Entreda, a developer of integrated cybersecurity compliance software and solutions for the wealth management and insurance industries, announced that independent broker-dealer Vestech Securities, and its SEC-registered investment advisor Vestech Asset Management, which collectively oversee $211 million in client assets, has elected Entreda to provide their advisors and employees with network protection under Entreda’s industry-leading cyber platform, Unify.
Vestech Securities’ decision to turn to Entreda to monitor and remediate cybersecurity risks reflects how the industry-recognised vendor’s strong track record in protecting firms continues to reinforce Entreda’s reputation for best-in-class cyber risk management, backed by a deep knowledge of industry regulations. As a result of the agreement, Vestech will have access to Unify’s network vulnerability assessment and penetration testing, vendor due diligence and cybersecurity threat remediation solutions, in addition to the benefits of Entreda’s commitment to excellence in service.
Sid Yenamandra, CEO and founder of Entreda, a subsidiary of Smarsh company, said, “The rising threat of network breaches across industries have prompted wealth management firms to increase and enhance protection measures. Companies understand advisors cannot serve the best interests of their clients or invest their money with confidence, without a platform that eliminates cyber risks or have in place a vendor risk assessment process. Entreda’s relentless focus on network security, the capability of its end-to-end platform to give a full report on the cybersecurity of any users who access company data, help wealth managers guard against system vulnerabilities.”
The Unify platform offers wealth management and insurance enterprise clients continuous network and endpoint monitoring for all network computers and other devices. The platform is comprised of Entreda’s proprietary Cyber Risk Number, a scoring system that evaluates users’ and organisations’ cybersecurity postures, and Entreda’s industry-leading auto-remediation. It also provides real-time network vulnerability scanning, cyber awareness and anti-phishing training, and cyber due-diligence of third-party vendors.
According to the 2021 T3 Inside Information Advisor Software Survey, Entreda is the market leader for cybersecurity resources, with a 14% share – over four times more share than its next closest competitor in the financial advisory space.
Vestech’s leadership team chose Entreda because they sought a company that understood FINRA regulations. FINRA lists Entreda among vendors in its directory.
John Huang, president of Vestech Securities, said, “As a firm dedicated to helping to grow the practices of independent financial advisors, Vestech understands the importance of protecting investment professionals, their valuable business, and their clients. Widespread vulnerability to cyberattacks looms large in the wealth management industry, and Entreda’s Unify platform provides the tools we need for continuous monitoring and adjustment, to detect issues at the earliest stages and address them quickly.”
Marco Ramirez, Vestech’s Chief Compliance Officer, stated, “When we set out to identify a vendor of cybersecurity services, we wanted a company that understood our culture of integrity and achieving industry best practices. Entreda’s highly regarded Unify platform, with its stellar ratings from other firms, was the most obvious choice. We are pleased to take cybersecurity to the next level on behalf of our independent advisors and the clients they serve.”
