Business Continuity Plan

Financial Concepts » Business Continuity Plan

Financial Concepts has developed a Business Continuity Plan on how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you with this information on our business continuity plan.

Contacting Us– If after a significant business disruption, you cannot contact us as you usually do at 662-327-1480 you should call the special emergency toll free number, 1-877-628-5398. This number doesn’t ring in our office like our toll-free number for clients that live out of our area because our office may become damaged in a natural disaster. The number goes to a special service that notifies us of your contact via a call to our cell phone, or a voice mail message on a special website. Through this service, we will post messages to you about where to contact us. We will get your messages and contact you as soon as possible.

Our Business Continuity Plan– We plan to quickly recover and resume business operations after a significant business disruption and respond by safeguarding our employees and property, making a financial and operational assessment, protecting the firm’s and client’s books and records, and allowing our clients to transact business. In short, our business continuity plan is designed to permit our firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption.

Our business continuity plan addresses: data backup and recovery; all mission critical systems; financial and operational assessments; alternative communications with clients, employees, and regulators; alternate physical location of employees; critical supplier, regulatory reporting; and assuring our clients prompt access to their funds and securities if we are unable to continue our business.

Our records are consistently backed up daily to two geographically separate areas. While every emergency situation poses unique problems based on external factors, such as time
of day and the severity of the disruption, we have been advised by our provider that our records can be restored in the event of a catastrophic loss.

Varying Disruptions – Significant business disruptions can vary in their scope, such as only our firm, a single building housing our firm, the business district where our firm is located, the city where we are located, or the whole region. Within each of these areas, the severity of the disruption can also vary from minimal to severe. In a disruption to only our firm or a building housing our firm, we will transfer our operations to a local site when needed and expect to recover and resume business as soon as possible. In a disruption affecting our business district, city, or region, we will transfer our operations to a site outside of the affected area and recover and resume business as soon as possible. In either situation, we plan to continue in business, and notify you how to contact us.

For more information– If you have questions about our business continuity planning, you can contact us at 662-327-1480.

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