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.
ThinkAdvisor's TechCenter is an educational resource designed to give you a competitive edge by keeping you abreast of new tech innovations and need-to-know information that can be applied to your business.
Are you prepared to address the regulatory obligations? Learn how to gain that extra level of security.
Download our latest white paper and tax planning guide. We talk about the building blocks of a comprehensive tax management strategy and the future of...
Read our outlook to help find opportunities amid uncertainty in 2017. Our market strategists offer views on the economy and the stock and bond markets....
Jan 31, 2017
For many, the New Year means new technology being implemented at the practice. One of the biggest challenges facing advisory firms today is getting the...
Dec 13, 2016
Join this complimentary webcast that will provide a deeper appreciation for these client segments and their needs, and show how advisors can offer protection and...
Dec 08, 2016
Join this complimentary webcast to hear best practices and next steps for operating effectively in the face of fiduciary regulations.