Why is the vendor due diligence platform available for free to RIA firms?
Third party vendor due diligence is one of the most critical cybersecurity compliance challenges that RIA firms face today. RIA in a Box is committed to making the vendor due diligence platform to all RIA firms in order to help the RIA industry collaboratively address this major industry challenge.
As more RIA firms migrate to cloud-based technology and vendors, proper vendor management and due diligence is becoming an even more important element of every investment advisory firm's cybersecurity compliance program. In today's world, investment advisers need to actively mitigate the risk of indirect information security breaches via a third party vendor that leads to the exposure of the RIA firm's nonpublic personal information ("NPI") or other sensitive information.