Compass Advisors, LLC and our affiliate, CAI Compass Institutional Services, LLC have developed a Disaster Recovery and Business Continuity Plan to address how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, we are providing you with this information regarding our Disaster Recovery and Business Continuity Plan (the “Plan”).
Contacting Us – If after a significant business disruption you cannot contact us as you usually do at our Miami, Florida office location, 305-461-1681 or our Portland, Oregon office location, 503-241-7058, you should first try the main office line at the office location you do not ordinarily communicate with or go to our website at www.compassadv.com . If you cannot access us through any of these alternatives, you should contact the custodian of your accounts directly. If you have custodial accounts at Fidelity Investments, you may contact Fidelity directly at 1-800-544-6666 or www.fidelity.com. If you have a custodial account at Charles Schwab & Co., Inc. you may contact Schwab directly at 1-800-515-2157 or www.schwab.com. If you have a custodial account at TD Ameritrade, you may contact TD directly at 1-800-669-3900 or www.tdameritrade.com. If you are a customer of CAI Compass Institutional Services, LLC and have an account at RBC Dain Correspondent Services, you should contact RBC directly at 1-612-607-8903 or www.rbcdaincs.com. Additional contact information for Fidelity, Schwab, TD and RBC will be posted on our website, www.compassadv.com, as soon as practical after a significant business disruption.
Our Disaster Recovery and Business Continuity Plan – We plan to quickly recover and resume business operations after a significant business disruption and respond by safeguarding our employees and property, making a financial and operational assessment, protecting the firms’ books and records, and allowing our customers to transact business. In short, our business continuity plan is designed to permit our firms to resume operations as quickly as possible, given the scope and severity of the significant business disruption.
Our business continuity plan addresses: data back-up and recovery; all mission critical systems; financial and operational assessments; alternative communications with clients, customers employees and regulators; alternate physical location of employees; critical supplier, contractor, bank and counterparty impact; regulatory reporting; and assuring our clients and customers prompt access to their accounts, funds and securities if we are unable to continue our business.
Our mission critical vendors have provided us with assurances that they back up their records, including records related to our businesses, in a geographically separate area. While every emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption, we have received assurances from each of our mission critical vendors that their objective is to restore their own operations and be able to complete existing transactions and accept new transactions and payments as soon as practical after a significant business disruption. At this time, the longest recovery time for any of our mission critical vendors is 5 hours, and the longest resumption time for any of our mission critical vendors is 48 hours.
Varying Disruptions – Significant business disruptions can vary in their scope, such as only our firm, a single building housing our firm, the business district where one of our offices is located, the city where one of our offices is located, or the whole region where one of our offices is located. Within each of these areas, the severity of the disruption can also vary from minimal to severe. In a disruption to only our firm or a building housing our firm, we will transfer our operations to a local site when needed and expect to recover and resume operations within 24 hours. In a disruption affecting any business district, city or region where we maintain offices, we will transfer our operations to a site outside the affected area, and expect to recover and resume business within 48 hours. In either situation, we plan to continue in business, transfer operations to one of our mission critical vendors, if necessary, and notify you through our website, www.compassadv.com, how to contact us. If the significant business disruption is so severe that it prevents us from remaining in business, we will assure our clients and customers prompt access to their accounts, funds and securities.
For more information – If you have questions about our disaster recovery and business continuity planning, you may contact us at 305-461-1681 or 503-241-7058.