Who proactively asks their software stack providers about security?
The results are in from ASIC's Cyber Pulse Survey, and the report has been released (12th November 2023). So much to unpack!
One of the points they make is around supply chain risk.
Without looking at the survey, I'm interested to know your thoughts on the percentage of advice firms that have already asked their software stack providers about the levels of security they have in place and can provide the evidence to show they did their DD.
What percentage do you think have this on file?
5 Replies
- jenny.brown
Advisely Board
Great point Fraser.Jack something I know we need to be more diligent about gathering, I would think less than 10% would have any evidence on file, hopefully I'm wrong.
- anne.graham
Advisely Board
Good question and I'd agree with jenny.brown
- deborah.kent
Advisely Board
Fraser, we have an external IT guy who has ensured that we have all the necessary programs in place for cyber security, he also provides us with due diligence on any providers doesn't mean he is always happy with the answers he gets, however having someone external is a good thing for us as we would not be looking at this all the time.
- siran.taylor
Iress Team
Foe those who are not aware, the Iress Community now has a self serve section in the Trust Centre Knowledge Base.
This is a great first port of call for locating any of the standard Due Diligence documentation regarding Xplan and Iress.
- roccomusumeciExploring Newcomer
I'm glad ASIC is keeping cybersecurity top of mind. Regarding supply chain risk, my guess is fewer than 20% of firms have proactively vetted their software vendors' security. Many see it as the vendor's responsibility. But we must take ownership too. If we don't ask the tough questions, we may be caught unaware. I think framing security reviews as collaborative partnerships, not interrogations, can open doors. Protecting client data is a shared priority.
Welcome to the Advisely forums!
This is where financial advice professionals from all walks of life come together to share knowledge, swap ideas, solve problems, and talk all things growth and efficiency.
Here are some tips when posting in the forums:
- Be respectful and courteous to fellow members
- If a reply helped you, mark it as a solution so other users can find it easily
- Take a moment to read through our Community Guidelines
- For Xplan support issues, it's best to raise a ticket in Iress Connect first. You can also search the discussions for posts about the same issue first before starting a new thread.
- Keep an eye out for our 'Ask me anything (AMA)' threads – these are live text-based Q&As with industry and Xplan experts during a set period of time. Find out when the next one is happening here.
- Don’t be shy! You don’t need to be an expert to help someone out. Many users are looking for practical advice, shared experiences, or just a fresh perspective
- Introduce yourself and meet other members here!
We’re glad you’re here – see you around! 😁
Recent Discussions
Things to consider when creating individual vs company Professional Advisers in Xplan
Hi everyone 👋 I’m looking for best practices and things to consider when creating Professional Advisers in Xplan. The purpose is purely to link them to clients as authorised third parties, and to ...michelle.butler.010 days agoActive Interactor31Views2likes4Comments🤓 Xplan Hint: Auto update fields against both the client and the partner record
Did you know you can use a task outcome to not only update fields against the primary client but the partner record as well? The secret is in the “Is joint? = Yes” field When creating a thread or...courtney.youngblutt14 days agoXplan Expert7Views1like0Comments🤓Xplan Hint: Saving time with bulk client actions
Did you know you can perform an action across multiple clients, all at once? If you ever need to do something in bulk for a list of clients, like adding a file note or task for example, then this h...kenny.foo14 days agoXplan Expert12Views1like1CommentBest practice for linking Entities in Xplan
Hi there 👋 I’m seeking some guidance on best practices for linking entities in Xplan, and any key considerations to keep in mind. It’s been a while since I’ve needed to do this, so I want to make ...michelle.butler.015 days agoActive Interactor27Views3likes2Comments