Adirondack Financial Services

Business Continuity Plan Summary

Updated as of July 28, 2008

 

Adirondack Financial Services Corp. (AFS) is committed to safeguarding the interests of our clients and customers in the event of an emergency or significant business disruption.

 

We have developed a Business Continuity Plan (BCP) to address how we will respond to events that would significantly disrupt our business. Since the timing, scope, and impact of any interruption or natural disaster is unpredictable, we will have to be flexible in responding to actual events as they occur. With that in mind, this is a summary of our BCP plans.

 

Contact - If you are unable to contact your independent registered representative during and/or following a significant business interruption, you may contact Patricia Rugari at 315-624-2624 or 315-724-4186 or email us at prugari@adkfinancialservices.com. If these numbers are not available, you may try to contact the individual fund or insurance company with whom you have placed your investments if you need prompt access to your funds or to your investment information. Those phone numbers and website addresses can be found on your most recent statement.

 

Our Plan - We plan to be able to recover and resume business operations quickly after a significant business interruption. We can do this due to our efforts to safeguard our employees and property, assess financial and operational abilities, protect the firm's books and records, and allow our clients to transact business.

 

The plan addresses data backup and recovery (backed up in three geographical locations), mission critical systems; financial and operational readiness; alternative communications with clients, employees, independent registered representatives, and regulators; critical supplier, contractor, and banking relationships; regulatory reporting; and assuring our customers prompt access to their funds in the event that we are unable to continue our business.

 

The mutual fund families and insurance companies with whom we do business also back up many client records in a geographically separate area from our firm. We also have additional back-up assistance from data clearinghouses. These companies are also geographically separate from our firm.

 

Significant Business Disruptions (SBDs) - Our plan anticipates two kinds of SBDs, internal and external. Internal SBDs affect only our firm's ability to communicate and do business, such as a fire in our building. External SBDs prevent the operation of the securities markets or a number of firms, such as a terrorist attack, a city flood, or a wide-scale, regional disruption. Our response to an external SBD relies more heavily on other organizations and systems, especially on the capabilities of our clearing firm.

 

Disclaimer - The Firm's comprehensive business continuity strategy is designed to enable us to meet our existing obligations to our clients and customers even in the event of an emergency or significant business disruption; however it is not infallible. The plan is designed to work in many different emergency situations; but these events are, by their nature, unpredictable and it is impossible to anticipate every scenario that could cause a business disruption. Furthermore, although we are confident in our own preparedness, AFS has no control over the various entities that we must rely upon in the event of an emergency. Our business continuity plans are tested periodically to ensure readiness; yet such tests may not be able to replicate the actual conditions we experience in a real emergency. This BCP is subject to change without notice. In the event that this BCP is modified, the updated document will be promptly posted on our internet website. The information contained in this disclosure is provided by AFS for informational purposes only. Nothing contained herein shall be construed to amend, supplement or otherwise modify any of the terms and conditions set forth in any customer agreement between you and AFS.

 

If you have further questions about our plan - If you have any additional questions, please feel free to contact us at 315-724-4186

 

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