Last Updated: June 2015
Financial Perspectives, Inc. (“FP”, “We”, “Us”, “Its”, or “Our”) 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.
If after a significant business disruption you cannot contact us as you usually do at (763) 553-7779, you should call our alternative number (877) 553-7781, email us at compliance@fpwealth.com, or go to our website at www.fpwealth.com. If the business disruption is limited to FP’s local area of Minneapolis, Minnesota, you may access your funds and securities directly with any of the following:
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 books and records, and allowing our customers 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 back up and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring our customers prompt access to their funds and securities if we are unable to continue our business.
Our custodial firm, NFS, backs up our important records in a geographically separate area. 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 clearing firm that its objective is to restore its own operations and be able to complete existing transactions and accept new transactions and payments within four hours of a local, non-severe business disruption. Your orders and requests for funds and securities could be delayed during this period.
It is important to note, however, that the scope and effect of a local or regional disruption can vary significantly, and certain elements of our and our custodian’s recovery plans may require a longer recovery period and your requests for funds or securities could be further delayed. During a business disruption, we will continually evaluate, estimate, and communicate the recovery time necessary to resume operations. FP’s recovery plans place a high priority on preserving this capability to support our commitment to provide you with prompt access to your funds during a significant business disruption.
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 within four hours. 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 within several hours. In either situation, we plan to continue in business, transfer operations to our clearing firm if necessary, and notify you through our web site www.fpwealth.com or our customer contact number, (877) 553-7781, about how to contact us. If the significant business disruption is so severe that it prevents us from remaining in business, we will assure our customer’s prompt access to their funds and securities.
FP will adhere to the procedures described in its business continuity plan and described above to the extent commercially reasonable and practicable under prevailing circumstances. There are, however, an incalculable number of events or circumstances that could result in a significant business disruption and their impact may vary greatly in size, scope, severity, duration, and geographic location. Further, significant business disruptions may result in varying degrees of harm to human life and regional or national infrastructure (power, transportation, communications, etc.) which could affect the firm’s recovery in significant and different ways.In light of this, FP, in its sole discretion, reserves the right to flexibly respond to any disruption in a situation-specific and prudent manner. Nothing in this disclosure document is intended to provide a guarantee or warranty regarding the actions or performance of the firm, its computer systems, or its personnel in the event of a significant business disruption.
If you have questions about our business continuity plan, you can contact us by writing to Financial Perspectives, Inc., 3025 Harbor Lane N, Suite 200, Minneapolis, MN 55447, or by calling us at (877) 553-7780.