The Key to Keeping Your Personal Data Safe When Using Robo Advisor Services

“THE RIGHT KIND OF BARRIERS”

by Contributor

(Apr. 9, 2018) — Everything on the web is becoming more automated, and thus more convenient for users. In fact, most web users are used to keeping certain accounts such as their email accounts automatically logged in, so they can be alerted to new incoming messages in real time. While very convenient, you also have to remain vigilant about maintaining the privacy and security of your personal information. You can use tools like Personal Capital to get total control over your finances, but make sure you understand how to use robo advisement safely. Read below to find the best way to keep all of your personal banking information private.

What Security Do You Have On Your Computer?

Even the best and most secure passwords can be breached if you let hackers forge a direct path into your computer. In other words, the virus protection that you have installed on your computer and smartphone is the strongest defense you have against security breaches. Keep all software up to date and allow it to monitor your computer continually. Setup a firewall and scan your computer regularly, so you can learn quickly if your computer’s defenses have been breached.

Using Robo Investors Intelligently

While there are various robo investors that are better at one function compared to another, you have to be aware of which tools you allow access to your data. Ideally, you should stick to one robo advisor at a time, so that you can get more accurate financial tracking. This will also limit the number of outside entities that have access to all of your personal data at any given time. Review different robo advisors and use the program that you feel comfortable with.

Implementing Ideal Security Measures

First and foremost, the passwords that you have on your various online banking accounts need to be strong, which means that they should never be easy to guess. Hackers and internet thieves mainly consist of gangs and syndicates that use keyloggers and password cracking tools, but some web security breaches can also occur close to home. Changing your passwords every few months is also a good way to keep unscrupulous people out of your personal business. You can use a password generator to come up with random strings of number, letters, and special characters that will make it very difficult for hackers to brute force their way into your online accounts.

Like anything else that you access on the web, robo advisors are perfectly safe if you are aware of what the terms of use are. Strong passwords are suggested as it is impossible for your accounts to be accessed if you put up the right kind of barriers. So, get to work improving your personal finances with the assistance of a robo advisor without being concerned about security issues. If you feel comfortable downloading games on to your smartphone, then there is no reason to feel uneasy about using a robo advisor. Increase your computer security and get personalized financial advice.