Modern Wealth Enhances Cybersecurity with Visory's SecureCompliance™ Solution
In a world where cybersecurity threats are becoming increasingly sophisticated, companies, especially within the financial sector, must prioritize the protection of sensitive data. This is where Modern Wealth Management steps up, having recently partnered with cybersecurity leader Visory to enhance its defenses via the innovative SecureCompliance™ platform.
Based in Chesterfield, Missouri, Modern Wealth Management has seen exponential growth, managing over $6 billion in assets and supporting more than 6,700 clients. With its rapid expansion and over 180 employees, the firm recognized the growing need for a robust cybersecurity program. However, the absence of in-house IT security expertise made it imperative for them to seek an effective solution.
Enter Visory, renowned for its dedication to providing tailored cybersecurity programs. Their SecureCompliance™ platform has been a game changer for Modern Wealth, providing a scalable and proactive approach to cybersecurity. According to Mike Capelle, Co-Founder and Co-CEO of Modern Wealth, “SecureCompliance was very convenient, very timely, and it has been working out pretty well. It provided a lot of transparency on how we're doing, where we have gaps, and where we need to focus our attention.”
The platform functions as a virtual Chief Information Security Officer (vCISO), facilitating significant advantages without the associated costs of a full-time hire. Its AI-powered capabilities offer tailored cybersecurity frameworks that align with Modern Wealth's specific risk profile. This means that not only does it highlight vulnerabilities, but it also provides a detailed remediation plan with real-time visibility.
The SecureCompliance™ platform has enabled Modern Wealth to implement firmwide multi-factor authentication (MFA), conduct customized risk assessments, and develop specific security policies. As J.P. Rankin, Chief Compliance Officer at Modern Wealth, states, “It was not a boilerplate experience. The input and feedback were specific to what we do as a business — it was very tailored to our needs.”
The collaboration between Modern Wealth and Visory has also stressed the importance of transparency and education. Leaders at Modern Wealth now have actionable insights about their risk landscape, allowing them to make informed decisions that align with their long-term strategic vision.
In addition to robust risk assessment, the partnership supports Modern Wealth’s ambition to redefine wealth management through technology and human connection. By advancing their cybersecurity posture, they ensure that clients’ data remains securely protected, even in the face of increasing cybersecurity threats.
The deployment of Visory’s SecureCompliance™ platform not only fortifies Modern Wealth’s defenses but also enables continuous evolution alongside the firm’s growth. As they embrace new technologies and expand their services, the importance of a proactive and adaptable cybersecurity strategy has never been clearer.
For more detailed insights on how Visory is supporting Modern Wealth, you can explore their case studies at
visory.net/case-studies.
This collaboration exemplifies the way financial institutions can better safeguard assets and client data, setting a robust precedent for the industry. As the challenge of cybersecurity grows, partnerships like the one between Modern Wealth and Visory will likely become increasingly common, helping firms to navigate the complexities of the digital age securely.