Independent advisors often think cybersecurity is something “the big firms” need to worry about. But the truth? RIAs are often at greater risk.
In this episode of RIA Collective, host Charlie Van Derven sits down with Carmine “Carm” Cicalese, founder of CYBER CIC (“CHICK”) and partner at Digital Privacy & Protection, to unpack what every independent advisor needs to know about protecting sensitive client data, staying compliant, and maintaining client trust.
Carm breaks down cybersecurity into three key areas - People, Processes, and Technology - and shares how most advisors are investing in the wrong one. He also explains why compliance doesn’t equal security, and what steps RIAs must take to close that dangerous gap.
In this episode:
00:00 – Why trust in financial services depends on data security
03:15 – The #1 cybersecurity mistake independent advisors make
06:42 – How hackers target RIAs and their clients
09:30 – Why “adequate compliance” isn’t the same as “protection”
13:10 – The 50/30/20 rule for cybersecurity investment
17:45 – Practical steps to protect your firm and your clients
Whether you’re a new RIA, breaking away from a wirehouse, or running a mature independent firm, this conversation will help you understand the human, operational, and tech layers of cybersecurity that protect both your clients and your reputation.
🎧 Listen now and subscribe to RIA Collective for more conversations that help independent advisors grow, protect, and scale their businesses.
Connect with Carm Cicalese:
💼 linkedin.com/in/carmcicalese
🌐 https://cybercic.com/
Connect with Charlie Van Dervenn:
🌐 https://www.social-advisors.com/
💼 LinkedIn: https://www.linkedin.com/in/charlievanderven/
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