Cybersecurity essentials for financial advisers and practice owners
By Ivon Gower, Director of Financial Planning Products, Morningstar Australasia Pty Ltd.
- Prior to an Attack: Begin by understanding and mitigating potential risks. Preparing your staff with precise protocols to follow during an attack is essential—this proactive measure ensures that everyone knows their role and minimises the risk of chaos. Forethought is key: avoid formulating your strategy in the heat of the moment.
- During an Attack: Having a well-structured response plan in place is imperative. Equip your team with the knowledge of how to handle the situation effectively. Remember, in the midst of an attack, calm and well-orchestrated actions can save the day
- Post Attack: The aftermath calls for swift recovery. This phase is not just about restoring your business, but also elevating your cybersecurity readiness and potentially using your cybersecurity insurance.
This document is issued by Morningstar Investment Management Australia Limited (ABN 54 071 808 501, AFS Licence No. 228986) (‘Morningstar’). Morningstar is the Responsible Entity and issuer of interests in the Morningstar investment funds referred to in this report. © Copyright of this document is owned by Morningstar and any related bodies corporate that are involved in the document’s creation. As such the document, or any part of it, should not be copied, reproduced, scanned or embodied in any other document or distributed to another party without the prior written consent of Morningstar. The information provided is for general use only. In compiling this document, Morningstar has relied on information and data supplied by third parties including information providers (such as Standard and Poor’s, MSCI, Barclays, FTSE). Whilst all reasonable care has been taken to ensure the accuracy of information provided, neither Morningstar nor its third parties accept responsibility for any inaccuracy or for investment decisions or any other actions taken by any person on the basis or context of the information included. Morningstar does not guarantee the performance of any investment or the return of capital. Morningstar warns that (a) Morningstar has not considered any individual person’s objectives, financial situation or particular needs, and (b) individuals should seek advice and consider whether the advice is appropriate in light of their goals, objectives and current situation. Refer to our Financial Services Guide (FSG) for more information at morningstarinvestments.com.au/fsg. Before making any decision about whether to invest in a financial product, individuals should obtain and consider the disclosure document. For a copy of the relevant disclosure document, please contact our Adviser Solutions Team on 1800 951 999.
How we look after your savings
- A key focus on risk management, not just the potential for returns
- Increasing your buying power
- Today’s best investment opportunities