Windows 10 End of Life: Migration Guide for Asset Managers, Hedge Funds, Private Equity and other Financial Services Firms

Windows 10 end-of-life defined

The Windows 10 EOL means that Microsoft will officially discontinue support for the operating system (OS) as of October 14, 2025. To quote Microsoft, this means the OS “will no longer receive quality updates, new or updated features, security updates, or technical support.”

Windows 10 is running on countless desktop and laptop computers in business offices around the world. As such, this is a major end-of-life event—and asset managers, hedge funds, and private equity firms should approach it with due seriousness.

Potential impact of the Windows 10 EOL 

Windows 10 will still function after the October 14 cutoff. But for several reasons, running an unsupported operating system is deeply unwise:

Cybersecurity: Once the EOL date is reached, devices running Windows 10 will not receive additional security patches. If a new vulnerability is discovered, computers running on unpatched operating systems will be open to attack.

Compliance: Firms that knowingly run obsolete software—risking breaches and data loss—may be in direct violation of their compliance obligations. And while cybersecurity compliance is a perennial concern, it’s now more relevant than ever in light of the new SEC rules on cyber incident disclosure and preparedness.

Compatibility: IT teams and everyday system users may begin to experience compatibility and performance issues with other software and systems that no longer support Windows 10—leading to inefficiency and operational disruptions.

Migration options for firms using Windows 10

There are several migration pathways that financial firms should consider. Leadership should evaluate their options and choose the upgrade path that is right for their business:

Migrate to Windows 11: This is Microsoft’s recommended upgrade option. It gives users access to Microsoft’s most modern OS, enhanced security, and the promise of long-term support. But there is one caveat: older PCs may not meet the exacting hardware requirements for Windows 11. Before deciding to migrate directly to Windows 11, IT teams must first conduct an inventory of existing hardware assets in order to determine the cost and feasibility of migration—and develop a hardware provisioning plan and budget if needed.

Migrate to Azure Virtual Desktop or Windows 365: Microsoft’s cloud-based desktops can be an excellent choice for some firms, or even for subsets of users within a larger organization.

• Azure Virtual Desktop (AVD) shifts employee desktop environments to a shared cloud environment. AVD delivers a complete and cost-effective Windows 11 experience via a virtualized desktop accessible from anywhere—and can help reduce everyday IT management challenges as well.
• Windows 365 (W365) is another Microsoft offering that creates a ‘cloud PC’ for each user as a dedicated instance of a Windows virtual machine. This gives every employee unlimited access to their workstation and the apps and services they need.
• Windows 365 is especially worth considering for organizations that do not want to upgrade to Windows 11 for whatever reason—for example, because they have invested significant time and effort in developing Windows 10-based workflows, macros, and scripts—because it’s possible to use W365 to create virtual Windows 10 PCs that include extended security support.
• Cloud-based desktop environments are ideal for many users, but as with any cloud technology, extensive testing and planning are required ahead of deployment in order to assess potential connectivity and latency issues and ensure that operations will not be adversely impacted.

Purchase Extended Security Updates for Windows 10: Microsoft has an Extended Security Updates (ESU) program that enables businesses to use Windows 10 for up to three years beyond the official EOL date—for a cost and with some serious limitations. ESU provides critical security updates as needed. However, ESU subscribers will not receive new OS features, non-security updates, or general support. In addition, users may experience compatibility issues with other apps and services outside of the Microsoft product ecosystem since those developers are no longer obligated to support Windows 10.

Customized Migration: It’s also possible to craft a tailored migration plan that combines the options mentioned above, enables phased migrations, and factors in operational and industry-specific concerns. In some ways this is the “ideal” option, in that there is never a one-size-fits-all migration plan for any organization. However, it is also the most complex migration path and should only be attempted by businesses with highly skilled IT teams or access to an experienced technical services partner.

Special considerations for investment businesses

Buy-side investment businesses face a few unique challenges around the Windows 10 EOL, and these should be factored into any migration decision and planning:

Challenge: Migration always carries the risk of outages and unexpected problems.  However, operational disruptions are unacceptable in a fast-paced trading environment, as they can incur heavy costs and strain relationships with clients.

Solution: Careful planning is essential to mitigate these risks and minimize the chances of an unexpected setback during migration. A robust migration plan will include a thorough inventory and analysis of the IT environment and all relevant dependencies, rigorous testing, contingency planning, and backups.

Challenge: The regulatory burden in finance is far heavier than in other industries. Firms working on migrations with generalist IT consultants must ensure that their service providers understand the relevant legal and compliance requirements.

Solution: Clearly communicate industry-specific security, reporting, and governance obligations to IT service providers ahead of time—and be sure to include such considerations in the formal scope of work.

Challenge: Investment businesses rely on tools, platforms, applications, and protocols seldom seen in other industries. Integrating these solutions with the Windows OS can be challenging. IT consultants that lack experience in finance may struggle with integration—and in a worst-case scenario, may accidentally knock critical systems offline.

Solution: If an internal IT group is handling the migration, the most experienced team members should conduct a thorough review of non-standard software applications in the environment to ensure that they will integrate well with the upgraded OS. Firms looking to work with an outside IT consultant should seek a partner with extensive experience in the financial space.

Getting help with your Windows 10 migration

Linedata has helped numerous asset managers, private equity firms, and hedge funds with their migrations and digital transformation projects. A specialist in providing IT services to the financial industry, Linedata is well-positioned to help you navigate the Windows 10 EOL successfully.

Learn more about our Technology Services offering, which includes migration services, cybersecurity, and a full MSP offering.

Girish Khilnani co-heads Linedata’s Technology Services business, which includes Public and Private Cloud, Cybersecurity, and Managed Services. He’s spent nearly two decades managing IT infrastructure, cloud, and global service delivery teams to provide leading-edge solutions for financial institutions. Girish is passionate about enabling operational excellence that supports the specific requirements of hedge funds, private equity, and asset managers.