The Financial Planning Association (FPA) has released new guidance to help its members strengthen their vigilance against cyber threats.

FPA says the guidance is the first of many on cyber security and privacy principles that will be prepared to help members meet both their ethical obligations to protect clients and their regulatory obligations.

“Cyber risks are an imminent threat to businesses, the success of individual financial planning practices, and the security of clients’ financial information,” FPA CEO Sarah Abood said.

“However, cybersecurity can be overwhelming for many financial planners with confusing software and technology jargon.”

She says it is “critical” that the FPA takes the lead in safeguarding advice practices and their sensitive client data.

The guide is available on the FPA member portal and covers keys topics like importance of cyber security, practical mitigation steps and regulatory obligations.