Password Security

Password security is crucial for keeping your personal information safe. Follow these steps to reduce cyber risk.

Password Strength

It is recommended to use passwords that are at least 12 characters long and changed once every 365 days, unless a password becomes compromised. This is important for all accounts that have access to sensitive information like email, computer logins, bank accounts, and any social media accounts.

Your email password may be the most important password you own. Many people focus on financial institution passwords but forget that a hacker who gains access to email can often reset passwords for banks, brokerage accounts, credit cards and social media accounts. Treat your email account as the master key to your digital life.

Password Management

Consider using a trusted password manager to securely store all your login credentials. Choose a solution that protects your information with strong encryption and a single master password. There are a lot of reputable options out there to help ensure your passwords stay strong, complex, and secure. We recommend conducting your own research on a tool that works best for you.

Password Mistakes to Avoid

Avoid using personal information like names, birthdays, and any public information that could be found on the internet or social media.
Do not write passwords down, reuse passwords, or repeat characters in a row.
Do not reuse passwords. If a site is breached, criminals immediately try those same credentials on banking, email and investment accounts.
Use unique passwords because criminals purchase leaked usernames and passwords from data breaches and test them across thousands of websites automatically.
Be careful with your security questions. Many answers can be found online. Consider using random answers stored in your password manager.
Many cybersecurity experts no longer recommend changing passwords too frequently unless it has been breached or you suspect unauthorized acces. Frequent password changes cause people to choose weaker passwords.

Multi-Factor Authentication

MFA adds an additional layer of security to an account in the form of authenticator app or code sent through email or messaging. Enable MFA on all accounts with sensitive information ensuring that even if a password is compromised, the bad actor will still need access to your device to approve the login request.

Whenever possible, use an authentication app or hardware security keys since they are more secure than text message codes.

Passphrases

Create strong complex passwords by using passphrases, such as ‘$unris3overCrystalLake42’ or 'BlueCoffeeTrain!RunsAtSunrise', to remember passwords and add strength in length.

Simplified Password Checklist:

Passwords are 12 characters minimum
Passwords are changed every 365 days
Passwords have upper/lower case letters, numbers, and special characters
Password management solution is in place
Passwords aren’t shared
Passwords aren’t reused
No public or personal information within password
Enabled Multi-Factor Authentication
Take caution with phishing scams

The strongest password is one you don't reuse, protect with multi-factor authentication, and store securely. In today's environment, good password habits are no longer just a cybersecurity best practice, they're an essential part of protecting your assets. If you believe your password with your LPL account, please contact our office so we can direct you on the next steps.

This content is developed from sources believed to be providing accurate information, and provided by Wealth Manager Group.

This information is not intended to be a substitute for specific individualized tax, financial or legal advice. We suggest that you discuss your specific situation with a qualified tax, financial, or legal advisor.

The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.