Protecting Your Financial Information: Expert Insights from Linscomb Wealth

For successful professionals and executives, the worry about digital security adds another layer to financial complexity. In today’s landscape, wealthy families face increasingly sophisticated threats targeting their financial well-being.

Linscomb Wealth recently gathered key executives to share practical strategies for safeguarding your family’s financial assets. This conversation reflects our commitment to not just managing wealth, but protecting it.

Meet Our Expert Panel

Our conversation included:

• Phillip Hamman, President and CEO
• Daniel Thornton, Chief Operations Officer
• Scott Miller, Director of Technology
• MaryJane LeCroy, Senior Wealth Advisor

How to Spot and Avoid Communication Fraud

One of the most common threats today comes from sophisticated actors impersonating financial institutions. COO Daniel Thornton emphasized the importance of verification:

“If they’re asking for any sort of information on your account, asking you about login passwords, that is definitely somebody who’s not acting in your best interest.”

The Golden Rule: Never respond directly to unsolicited communications claiming to be from financial institutions. Instead, call your bank or advisor directly using their official phone number to verify legitimacy.

Why Password Security Is More Critical Than Ever

Scott Miller, our Director of Technology, rated password security as “a 10 out of 10” in importance—later upgraded to “a 12” by our CEO. Your password is your first line of defense against digital threats to your wealth.

Miller recommends:

• Creating complex passwords that include special characters
• Avoiding common phrases and personal information like birthdays
• Using encrypted password manager applications rather than writing passwords down
• Enabling multi-factor authentication on all financial accounts

“You think about everything you secure with your password, from your social security number to your financial accounts… a hacker can take your identity, ruin your credit, take all your money.”

Four Proactive Steps to Protect Your Family Today

MaryJane LeCroy shared insights from her experience working directly with clients who have experienced identity theft:

1. Freeze Your Credit: This preventative measure is recommended even for minor children.
2. Monitor Your Financial Activity: Regularly review statements and banking activity.
3. Consider Professional Monitoring Services: Services like LifeLock provide an additional layer of protection.
4. Be Aware of IRS Scams: Remember that “the IRS will only reach out to you via mail through the United States Postal Service. They will not text you, they will not email you, they will not call you.”

From Protection to Peace of Mind

At Linscomb Wealth, we understand that true wealth management extends beyond investment returns to include protecting what you’ve built for your family.

Many of our clients tell us that implementing these straightforward security measures provides the confidence they need to focus on what matters most – their families, their goals, and their legacy.

Watch Now: Our Leadership Team Shares Essential Cybersecurity Strategies

Join Linscomb Wealth’s experts for a 5-minute discussion on protecting your family’s financial security in today’s digital landscape. Get actionable insights you can implement today to safeguard your wealth.

WATCH VIDEO

For a personalized discussion about securing your financial information, reach out to your Linscomb Wealth advisor today.