What does your firm do if you must evacuate your office for a couple of days or even weeks? One of the best ways to approach this in the short term is to develop a reciprocal arrangement with another advisory firm where you can share resources in the event that a disaster strikes. For example, for some firms that have a greater potential to be evacuated (because of hurricanes, for example), they have identified another firm, perhaps further inland where a storm is less likely to affect them, that can help support their temporary relocation needs. This might be as simple as just using the other firm's conference room for a couple of days until the displaced firm can get back in their office or find a new location. Be sure to select a firm that uses similar systems as your firm (e.g., portfolio management, contact management, trading, custodian, etc). Of course, you will keep your confidential data separated, but using the systems just helps reduce some of variables in re-establishing your programs.
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This White Paper outlines the immediate actions firms can take to correct outdated and costly supervision procedures.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.