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Although cloud computing is fast becoming the norm in IT, many people still have trouble defining “the cloud.” Even among IT experts, the term “cloud” can refer to a wide variety of different technologies that are only connected in a general sense.

This confusion makes it hard for wealth managers to know whether the cloud is secure enough to support their firms’ critical information and workflows. The answer to this question isn’t so much “yes” as “yes, it can be.” Not all clouds are created equal, especially when it comes to management and infrastructure. In order to experience the full benefits of the cloud, wealth managers need to understand which type of cloud solution is the right fit for their practice before they begin the transition process.

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