EFS Advisors LLC, a Minnesota-based investment advisory firm specializing in retirement planning services, recently experienced a data breach. Founded in 1989, EFS Advisors provides comprehensive retirement solutions to educators, government workers, and non-profit employees, with a strong focus on state pension and 403(b) plans. Headquartered in Cambridge, Minnesota, and employing over 50 individuals, EFS Advisors is committed to delivering the best tools and resources for their clients.
The breach was discovered on May 9, 2024, and it was determined that an unauthorized actor had potentially accessed sensitive personal identifiable information on or about February 22, 2024. EFS promptly initiated an investigation and began notifying the affected individuals on May 20, 2024. The compromised information includes names and Social Security numbers, which could pose significant risks to the impacted individuals.
A total of 31,042 individuals were affected by this breach, including four residents of Maine. Due to the large number of affected individuals, consumer reporting agencies have been notified. EFS Advisors, with the assistance of cybersecurity experts, is taking measures to enhance their security protocols to prevent future breaches.
EFS Advisors is working diligently to support those affected and is providing resources to help them protect their identities. Individuals who may have been impacted are encouraged to take necessary precautions and monitor their personal information for any unusual activity. EFS Advisors remains committed to transparency and ensuring the security of their clients’ personal data.
