Hybrid work offers registered investment advisory (RIA) and financial advisory firms unprecedented flexibility, but for a chief operating officer (COO), it also introduces significant operational and security complexities. When your team accesses sensitive client data from multiple locations, the devices they use become the new security perimeter. Maintaining control and compliance in this scattered environment is a significant challenge, and an unmanaged device is a major business risk waiting to be exposed.
Effective device management functions as a core business strategy, directly impacting your firm’s compliance posture, operational efficiency, and hard-won reputation. This guide walks you through the essential elements of device management that every RIA COO must understand to protect and scale their firm.
What COOs need to know about RIA device management
A proactive approach to device management is critical for ensuring compliance, safeguarding client data, and maintaining operational efficiency in a hybrid work environment.
Compliance starts with device oversight
Regulators consider cybersecurity a top priority. The SEC, in particular, places a strong emphasis on how financial firms protect information, making device security a primary area of scrutiny during audits.
The core compliance principle is simple: every single device that accesses client data must be accounted for. It applies to a company-owned laptop in the office, a personal tablet at home, and a smartphone used on the go. Each one must be inventoried, monitored, and secured according to firm policy. Failing to account for even one device creates a significant compliance blind spot that can lead to deficiencies, fines, and lasting reputational damage.
Visibility and control are nonnegotiable
For a COO, operational visibility means having a centralized dashboard that provides a comprehensive overview of all company-connected devices. It requires knowing their physical location, security status, and user access levels at a glance.
Platforms such as Microsoft Intune, a key component of the Microsoft 365 ecosystem, deliver this exact capability. With this level of control, you can implement security policies uniformly across the entire organization, remotely lock a device, reset a password, or deploy critical applications, so every endpoint meets your security standards.
Automatic updates and patching reduce risk
Many security breaches are not the result of sophisticated hacks but of simple human error, such as a missed software update or an unpatched vulnerability. Relying on employees to perform these updates manually is an unreliable strategy.
A modern device management system automates this function entirely. It consistently enforces the installation of security patches, verifies that antivirus software is running and up to date, and confirms that device-level encryption is active on all endpoints. Automation removes the element of human error from the equation, fostering a stronger and more consistent security posture for the entire firm, regardless of where employees work.
| Related reading: Why legacy systems are a risk for RIAs and financial advisors |
Effective device management streamlines employee onboarding and offboarding
Imagine a new advisor joining your firm. Their device arrives already configured with all the necessary applications, security settings, and access permissions they need to be productive from their first day. Device management makes this “day-one readiness” a repeatable, scalable process.
The offboarding process is just as critical. When an employee departs, their access to firm and client data must be severed instantly. A device management solution allows IT to immediately revoke system access, block the device from the network, and remotely wipe all company data if necessary. Performing these steps methodically protects both the firm and its clients from potential data exposure.
Business continuity depends on device readiness
Imagine that one of your advisors’ laptops is stolen at the airport or it crashes without warning. Can they continue serving clients securely and effectively? With a comprehensive device management plan, the answer is yes.
By pairing managed devices with cloud-based backups tied to the user’s profile, the firm’s data remains safe even if the physical hardware is compromised. The lost device can be wiped remotely to prevent unauthorized access. A new device can then be quickly provisioned with the employee’s applications and data, minimizing downtime and maintaining productivity through unexpected disruptions. Effective incident response is a crucial component of any modern business continuity plan.
| Struggling to secure your data in a hybrid work environment? Get insights on how to choose the right security tools. In this episode of RIA Tech Talk, we break down the essential endpoint protection solutions that are perfect for a modern, flexible RIA. Listen to RIA Tech Talk Episode #15 now |
Make secure device management your strategic advantage
For an RIA with a hybrid work environment, a well-executed device management strategy is fundamental to meeting compliance obligations, mitigating cyberthreats, and promoting smooth operations. By taking decisive control of all endpoints, COOs can confidently empower their teams with the flexibility of hybrid work while safeguarding the firm’s most valuable assets.
RIA WorkSpace can help you build a resilient, scalable device management strategy. Contact us today for a consultation, and learn how we can protect your firm and empower your hybrid setup.