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Data security at Motley Fool Wealth Management: How safe is my information?

The following information comes directly from our Privacy Statement, Brochure (Form ADV, Parts 2A and 2B), and Investment Advisory Agreement.

Safeguarding your information

As a fiduciary, Motley Fool Wealth Management is committed to safeguarding the use of your personal information. Any Personal Information you provide to us is stored on our secure servers. We use strict procedures and security features to try to prevent unauthorized access.

The only situation in which we would contact someone else about your money is if you’ve authorized them as a Trusted Contact through your custodian account if you passed away or had another life-altering event—even then, we generally refrain from accepting instructions from your Trusted Contact with respect to your account, unless they’re appropriately authorized such as an executor, guardian, attorney-in-fact, or other authorized representative.

We’re required to keep your nonpublic information confidential, unless we’re required to disclose it by law. 

Privacy Policies and Procedures

Our Privacy Policies and Procedures are in accordance with the SEC per The Gramm-Leach-Bliley Act of 1999, which is designed to safeguard the privacy of our clients. We don’t share information about any current or former clients with any nonaffiliated third party, unless we’re required by law or reasonably necessary to prevent fraud, unauthorized transactions of liability.

Anti-money laundering

Your money isn’t held with us. Your account is opened and maintained at our qualified custodians, Interactive Brokers and Charles Schwab, which are required to maintain and monitor compliance with the BSA and USA PATRIOT Act rules.

Red Flags Rule & Identity Theft Protection Program

With the use and application of information technology and electronic communications being the norm, so is the ever-looming threat to the integrity and privacy of personal information. We’re accountable to the SEC Regulation S-ID, or the “Red Flags Rule”, which requires us to have an Identity Theft Protection Program designed to identify, detect, and mitigate identity theft. 

Cybersecurity

As a fiduciary, we take seriously the need to maintain secure systems by having processes in place to ensure your data is protected. We have a Cybersecurity Committee, which meets semiannually (or more frequently if necessary) to review and provide advice about security controls for our business.

Motley Fool Wealth Management employees cannot disclose to any third party any information about the investment positions you hold, any transactions made on your behalf, your name, address, or any other identifying information, your personal financial information (including your income, net worth, or account information). We don’t share information with nonaffiliated parties for marketing purposes, either.

Motley Fool Wealth Management is subject to laws enforced by the SEC and FTC that govern the privacy of consumer information, which includes the following measures:

  • Our electronic records are safeguarded by restricted access through encryption and multi-factor authentication. We also use a protected VPN.
  • All of our work-related documents must be stored on authorized systems approved by our Legal Department, and all business-related communication must take place through monitored channels. 
  • We receive training at least annually on the requirements to keep client information, firm information, and passwords secure and confidential. 
  • We sign an Employment and Confidentiality Agreement upon hiring and are removed from all systems when we leave the company. 

To learn more about additional steps that you can take to keep your information safe, check out our Insights blog: Worried About Your Financial Accounts? How to Increase Cybersecurity at Home