MSP Evaluation
Before selecting an MSP, financial advisors should evaluate cybersecurity experience, compliance knowledge, response commitments, strategic planning capabilities, reporting, and financial services understanding. The right partner reduces risk and improves planning, while the wrong provider can create frustration and hidden exposure.
Question 1: Do You Support Financial Services Firms?
Industry knowledge matters because financial firms face unique security, regulatory, and operational requirements. Ask for specific examples, not just a general list of financial services clients.
Question 2: How Do You Protect Client Data?
- MFA
- Endpoint security
- Email security
- Monitoring
- Incident response
A strong answer here should map directly to the cybersecurity controls every financial firm should implement.
Question 3: What Are Your Response Times?
Ask how critical, high-priority, and standard requests are handled. This matters most during a cybersecurity incident response, when response speed directly affects the outcome.
Question 4: What Strategic Services Are Included?
- vCIO services
- Roadmap planning
- Budget forecasting
- Quarterly reviews
If strategic technology leadership through a vCIO is not part of the base agreement, ask what it costs as an add-on.
Real Client Scenario
A Wayzata-area financial services firm with 11 to 50 employees needed a more secure and modern workplace technology environment while strengthening identity management and compliance controls. Veracity Technologies deployed Microsoft 365 Business Premium, integrated Microsoft Entra ID, and implemented modern security policies including multifactor authentication, conditional access, and centralized device management.
As a result, the firm improved its cybersecurity posture, streamlined user provisioning and access management, increased visibility through security and compliance reporting, and established a scalable technology foundation supported by proactive communication and ongoing strategic guidance.
Frequently Asked Questions
What is the best starting point?
Start with a clear review of your current environment, risks, support needs, and business goals.
How often should this be reviewed?
Most firms should review this at least annually and revisit it when the business, regulations, or technology environment changes.
Why does this matter for financial services firms?
Financial firms handle sensitive data and often need stronger cybersecurity, compliance readiness, and operational resilience.
What should leadership ask first?
Ask what risk this reduces, what business outcome it supports, and how it fits into the broader IT roadmap.
How can Veracity help?
Veracity can help evaluate the current environment, identify gaps, and build a practical roadmap for cybersecurity, compliance, and strategic IT planning.
Evaluate Your Current IT Provider
Use this guide to start a practical conversation about cybersecurity, compliance, strategic planning, and support maturity.
Request an MSP Performance Review
