Securities America Osaic Name Change and Data Security

Securities America Osaic is making a significant change by rebranding to Osaic Financial. This name change is a part of the company's ongoing effort to modernize and expand its services.

The rebranding is expected to be completed in the near future, with a new website and logo already in the works.

As part of this change, Osaic Financial will continue to prioritize data security, ensuring that client information remains protected.

Osaic Financial has a robust data security system in place, which includes encryption and two-factor authentication to safeguard client data.

Securities America Osaic is a unique platform that offers a range of benefits to its users.

It provides a comprehensive suite of tools and resources that help advisors and their clients make informed investment decisions.

Osaic's advanced analytics capabilities enable advisors to quickly and easily identify trends and patterns in their clients' portfolios.

This allows them to provide more personalized and effective investment advice.

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The platform is also highly customizable, allowing advisors to tailor it to their specific needs and workflows.

Osaic's integration with Securities America's existing systems and tools makes it a seamless addition to any advisor's toolkit.

This integration enables advisors to access all the information and resources they need in one place, making it easier to manage their clients' investments.

Securities America Osaic is designed to help advisors build stronger relationships with their clients and grow their businesses.

By providing a range of valuable tools and resources, it helps advisors to stay ahead of the competition and achieve their goals.

Data security is a serious concern for anyone who handles sensitive information. Osaic Wealth and its affiliate Securities America experienced 24 collective cyber intrusions between January 2021 and March 2023.

These cyber intrusions exposed the personal information of over 32,000 customers. The firms lacked data loss prevention controls at some of their branch offices.

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A robust cybersecurity program is essential for protecting sensitive data. However, Osaic and Securities America's enterprise-level program failed to require data loss prevention controls like multi-factor authentication.

The lack of controls allowed hackers to access sensitive information without being detected. This is a clear example of how inadequate cybersecurity measures can lead to devastating consequences.

Between January 2021 and March 2023, both firms relied on an enterprise-level cybersecurity program. But it wasn't enough to prevent the cyber intrusions that exposed the personal information of over 32,000 customers.

The firms' failure to maintain email access logs at branch offices made it difficult to track and prevent the intrusions. This highlights the importance of having robust data security measures in place.

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