CBL Wealth Management’s Business Continuity Planning
CBL Wealth Management 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 by dialing or texting 760-214-9146 or by emailing Chris@CBLWealthmanagement.com you should try our alternative number 760-983-3001 or go to our website at www.CBLWealthManagement.com for more information. If you cannot access us through either of those means, you should contact our primary custodian, Charles Schwab & Co., Inc at www.schwab.com/contact us OR www.schwaballiance.com 1-800-435-4000 (or 1-800-515-2157) for instructions on how they may assist in providing prompt access to your funds and/or enter trades as requested
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 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 backup 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 primary custodian, Charles Schwab & Co., Inc, backs up important client 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 primary custodian that its objective is to restore its own operations and be able to complete existing transactions and accept new transactions and payments with minimal delay. Your orders and requests for funds and securities could be delayed during this period.
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 within 3 days. 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 5 days. In either situation, we plan to continue in business, transfer operations to our primary custodian if necessary, and notify you through our website www.CBLWealthManagement.com or our customer emergency number, 760-214-9146 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.
Our firm’s complete BCP document can be viewed here.
For more information – If you have questions about our business continuity planning, you can contact us at 760-214-9146 or Chris@CBLWealthmanagement.com.
These materials have been independently produced by CBL Wealth Management. CBL Wealth Management is independent of, and has no affiliation with, Charles Schwab & Co., Inc. or any of its affiliates (“Schwab”). Schwab is a registered broker-dealer and member SIPC. Schwab has not created, supplied, licensed, endorsed, or otherwise sanctioned these materials nor has Schwab independently verified any of the information in them. CBL Wealth Management provides you with investment advice, while Schwab maintains custody of your assets in a brokerage account and will effect transactions for your account on our instruction.