As investment advisors consider their RIA compliance services solutions, many firms utilize cloud based providers to store their firm’s files and information. Such a solution is typically cost effective and easy to utilize as most investment advisors are trying to go paperless these days. Although cloud solutions are a great way to help achieve that goal, it is very important that before you sign on for such a service that you carefully explore what systems and protocols the service provider has in place to protect your investment advisor firm’s information. Recently, I came across a blog by CompWALK where they outlined 13 questions you need to ask your data center provider. If you are currently with a cloud based provider, this outline is relevant to consider if your current provider can meet these important benchmarks. It is a well written and easy to read blog. I recommend that you consider each of the 13 questions raised to determine if your provider is a good fit.
