At TradePMR, data security is a top priority. Maintaining the confidentiality of your clients’ data is necessary, and we work to make sure we are doing everything in our power to protect that data. To that end, we recently decided to undergo a voluntary System and Organization Controls (SOC) 2 Type II audit. This test provides an assessment of our security and privacy control environment and is a way for us to confirm if our current systems are working effectively in maintaining data security. The audit was conducted to evaluate TradePMR’s broker-dealer services and our advisor management software.
The Results
This SOC 2 Type II audit and resulting report, which were performed by an independent licensed Certified Public Accounting firm that specializes in SOC audits, concluded that our policies and processes have been functioning effectively.
While there is never a guarantee, this assessment is incredibly valuable in identifying the security of TradePMR’s systems and shows that our team has been taking the right steps to ensure the safety of your clients’ data. The report includes detailed descriptions of the controls currently in place at TradePMR, the tests performed to evaluate those controls, the results of those tests, and an overall judgement of the design and operational effectiveness of our system. This assessment provides verification and assurance, supported by documented evidence, that TradePMR’s policies and processes have been operating as intended.
Moving Forward
We have an ongoing commitment to create and maintain the most stringent controls for the protection and security of your clients’ confidential information. Your trust is paramount, and we are doing everything in our power to maintain that trust. We are continuing to evaluate our policies and procedures for data security and are consistently looking for ways to bolster that security.
However, even with a strong data security system, it's critical that we all do our part to keep up to date on best practices. At TradePMR, we hold trainings for our team to ensure everyone interacting with data knows how to do so securely. We recommend you have these conversations and related trainings with your teams frequently as well – making sure everyone knows how to safely access and share data is at the core of a strong data security program.
