Dryden Partners Settles with Regulators Over WhatsApp Fine

October 07, 2022 9:49 AM EDT | Source: Grooming Web Technologies

Taipei, Taiwan--(Newsfile Corp. - October 7, 2022) - As per a recent report from Dryden Partners, an investment advisory company located in Taipei City, it was fined $2 million dollars by regulators for failing to monitor employees' use of encrypted messaging services. Keeping all business conversations inside proper channels is becoming more important for registrants as new technologies emerge at a fast pace. Any and all business-related communications, both within and outside of a financial institution, must be subject to strict supervision.

"Our company has recognized that it has not complied with federal securities rules regarding record-keeping," said Steve Dryden, Chairman. "We have just begun working on our own mobile app and hope to release it in the second quarter of 2023 so clients can have direct contact with their financial advisors and securely scan and submit paper documents through email, all inside the app itself. Until our app is live, we can still use WhatsApp but we won't be using it to negotiate investment agreements of any kind. As a result of the app, we can confidently say our clients will be able to work in tandem with their financial advisor, see their whole financial picture, get transparent suggestions and continuing assistance. Clients may access their accounts, see their portfolios, and get notifications using biometric identification techniques such as fingerprint or face scanning."

"Leaning heavily on one's distinctive value proposition is the single most critical thing wealth management firms can do to compete in today's market. This entails making it easy and clear for investors to use our app as a whole, but also giving tailored assistance and critical information along the way," said James Clarke, the managing partner of the firm. "To those clients who prefer paper records, we will continue to provide them as an alternative, but the app will give the rest of our client's access to their own tailored investment success data."


Now, after nine years in business and with over 150 seasoned specialists from across the world working for the company, the firm manages assets worth $1.3 billion USD. Dryden Partners' top analysts, economists, traders, and Senior Wealth Managers have worked together to get where they are. In terms of total return over the last six years, the equities portfolio managed by Dryden Partners has consistently beaten all major benchmarks by an average of 28 percent every year. Visit https://drydenpartners.com/ for more details.


Contact - Richard Lehmann
Email - press@drydenpartners.com
Company address - Chuang Yuan Chi Ti, 89-99 Roosevelt Road, sec. 2, Taipei, 106, Taiwan

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