Northwest Financial Advisors (NWFA) is committed to providing timely service to our clients. We recognize the importance of preparing for various disaster scenarios that could hinder our ability to provide such service. NWFA has taken aggressive steps to provide for disaster recovery and business continuity planning under a variety of potential scenarios. We continue to update our continuity plans and expand our resources to provide for such recovery and timely resumption of critical business operations.
NWFA Preparedness
Client accounts with Northwest Financial Advisors are custodied with LPL Financial. You can find LPL Financial’s Business Continuity Plan Summary on LPL’s website by clicking the following: LPL Business Continuity Plan (external link) or by visiting LPL’s website.
If NWFA loses the ability to perform business at any of our office locations, we have enabled our staff to work at alternate office locations. Our plan ensures the continual safeguarding of client information and protection of the firm’s books and records. We have plans in place for a quick recovery and resumption of operations after any significant business disruption.
NWFA’s data is backed up daily and stored offsite. Since NWFA is a subsidiary of NW Capital Management, a wholly owned subsidiary of Northwest Federal Credit Union, we work very closely with various departments within the credit union to ensure continuity and rapid recovery.
NWFA will communicate a significant business disruption via our website www.nwfllc.com or by email from contact@nwfllc.com. Updates on the status of the recovery of systems and operations will be communicated promptly on our site. If necessary, our IT support will re-route phone lines so that calls from our clients will continue to be serviced. Clients may also contact LPL directly at 1-800-877-7210 for account information. We also have alternate communications set up between our firm and staff. FINRA and the SEC will be contacted as well to inform them of any significant business disruption.
Please note that our office generally follows OPM’s dismissal and closure procedures in times of severe weather.
Conclusion
Please be aware that while we have detailed plans in place, we may not be able to implement a plan during a disaster as quickly as we expect. Additionally, if parts of our plan are dependent upon third parties, we will have no control over the success or failure of the third party to respond appropriately to the challenges posed at the time of the disaster. Our continuity plans are periodically tested and subsequently modified when needed.
