Disaster Recovery Plan
While we attempt to avoid and safeguard our practices from business disruptions, we recognize that there is always potential for a disaster that may inhibit business operations. To guard against a possible disaster, we feel it is imperative to protect our clients, their information, and our team members.
The Importance of Our Business Continuity Plan:
Since the terrorist activities of 9/11/2001, all advisory firms need to establish a written disaster recovery and business continuity plans for the firm's business. This will allow advisers to meet their responsibilities to clients as a fiduciary in managing client assets, among other things. It also allows a firm to meet its regulatory requirements in the event of any kind of an emergency disaster, such as a bombing, fire, flood, earthquake, power failure or any other event that may disable the firm or prevent access to our office.
Preparation for a disaster implies more than simply a one-time effort to create a plan document. Abundance's Business Continuity Plan is designed to react to any type of business disruption, from a short power outage, to the loss of our entire building. The purpose of our plan is to ensure that we recover in a timely and efficient manner, and that we emerge from the disaster as a viable corporate entity.
Our Business Continuity Strategy:
- An Analysis of Critical Business Functions
- Following Data Back-up Procedures
- A Physical Recovery Plan
- Designated Disaster Recovery Facilities
- Regularly Testing our Business Continuity Plan
- Conducting Annual Maintenance
Communication:
Our clients will be notified of a business disturbance at Abundance's earliest opportunity. Clients will be informed of the severity of the disturbance and will also receive information concerning our actions to rectify the situation.
