Too Much Cybersecurity May Not Be a Good Thing
Cybersecurity is regularly ranked a top priority by advisory firms and other financial institutions. Media outlets report on companies that get hacked. The SEC issues guidance and also takes enforcement actions against advisers for not protecting client information. Cyber consultants and systems vendors find plenty of work, as advisers cannot seem to spend enough money to assure clients and potential clients that their confidential information is safe. So can a firm provide too much cybersecurity? You bet it can.