Just spent the last couple of days at the SSG Conference here in San Diego. There was a lot of discussion and a panel about Business Continuity/Succession Planning. I thought it might be helpful to post some minimum requirements for a Business Continuity Plan.
- Who would wind down the business in the event of your death or incapacity
- Who would notify the clients
- How will the client accounts continue to be monitored until an orderly liquidation, distribution or transfer of client portfolios is achieved
- How will credit demands of the firm be met
- Data backups sufficient to allow rapid resumption of the investment advisor’s activities