To conduct a legitimate test of your backup system, simply viewing the backed up files on a removable hard drive is not enough. A good practice would be to create a test once a year where, for all your mission-critical applications, you run your business using the backup files as the primary data source. This should be done with your portfolio management, contact management, and imaging systems, along with any other applications that are critical to your business. Running these tests might take a little more time, but it is definitely worth it to confirm that your backup process is operating correctly. Do it now; don't wait.
Access complimentary resources from Cambridge Investments to help navigate the fiduciary rule changes.
If you’re thinking of changing broker-dealers, you owe it to yourself to read this article that covers all major aspects of the transition process.
This White Paper outlines the immediate actions firms can take to correct outdated and costly supervision procedures.
Sep 27, 2016
Some broker-dealers have already decided to exit certain lines of business and are sizing up how the rule will impact their IT and compliance budgets....
Sep 20, 2016
This webcast will review the key aspects of the amendments and the steps that funds and intermediaries can take in order to comply with the...
Sep 13, 2016
Nationwide is providing a deeper look into the rule’s implications and a discussion of decisions firms will need to make in order to comply.