Registered Investment Advisor (RIA) firm, you already know how important document management is. Whether it’s for client records, contracts, or compliance audits, your system needs to be secure, reliable, and easy to use.

    Many RIAs have relied on Laserfiche for years. But the technology landscape has changed—especially with how much the Microsoft platform has evolved. If you’re already using Microsoft 365, then you may not realize that you already have access to a more secure, streamlined, and cost-effective alternative—SharePoint.

    1. You’re Likely Paying for Redundancy

    Laserfiche doesn’t stand alone. It usually requires a file server or third-party hosting service—and in many cases, you still need SharePoint or Microsoft 365 to run other parts of your business.

    So why pay twice?

    SharePoint offers all the core functionality RIAs use Laserfiche for: document storage, version control, retention policies, secure sharing, and compliance workflows. But it’s already part of your Microsoft 365 platform—no extra licenses, no bolt-on servers, and no separate vendors to manage.

    2. Built-In Compliance and Security

    As an RIA, you’re governed by strict SEC and FINRA regulations. Laserfiche users often assume the system automatically handles retention, backup, and legal hold requirements—but that’s not always the case. In fact, many setups require additional vendors just to stay compliant.

    SharePoint, on the other hand, comes with built-in compliance tools:

    • SEC 17a-4 and FINRA-compatible retention
    • Preservation lock
    • Granular access controls
    • Built-in audit trails

    And because it’s part of Microsoft 365, it benefits from the full weight of Microsoft’s security infrastructure—no VPNs, no legacy remote desktops, and no waiting hours for disaster recovery if something goes wrong.

    3. You’re Probably Only Using a Fraction of Laserfiche’s Features

    We’ve seen it time and again: RIAs paying for a “sophisticated” solution but only using 2–3 core features. In many cases, they’re using Laserfiche like a glorified file folder—while the true power of the system (like redaction or workflow automation) goes untouched.

    With SharePoint, you can:

    • Automate document review workflows
    • Organize and classify files by client, date, or compliance requirement
    • Access everything securely from any device, anywhere

    And because it’s integrated into Microsoft Teams and Outlook, your team can collaborate and manage documents in the same place they already work.

    4. It’s Just as Easy to Use—And More Flexible

    Some firms stick with Laserfiche simply because it feels familiar. But SharePoint has come a long way. The modern interface is clean, intuitive, and easy to navigate—especially for teams already using Microsoft apps.

    Plus, scanning documents into SharePoint is as simple as configuring your scanner to drop files into a SharePoint-connected folder. No extra software. No clunky remote desktop connections. Just scan and go.

    5. Migration Is Easier Than You Think

    Worried about the hassle of moving years of files and processes from Laserfiche to SharePoint? You’re not alone—but the good news is, the migration process is more straightforward than most RIAs expect.

    With the right planning and support, your documents, folder structures, and even metadata can be migrated smoothly into SharePoint. Tools and scripts designed specifically for content migration help ensure that nothing is lost and everything is securely transferred.

    Even better—most RIAs discover that they were only using a handful of Laserfiche’s features, and those same (or better) tools are already available in SharePoint. A focused migration means you’re only bringing over what you truly need—and setting up your new system to work better from day one.

    And here’s an important point: you don’t have to stop using Laserfiche on day one. You can migrate your documents and start using SharePoint while keeping Laserfiche active in the background. Once you’re confident that SharePoint meets your needs—and your team is comfortable using it—you can fully retire Laserfiche.

    Whether you’re working with an IT provider who knows the RIA space or handling the process internally, migration doesn’t need to be disruptive. In fact, it’s often the first step toward modernizing your entire compliance and operations infrastructure.

    The Bottom Line

    If your firm is already using Microsoft 365, you have what you need to replace Laserfiche. SharePoint offers the same functionality—often with better compliance, more flexibility, and fewer costs.

    This isn’t about cutting corners. It’s about modernizing your tech stack and getting more out of what you’re already paying for.


    Want to learn more about IT support designed specifically for RIAs?
    Let’s talk about your setup and how SharePoint—and other Microsoft tools—can simplify your compliance, security, and daily operations.  Schedule a discovery call.

  • Protecting client data while outsourcing noncore tasks

    Protecting client data while outsourcing noncore tasks

    Outsourcing has become a lifeline for many registered investment advisors (RIAs) and financial advisors. By handing off noncore tasks such as portfolio management, compliance, or marketing to specialized vendors, advisors can focus on serving their clients. However, this convenience comes with certain risks. Entrusting sensitive client data to third-party vendors introduces the potential for security breaches, data leaks, and regulatory consequences.

    Let’s explore how third-party vendors can be a weak point in your security and some actionable tips for protecting your client data while outsourcing.

    Why third-party vendors pose a security challenge

    When you hire a vendor, you’re extending your practice’s security to include theirs. A single breach or slip in the vendor’s security measures can have a direct impact on your client data. This chain of trust, while necessary for outsourcing, poses vulnerabilities if not carefully managed.

    The risks with third-party vendors often originate from several sources, including:

    • Lack of robust security protocols – Some vendors may not use proper encryption, lack regular system updates, or have unpatched system vulnerabilities.
    • Different compliance standards – Vendors that operate across industries or regions might not align with the stringent compliance standards expected of RIAs and financial advisors.
    • Insider threats – Employees within a vendor’s organization could accidentally or intentionally misuse access to your data.

    When a vendor’s mistake impacts client data, it’s not just an internal issue for them. For you, the fallout can include:

    • Reputational damage – Clients trust you with their sensitive personal and financial data. Breaking that trust can harm your credibility.
    • Regulatory scrutiny – RIAs must adhere to regulations such as the SEC’s Regulation S-P. A violation can result in audits or hefty fines.
    • Legal liability – Clients affected by a breach may pursue legal action, which can be costly both in terms of money and time.
    • Operational disruption – A breach often requires immediate, resource-intensive efforts to contain the situation, investigate, and repair damages.

    How to fortify your defenses against vendor risks 

    Fortunately, your RIA or financial advisory firm can take proactive steps to ensure your vendors are securely handling your data.

    Conduct vendor security assessments 

    A vendor security assessment is a critical first step in evaluating if potential vendors meet your security standards. Some key areas to evaluate include:

    • Data encryption – All sensitive data that vendors handle must be encrypted at rest (stored) and in transit (being transferred). This prevents unauthorized access even if data is intercepted.
    • Access controls and authentication – Vendors should implement strong authentication (e.g., multifactor authentication) and have clear controls over who accesses data.
    • Incident response plans – Confirm that vendors have plans in place for detecting, responding to, and mitigating security breaches.
    • Security awareness training – Ask about employee training programs so you know if all personnel are educated on security best practices. 
    • Compliance certifications – Look for certifications such as SOC 2, ISO 27001, or GDPR compliance that validate the vendors’ commitment to security.

    Keep in mind to perform assessments regularly, not just during onboarding. Ongoing monitoring and evaluation of vendors’ security practices is crucial for continued protection of data.

    Related reading: How MSPs simplify IT vendor management for RIAs and financial advisors

    Implement secure data sharing practices

    Sharing data with vendors is often unavoidable, but the methods you use can either mitigate or magnify risk. A few risky practices to avoid are:

    • Sending sensitive information via email or unencrypted file sharing platforms
    • Sharing unnecessary details that increase exposure
    • Allowing vendors to store data on their own insecure servers

    To mitigate these risks, consider implementing secure data sharing measures such as:

    • Secure client portals – Some vendors offer client portals with robust authentication and encryption. Take advantage of these tools to transfer data securely. 
    • Data loss prevention (DLP) tools – DLP tools monitor and control how data is shared, preventing unauthorized transfers or accidental exposure.
    • Principle of least privilege – Grant data access only to those who need it. Restrict unnecessary access to confidential information.

    The best practice is to minimize exposure wherever possible. Share only essential information, and consider anonymizing data if the vendor doesn’t require specific client details.

    Related reading: Streamlining third-party vendor management and compliance for RIAs

    Use nondisclosure agreements (NDAs)

    NDAs legally bind vendors to safeguard the information you share with them. They outline expectations and responsibilities so that both parties are on the same page. Some key elements to look for in an NDA include:

    • Clear definition of confidential information – The agreement must explicitly state what is considered confidential. 
    • Restricted use and disclosure – Vendors should only use shared data for agreed-upon purposes and avoid sharing it further.
    • Data security obligations – NDAs should specify the measures vendors must take to protect data, such as encryption or secure storage.
    • Data return or destruction procedures – Require vendors to securely return or delete your information once the contract ends.

    An NDA also provides legal recourse if a breach occurs, adding another layer of protection for your business.

    Safeguarding client trust is nonnegotiable 

    Outsourcing noncore tasks allows your RIA and financial advisory firm to focus on providing exceptional client service. However, this outsourcing must be done responsibly to protect sensitive data and preserve client trust. 

    By conducting thorough vendor security assessments, using robust NDAs, and prioritizing secure data sharing methods, your firm can mitigate risks and create a secure, trustworthy environment for both your clients and your business. 


    Need help navigating IT security challenges? Reach out to our experts at RIA WorkSpace. We specialize in secure IT solutions for RIAs and financial advisors.