In this article, we talk to the headline sponsor of FWR's recent forum on cybersecurity issues about the challenges and potential solutions covering a multitude of threats.

As the Headline Sponsor of the 2025 Cybersecurity Forum, Omega Systems is not just leading the conversation, it’s leading the charge. With deep experience securing high net worth environments, Omega is on the front lines helping family offices navigate the realities of risk, resilience and readiness. In this exclusive Q&A, Family Wealth Report sat down with Warren Finkel (pictured) managing director at Omega Systems, to explore the evolving threat landscape and how family offices can strengthen their defenses for the road ahead.

Top cybersecurity risks family offices can’t ignore
FWR: Why are family offices such appealing targets for cybercriminals?
Finkel: Family offices sit in a unique position of high value and low visibility. They often manage significant wealth, personal data, and private investments – but without the robust security frameworks or regulatory requirements of larger financial institutions. That combination makes them extremely attractive to bad actors. Throw in limited IT staff and lean operational teams, and it’s easy to see why hackers are taking aim.

FWR: What cybersecurity risks are unique to family offices compared with other organizations?
Finkel: Many family offices still rely on legacy systems or public tools to manage sensitive information. That might include unsecured file-sharing platforms, outdated infrastructure, or little to no identity access management. Plus, cybersecurity awareness and training often fall by the wayside, meaning that employees aren’t always following the best security practices and might not know what red flags to look for. We’ve seen increasingly sophisticated phishing, smishing, and even AI-generated deepfakes that can deceive even well-trained users, which makes it more likely that untrained users may fall victim. Unfortunately, without proper security controls like multi-factor authentication or endpoint security in place, these risks can escalate fast.

Current trends in the cyber threat landscape
FWR: What has changed in the family office threat landscape over the past few years?
Finkel: Cyber threats have gotten smarter – and faster. We’re seeing attackers use new technologies like AI to create scams that feel incredibly real, whether it's a fake email from a trusted contact or a message that looks like it came from a family member. At the same time, the way these attacks happen has shifted. It’s no longer just about hacking into systems – it’s about tricking people, exploiting relationships, and sneaking in through less obvious doors, like vendors or partners. For family offices, the damage isn’t just financial – it’s personal and reputational, and that can be much harder to recover from.

FWR: Are you seeing certain types of attacks rise faster than others?
Finkel: Absolutely. Business email compromise (BEC), credential harvesting, and ransomware remain among the most common threats. But what’s alarming is how personalized these attacks are becoming – cybercriminals are researching individuals, tailoring their approaches, and exploiting trust. Voice cloning, fake wire requests, and fraudulent investment correspondence are all tactics that can be deceptively used against family offices to gain access to their sensitive data and financial details.

FWR: How MSPs are helping family offices ward off attacks
Finkel: As a managed IT service provider for family offices, Omega Systems is on the front lines witnessing these types of attacks and implementing processes and controls to thwart them. What is Omega’s general approach to security in this evolving threat landscape? 

To start, we strongly believe that there is no one-size-fits-all approach to cybersecurity. There are key hallmarks within certain sectors and industries and shared knowledge, but effective risk management today is about combining the strength of enterprise-grade security with the agility and white-glove service that family offices demand.

That approach doesn’t have to be cost-prohibitive either; it just needs to be thoughtful. Our model is built on defense-in-depth – meaning we layer detection, protection, and response technologies to reduce gaps and decrease the chance that any single point of failure will compromise the entire operation. Beyond developing robust solutions, it’s also our commitment to security education and strategic advisory that sets us apart in this space. 

FWR: How does Omega tailor its services to fit the needs of family offices?
Finkel: We begin with a comprehensive risk assessment to uncover blind spots. From there, we design a roadmap tailored to the office’s size, structure, and operations – everything from cloud security and endpoint protection to backup and incident response planning. Importantly, we help establish a culture of security. That means training family members and staff, creating clear playbooks for responding to incidents, and ensuring that systems can scale securely over time as the office grows or evolves. 

Securing a plan for the future
FWR What’s the first move a family office should make if they want to strengthen their cybersecurity?
Finkel: Start with better visibility. You can’t protect what you don’t know you have. Many family offices lack a complete inventory of their digital assets, user access, or even where sensitive data lives across their network. That’s a critical first step. Next, work with a trusted partner – like Omega – who can help design a strategy, implement security controls, and offer continuous monitoring and response. This is not a “set it and forget it” exercise. These threats evolve daily, and so must your defenses.

FWR: Any final thoughts or best practices to share with our readers?
Finkel: Years ago, it was easy to overlook security or let it fall to a lower priority while you focused on other operational details. With the threats we’re seeing today, that’s no longer a reality. For family offices stewarding generational wealth, the stakes are incredibly high. We’re proud to be a trusted advisor to the family office community and remain committed to helping them build smarter, stronger, and more secure operations for the future.

As managing director of Omega Systems' Northeast Region, Warren Finkel leverages decades of experience and deep-rooted relationships within the financial services sector to bring meaningful IT solutions to his customers. In his 25+ years in the IT industry, Warren has cultivated a reputation for delivering exceptional, bespoke IT solutions to family offices, private equity firms, hedge funds, RIAs, and alternative asset firms. His proven ability to combine strategic IT vision with outstanding customer service makes him a highly sought-after advisor.