Guilbert said solution providers, especially those with advanced security tools, can find lucrative, long-term opportunities in the financial sector, but it's a demanding gig, for both SPs and their clients.

Eze Castle's employees are regularly tested on different security scenarios, they also play a key role in helping financial firms develop their cybersecurity plans.

But even doing that isn't quite enough, Guilbert said, without the right people in place at both the solution provider and the client firm.

"You have to have the right individuals in place," Guilbert said. "And funds have to put forth the right individuals in their organization," a process solutions providers can play a role in.

Regular reports and updates generated by security monitoring solutions can be eye-opening, but the correct action won't be taken if those reports are simply stacked on a shelf.

Here are some of the key points from the SEC and FINRA reports:

• 93 percent of broker-dealers and 83 percent of investment advisors have adopted written information security policies.

• 57 percent of investment advisors conduct periodic audits to determine compliance with these procedures.

• The vast majority of broker-dealers (93 percent) and investment advisors (79 percent) conduct periodic risk assessments to identify cyber threats and vulnerabilities.

• FINRA identified the top three cyber threats as:

• Hackers penetrating firm systems;

• Insiders compromising firm or client data; and

• Operational risks.

The report indicates that FINRA expects firms to consider the principles and effective practices presented in the report as they develop or enhance their cybersecurity programs. Those principles include:

• Dedication to cybersecurity from firms’ upper management and executives;

• Development and implementation of risk assessment and cyber threat response plans;

• Maintaining a well trained staff to identify, prevent and combat cyber threats; and

• Collaborating with other firms to share intelligence regarding cyber threats.