Entreda, an award-winning developer of integrated cybersecurity compliance software and solutions for the wealth management and insurance industries, today announced that Private Advisor Group, one of the largest and fastest-growing independent wealth management firms in the country*, which oversees over $30 billion in client assets, has selected Entreda as its cybersecurity risk mitigation and compliance solution.
The two companies are aligned in helping financial advisors diminish cybersecurity risk, protect client data and comply with fast-changing regulations. Starting in April, Entreda was made available to Private Advisor Group‘s Investment Advisor Representative community as a benefit of affiliation. Being that LPL Financial is also partnered with Entreda to help protect systems against cyber-attacks, this launch makes the application a fit for Private Advisor Group’s entire advisor community. Services are offered through Entreda’s Unify Platform featuring 24×7 monitoring and response for threats and vulnerabilities.
Sid Yenamandra, CEO and founder of Entreda, a Smarsh company, said, “As the wealth management universe adapts to modern technology and remote advisor-client relationships, firms more than ever need to know whether they can trust their networks across different time zones and geographical location. Industry leaders see that the quality of services provided to clients cannot be guaranteed, however, a robust third-party risk-management capability allows safer access to cloud-based apps and other tools. Entreda’s edge in identifying and fixing gaps in all-important networks and our high-profile partnerships with some of the nation’s largest wealth management firms, make us a great solution for firms like Private Advisor Group.”
Philip Coniglio, Chief Information Officer and Chief Information Security Officer at Private Advisor Group said, “Independent financial advisors need to know that the networks they and their clients use enhance security and protect them from cyberattacks, particularly ransomware. Private Advisor Group is a family of like-minded advisors who hold high value in placing clients’ interests first and are committed to growing their business as entrepreneurs and financial experts. Entreda will allow our advisors to safely build thriving practices while staying ahead of the competition.”
The Unify Platform will provide Private Advisor Group’s advisor community with constant, around-the-clock endpoint monitoring. Unify complements existing security software and was built to provide an added layer of protection and to save advisors time with adhering to security requirements. Entreda’s risk-based authentication uses scores to determine whether a computer poses a security threat. It also aids in detecting issues and giving a path to addressing threats quickly and compliantly.
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