How to Interview IT Providers

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As a virtual chief information security officer for multiple RIAs, I’ve worked with plenty of IT firms.

Unfortunately, I’ve been impressed by only a few.

Why? Many of them don’t understand the unique risks facing financial advisors and give RIAs the same services as all their other clients.

Below are five interview questions that you should ask when looking for an IT provider. And guess what – if you have IT help, ask them these questions too!

Good IT is critical: Your business is at risk!

Stanford University found that a whopping 85% of data breaches are caused by human error, which includes IT people. My own data supports this. When I review client systems (all of whom have an IT firm in place), my security analysts find 50-75% of the security settings are set up incorrectly.

This should scare you.