Investment and Wealth Management Firm Case Study

IT Support Coverage Plan

Comprehensive MSP

Company Background

The client is a privately-owned investment and wealth management firm focused on high-net-worth institutions and people.

Investment and Wealth Management Firm Case Study

Business Challenge

The client has relied on the Stratosphere team for managed IT services for more than six years. When they first connected with us, they were a new business. We helped them set up their original offices in the Chicago suburbs.

In more recent years, the client has sought Stratosphere's assistance in complying with financial industry regulations and ensuring the security of sensitive data.

Stratosphere Networks Solution

During the client's early years, Stratosphere advised them on everything from desktop and server setup to internet and voice services. Our team vetted various vendors and solutions and helped establish a solid IT platform for the firm, as well as the support necessary to maintain a stable and secure infrastructure.

The solutions Stratosphere provided during the client's earlier years included the following:

  • On-premise Microsoft Windows Server infrastructure
  • Windows desktops and laptops
  • Creation and maintenance of the client's Active Directory domain
  • Secure internal network and firewall
  • Management of voice services deployment

As the company became more established, our team continued to provide consulting services focused on long-term IT strategy. The firm expanded from about 10 staff members in one location to more than 50 people across three geographically dispersed locations. In partnership with the company's executive management, Stratosphere developed an IT road map to migrate the client from on-premise solutions to cloud platforms that would better serve the growing business.

The initial road map included moving to Office 365 for email and Office applications. As the organization continued to grow, our team also implemented additional cloud solutions for data sharing and cybersecurity:

  • Microsoft SharePoint
  • Microsoft OneDrive
  • Azure Active Directory
  • Microsoft Intune

Additionally, Stratosphere helped the company implement advanced IT security solutions to comply with industry regulations. The client must adhere to SEC regulations under the Investment Advisers Act of 1940, since they are considered an RIA (Registered Investment Adviser). They also must adhere to certain parts of The Gramm–Leach–Bliley Act (GLBA).

To protect sensitive data and ensure compliance, the firm now uses certain advanced Microsoft cloud ecosystem security features, such as the following:

  • Multi-factor authentication
  • Single sign-on
  • Managed Detection and Response (MDR) tools

Benefits

With our support, the firm has evolved into a cloud-based organization with a clear understanding of cybersecurity risks and how to comply with the regulatory requirements for securing their IT environment. For this client, as they grew and evolved, we provided vital guidance through virtual CISO (vCISO) and virtual Chief Compliance Officer (vCCO) services. Because compliance is an ongoing process, we continue to assist them with advisory services, as well as comprehensive managed IT services.

The implementation of cutting-edge IT security tools has helped the company ensure the security of clients' data, achieve compliance and gain a competitive edge in their industry.

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