Updated Thursday, July 31, 2014 as of 5:27 AM ET
Blogs - The New Generation's Practice
Password Trick for Cloud Security
Thursday, July 18, 2013

As I have rolled out all the technology in my new RIA, I made a conscious effort to put as much information in the cloud as possible, to give me maximum flexibility. That strategy will also allow my clients to access their financial data in real time and make the planning process flow more succinctly.

Yet I have concerns about security. In having multiple software programs, I have multiple logins to remember -- or, as it turns out, to forget. In pure frustration, I compiled a spreadsheet of my logins and various passwords. But yes, I know, stupid idea. If someone got access to my computer and cracked my main password, they would have full access to all my programs -- and more ominously, to the financial details of my clients.

After doing a little research and talking to other tech-savvy advisors, Iíve found one potential solution (although there are others available). LastPass is a browser plugin that manages all of your passwords. It can store all of your multiple login details (I have 29 unique logins right now) and can automatically populate the fields when you hit a website. (One nice feature: In order to enable that process, you have to provide a master password.)

LastPass is highly customizable; it can remember full login details or none at all. It can sync across various computers and mobile devices -- which is helpful now that I carry some client data in my cell phone. All the data is encrypted in its system, and the company says no employees will have access to your data.

Personally, Iím excited to get multiple passwords out of my head and focus on important things. And yes -- I have deleted the spreadsheet!

(2) Comments
Interesting article. Cloud security is still the biggest road block to widespread adoption of cloud services. This development will help ease some of the concerns with privacy and security of data residing on the cloud Came across this interesting piece on cloud security that might interest a few readers "Cloud risks Striking a balance between savings and security" @ http://bit.ly/ZFPu1l
Posted by james c | Friday, July 19 2013 at 8:00AM ET
Cloud computing and cloud security are very big issues these days making it a great deal of thing and your post really interesting because such post are important as most company owners now a days use cloud computing as a way of data storage.
Posted by jane g | Sunday, July 21 2013 at 10:30AM ET
Post a Comment
You must be registered to post a comment.
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.
2014 Summer Reading List for Advisors

Current Issue

The June Issue is now online!


Industry Events

August 10, 2014 |

September 9, 2014 |

September 17, 2014 |

September 20, 2014 |

September 28, 2014 |

Already a subscriber? Log in here