The latest technology news in the wealth management sector from around the world.

Smarsh, Estrada
Smarsh, a US firm helping businesses manage risks associated with electronic communications, has acquired Entreda, which builds cybersecurity and risk compliance software and services for wealth managers.

Entreda will continue to use its own name and be led by co-founder and CEO Sid Yenamandra; it will function as a stand-alone, wholly-owned subsidiary of Smarsh. 

The virus pandemic has prompted wealth managers such as RIAs and broker-dealers to use channels such as Zoom and Microsoft Teams because in-person meetings are out of bounds. And that can create openings for hackers.

"In the past few months, more and more companies have asked for our help in addressing the regulatory, compliance and cybersecurity risks associated with the move to long-term remote-work models and the expanded use of mobile and collaborative communications technology, such as Microsoft Teams, Slack and Zoom," Brian Cramer, chief executive at Smarsh, said. 

The acquisition gives Smarsh a business that serves nearly 300 clients, including major RIAs and broker-dealers in the industry such as Advisor Group, a wealth management firm with over 11,000 independent financial advisors. Entreda was founded in 2011 and has offices in Santa Clara, California. Smarsh is based in Portland, Oregon with nine offices worldwide, including locations in Silicon Valley, New York, London and Bangalore, India.