Business Continuity Plan Summary
In recognition of the potential for significant business disruptions that may result from large-scale disasters, Advisory Services Network, LLC (“ASN”) has created a Business Continuity Plan (the “Plan”) to help minimize the impact that such disruptions might have to its business operations. The Plan is designed primarily to address those functions ASN deems to be “mission critical” and includes:
- Ensuring the physical safety of ASN employees and investment advisory representatives (“IARs”);
- Data back-up and recovery (both hard copy and electronic);
- Communications between ASN, its IARs, and clients;
- Communications between ASN and the custodians that hold the investment assets of its clients;
- Ensuring that clients have access to their investment assets;
- Communications between ASN and its critical business constituents (i.e., banks, service providers, vendors, etc.); and
- Communications between ASN and federal and state regulatory organizations.
Should ASN be affected by a significant business disruption, ASN will take steps to promptly notify clients of the nature of the disruption and its affect on ASN operations, the steps being taken by ASN to address the disruption, and an estimate of the amount of time it will take for ASN to resume operations. The manner in which this communication will occur will depend on the specific disruption experienced and its impact on the communication options available.
As ASN’s IARs are geographically dispersed, significant business disruptions may affect individual IARs. ASN has established mechanisms to ensure that both it and its IARs have access to sufficient information about each client to provide continuing service should one or the other be affected by a disruption.
ASN utilizes the custodial services of Fidelity, TD Ameritrade, Pershing and Charles Schwab for the accounts of our clients. Clients may communicate directly with these custodians at the following phone numbers or via their websites for access to your account, including the acceptance of buy and sell orders and issuance of funds:
Because of its reliance on its custodians and service providers, ASN has taken steps to ensure that they have established their own Business Continuity Plans. ASN will communicate to clients any disruptions to the business activities of these entities that could affect the service ASN provides.