As a core part of the critical economic infrastructure, financial firms offer a prime target for adversaries who want to steal data and funds or even to disrupt the industry. Financial firms effectively have fallen behind in a cyber arms race, and the magnitude of risk has vastly increased, with organized crime and state-sponsored attacks becoming more active and powerful. But financial professionals may have a surprising ability to adapt.
Undoubtedly one of the biggest stories this year was the rise of the robo-advisers and their growth in assets under management (AUM). Retirement security was another big story. But looking in the rearview mirror is only so useful. What's just as important to consider is which trends will continue to influence the advisory business in 2015 and beyond.
A recent paper warns that though cyber-crime has not yet had systemic impacts on securities markets, a presumption of safety could open markets up to a black swan event.
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