Resources > Blog

How can you ensure privacy and data security for your HNWI/UHNWI clients?  

High net- and ultra-high net-worth individuals (HNWI/UHNWI) and family offices require a higher level of privacy and security assurances. As a trusted advisor, the tools you use to service your client’s financial needs need to meet world-class security standards. It’s difficult to focus on deeper, personalized relationships when you are constantly worried about protecting the privacy and data security of your clients.

In the ebook 6 Essential Tools to Help You Manage HNWI/UHNWI Clients: Your Guide to Ensure Financial Clarity and Data Security we’ll give you a clear understanding of what kind of security measures you should expect from your accounting and financial management partners.

Work with partners experienced with client privacy

At Plumb, we take security of customer data seriously. Operations are designed to ensure compliance with all data protection laws and regulations. State-of-the-art bank-level security and an in-house IT department provide additional monitoring and oversight. Plumb trains all employees specifically in the privacy best practices that apply to HNWI/UHNWI and family office clients.

Use software with world class privacy protection and data security

Highly confidential financial data requires software housed in data centers that meet high audit standards and are monitored 24/7/365 by security professionals. Security that only a world class software company like Sage Intacct can provide.

Sage Intacct applies the physical, network, application, and data security standards that protect the most private, critical data of your clients. External audits and other third-party certifications ensure financial information will be protected in a highly secure environment. Security features built into the Sage Intacct application prevent unauthorized programs, systems, and users from gaining access to resources and data. World class data centers are monitored 24/7/365.

Consistent quality control measures

Checks and balances are the keystone of professional level accounting and financial management. Quality control measures should ensure that no one person has control over all parts of a financial transaction. When working with a partner to deliver services to your HNWI/UHNWI clients, it’s critical that they can demonstrate how they establish the proper checks and balances in financial management.

Plumb follows a 7-phase process that features segregation of duties, multiple levels of review, and secure access. Using Sage Intacct as the unified accounting platform, transactional processes, consistent reviews, required authorizations, and user access are all systematically applied. Multiple sets of examination provide the checks and balances to prevent fraud and ensure accuracy.

The quality control measures integrated into the Plumb procedures, and the automated processes of Sage Intacct  reduce the opportunities for human error and fraud. Connecting data directly to vendors and other applications reduces the chance of errors due to manual data entry. By working with the experts at Plumb and their experience with Sage Intacct, you can take advantage of secure electronic payment options and timely reconciliations.

Learn more about privacy and security assurance for your HNWI/UHNWI clients

To help you maintain your focus on security as you work with your clients, please check out the ebook 6 Essential Tools to Help You Manage HNWI/UHNWI Clients: Your Guide to Ensure Financial Clarity and Data Security.

When you entrust the accounting, reporting, and data security details to true experts, you can focus on deeper, personalized, and even more strategic service delivery to your HNWI/UHNWI clients.

Plumb Family Office Accounting & Bill Pay is a high-touch technology family office accounting and bill pay service provider dedicated to serving the needs of high-net-worth and ultra-high-net-worth clients. Plumb ensures that your client’s bills are paid on time and works in partnership with you to deliver the highest quality data and financial reporting. In addition to our bill pay services, we also provide comprehensive Family Office Accounting support.

Let’s talk about how we can help you build trusted relationships with your clients.


Take the First Step

Request a consultation to learn how Plumb Bill Pay customizable service offerings can help you save time, gain clarity and remain in control.