Be Informed: What You Need to Know About the Recent AssetMark Data Incident

At McKay Wealth, protecting your financial well-being extends beyond your investments—it also means keeping you informed when events occur that could affect your personal information.

Recently, AssetMark notified advisors of a data security incident resulting from a sophisticated phishing attack that compromised the credentials of one of their employees. As part of their investigation, AssetMark determined that certain client information may have been exposed, including names, account numbers, addresses, and Social Security or Tax ID numbers.

While hearing about any data incident can feel unsettling, it's important to know that AssetMark has confirmed that no client assets were compromised. Login credentials, banking information, and AssetMark's core operating systems were not affected. Additionally, the information involved cannot be used on its own to access accounts or initiate transactions.

AssetMark is actively notifying impacted clients and will provide complimentary credit monitoring services to those affected. They have also implemented additional security measures and monitoring protocols as they continue to strengthen their cybersecurity defenses.

Steps You Can Take to Protect Your Identity

While incidents like this are uncommon, they serve as a good reminder to take proactive steps to safeguard your personal information:

1. Monitor Your Credit Reports

Review your credit reports regularly for any unfamiliar activity. You can access free reports from all three major credit bureaus at AnnualCreditReport.com.

2. Consider a Credit Freeze

A credit freeze can help prevent new accounts from being opened in your name without your authorization. Freezes can be placed directly with Equifax, Experian, and TransUnion.

3. Watch for Suspicious Communications

Be cautious of unexpected emails, text messages, or phone calls requesting personal information. Scammers often take advantage of publicized incidents to impersonate trusted organizations.

4. Strengthen Your Passwords

Use unique, complex passwords for financial and online accounts, and consider using a password manager to keep them secure.

5. Enable Multi-Factor Authentication

Whenever available, turn on multi-factor authentication (MFA). This adds an extra layer of protection even if a password becomes compromised.

6. Review Account Statements Regularly

Take a few minutes each month to review financial account activity and report any unfamiliar transactions immediately.

We're Here to Help

We understand that news like this can raise questions and concerns. Please know that your assets remain secure, and we continue to closely monitor updates from AssetMark.

If you receive a notification from AssetMark or have questions about identity protection, credit monitoring, or your accounts, our team is here to help. We are committed to keeping you informed and supporting you every step of the way.

As always, thank you for your trust.