Outsourced Paraplanning: Data Security Best Practices We Follow  

For financial advisors, data security consistently ranks highest as their main concern when outsourcing. 

However, this depends on the outsourcing partner you pick.  

As a Hirdaramani group venture with a 100-year legacy, our outsourced paraplanning services come with an absolute guarantee of data security. 

Data privacy lies at the foundation of our operations. We’ve built a comprehensive framework to safeguard your data and your client’s sensitive information, ensuring confidentiality at every level. 

This article breaks down our policies and frameworks that ensure end-to-end information security in our paraplanning services. 

How We Ensure Maximum Data Security in Outsourcing  

1. Compliance with Regulatory Guidelines 

Our team of certified paraplanners has a proven track record of providing exceptional services to Financial Advisory firms across Australia for years.  

To do this, we adhere to globally benchmarked regulatory standards and client-specific requirements to prevent data breaches. 

• GDPR (General Data Protection Regulation): Adherence to data privacy laws enforced by the European Union, ensuring strict compliance for data collection, storage, processing, and handling. 

• DPA (Data Protection Act): Compliance with the Privacy Act 1988, Australia, providing a robust framework for protecting personal data and preventing data breaches. 

• Cross-Border Data Security: Our protocols are designed to securely manage data transfers across jurisdictions, respecting international privacy standards. 

2. Industry-Leading Compliance Standards 

• ISO/IEC 27001:2022:  Our ISO compliance ensures a systematic approach to establishing, maintaining, and continuously improving an Information Security Management System (ISMS) to mitigate risks. 

• Dedicated IT & Compliance Team: A specialised team monitors, maintains, and improves security systems while ensuring full ISO compliance. 

3. Best Practices for Data Protection 

To strengthen data security, we implement industry best practices that complement compliance frameworks: 

• Regular Risk Assessments: We conduct internal ISMS audits and independent audits with renowned firms like KPMG to identify and mitigate security risks. 

• Data Encryption: Our advanced encryption algorithms safeguard data both at rest and in transit, ensuring client confidentiality. 

• Password Rotation & Role-Based Access Controls: Implementing strong password policies and access restrictions minimises unauthorised access. 

• User Activity Monitoring: Company-issued devices track user activities to detect and respond to suspicious actions instantly. 

• Highly regulated & controlled office environment: Restricted entry systems, security cameras, and environmental safeguards protect against physical breaches. 

• Client-Server Priority: Client data is accessed exclusively via remote desktop, ensuring all data is stored on client-designated servers. USB access and downloading client documents are strictly prohibited to maintain the highest level of security. 

• Data Loss Prevention (DLP) Protocols: We implement strict Data Loss Prevention measures to monitor sensitive data transfers and restrict unauthorised sharing outside approved channels. 

Don’t let data security concerns hold you back from growing in 2025.  

With H Connect International as your outsourcing partner, your data is in the safest hands possible.