The rise of the internet over the last 15-20 years has been spectacular. It’s re-shaped the way we do business, communicate with friends and family, and how we manage our financial affairs. This digital revolution is a benefit to all. Helping put time back in our days, stay connected with larger amounts of loved ones, and scaling businesses. However, like any positive in life, there’s a negative side to this increased autonomy and connectivity.
With the increase in business and money management, there is more money and personal information flowing digitally than ever before. Take the recent Facebook data breach for example, where over 50 million people’s personal information was breached. Or, even more astounding, the 3 billion Yahoo accounts that were breached in 2013. If each one of these accounts represented a person, that would equate to over 40% of the world’s population having their personal information and passwords stolen.
A 2017 study done on identity fraud by Javelin Strategy and Research found some startling results. Fraud incidents have risen 16% over the past year. That equates to over $16 billion being stolen from U.S consumers in 2016 through online identity theft. And this trend isn’t going away anytime soon. With the increase in digital traffic, the more advantageous identity theft becomes. And the more of our personal lives we share through the internet and social media, protecting our identity becomes a critical part of our financial lives.
At Kathmere, our goal is to provide confidence in every aspect of our client’s financial picture. We pride ourselves on all the ways we currently help clients through investment management, comprehensive financial planning, tax efficiency, and the management of retirement plans for businesses. However, we believe there’s more we can do. Kathmere wants to fill in other cracks in your financial lives as well. We accomplish this through our Wealth 360 experience, aimed at creating an all-encompassing experience for clients and their financial affairs. We have researched and analyzed various identity protection solutions currently on the market. If you would like to learn more about our recommendations of Identity protection solutions currently available, please reach out to your trusted advisor here at Kathmere for more information. Because it isn’t just about how we help you manage your wealth, it’s about giving you the confidence and security in every aspect of your financial life so you can focus on what matters most to you.