If you are among the unlucky clients who has never asked these questions, you still need to consider each one after a breach. And once you have gathered all the relevant information, the biggest question of all is still left to answer:
Has your financial advisor done everything required in order to protect your private information?
If the answer is no and your information is now in the hands of cybercriminals, you are going to want to hire an attorney and, most likely, fire your financial advisor at the end of the process.
However, if the financial advisor was taking all of the necessary actions to keep your information safe, you are going to want to get on the team with your financial advisor and work to help resolve this breach.
We recognize that a data breach is scary, but you do not have to panic. Data breaches do not necessarily mean that you will become a victim of identity theft. Following the advice above will help make this high-stakes decision of whether to keep or choose a new financial advisor a little easier — and reduce the risk of theft.
— By Brian Edelman, CEO at Bloomfield, New Jersey-based cybersecurity company Financial Computer