Half of platforms have sophisticated client security protocols - NextWealth study

Authentication systems

Tom Ellis
clock • 1 min read

Less than half of platforms (45%) have introduced either two factor authentication (2FA) or multi-factor authentication (MFA) systems for clients, according to research by NextWealth.

The other 55% rely on more typical security protocols, such as usernames and passwords, but are planning to introduce further security measures over the next 12 months. In its report, included as part of one of its series of papers, Adviser Tech Stack Series Spring 2021, NextWealth found a third (30%) plan to introduce 2FA and the same portion MFA, which would take the portion of platforms using either 2FA or MFA to 86%. NextWealth MD Heather Hopkins said: "It's good to see that almost half of platforms have already introduced 2FA or MFA. Looking ahead twelve months, all but three of the...

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