Great Compliance Starts with a Secure Office Space, Part 2: Financial Services

In the first part of this blog series, we shared how Firmspace supports compliance for legal professionals. But another highly regulated industry – financial services – also demands a well-designed office space that makes it easy to protect client data. And for some professionals, office design can have an outsize impact on where they choose to work.

That was the case for two Firmspace members in finance: Adrian Cravioto (founder of KTR Capital) and Michael Davidson (co-founder of CDRW Partners). We interviewed them to learn which workplace features help them stay compliant in a shared office space.

Office Suites Keep Conversations Private 

Adrian chose Firmspace for two key reasons: privacy and security. He had already worked from some of Austin’s most popular coworking spaces, but their open-floor-plan models were too noisy for his needs. In fact, the noise pointed to a serious confidentiality risk: if he could hear others’ conversations, they could likely hear his, too. As a hedge fund manager, he needed a space where he felt comfortable discussing sensitive investments.

Michael had similar concerns about coworking spaces in Denver. “Open-desk or shared-desk environments were not an option. We work with sensitive data, and having doors and privacy for calls is extremely important.”

What they found at Firmspace was an office space intentionally designed to be private and secure. 

At every location, each member gets their own office suite with a custom digital lock. Sound-masking technology keeps conversations from entering or exiting their space. Frosted-glass doors and windows obscure their office contents from people walking by. And key-access hallway doors separate each office wing from common spaces (like the lobby, kitchen, and cafe areas).

For Adrian and Michael, individual Firmspace suites have the environment they need to protect their clients’ information – and foster trust in the work they do. As Michael put it, “People need to trust us with their information but also trust us as professionals. When people come to the office and see that it's professional, they feel confident that I'm serious about what I do and that I will be around.”

Building Security Mitigates Physical Risks

Personal suites go a long way toward maintaining a secure work environment. But building security is the first line of defense. It’s important for financial services professionals to have an office with robust measures in place to keep bad actors from gaining physical entry.

Michael values Firmspace in part because it offers exactly that. Each location has multiple controlled access points, such as…

  • A security desk in the building lobby to confirm visitors’ relationship to Firmspace.

  • Secure building elevators that require authorization to access Firmspace.

  • A dedicated membership team that greets each visitor in the Firmspace lobby.

  • Key-access hallway doors that keep members-only spaces private.

There are also CCTV cameras in place throughout the building, from the elevator bay to the Firmspace lobby and every hallway in between. Together, these features deter physical security breaches and provide peace of mind.

A Secure Network Safeguards Financial Data

As Michael noted earlier, his firm works with sensitive data, such as individuals’ and businesses’ financial records. This information can’t be exposed to an unsecured wireless connection. He and his colleagues need to be able to use secure digital channels.

Firmspace’s network security satisfies this core compliance need. Members have a dedicated wireless network that’s passed multiple penetration tests – with individually segmented VLANs to enhance digital privacy. As a result, each member’s network traffic is separate from that of other professionals. And IT support can help install firewalls on devices for an additional layer of protection.

Both Michael and Adrian confidently use their secure wifi to handle financial data. For professionals who need additional flexibility, though, each suite also comes equipped with a private wired ethernet connection.

Serious Professionals Deserve Serious Office Spaces

With the right security and privacy features, an office space can be a bulwark against a host of compliance risks. What’s more, it can convey a level of seriousness that strengthens the value and reputation of a firm.

That latter benefit is one of the biggest reasons why Michael and Adrian value Firmspace. It’s a space to bring clients, investors, and even networking groups. In their experience, it leaves a lasting impression on practically every visitor.

Want to join an office space designed for serious professionals? Book a tour and experience proworking for yourself.

Darby Gerga