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Disclosure and Continuity Plan
AVO Financial’s broker-dealer Stonehurst Securities, Inc. has developed a Business Continuity Plan on 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 on our business continuity plan.
Contacting Us – If after a significant business disruption you cannot contact us at our Folsom, California corporate office at 1-916-932-2870, you should call your Stonehurst Securities registered representative at the representative’s office number. If you cannot access us through any of those means and you need to talk to someone about your account or need access to your funds and securities, please refer to the list below for the contact information for your particular investment account or product.
If you have a brokerage account held by our clearing firm, Wedbush Morgan Securities, you should contact WMS at 1-888-933-2874 for instructions on how they may assist you to access your funds and securities, place trades or process any other account maintenance or servicing needs.
If you hold assets directly with a mutual fund or variable annuity company (away from our clearing broker-dealer), you should contact that company directly for instructions on how to access your funds and securities, place trades or process any other account maintenance or servicing needs. Information on how to contact the company can usually be found on the monthly or quarterly statement sent to you by the custodian of your account assets.
Companies with whom you have securities investment accounts are required to provide you with Business Continuity Statements that give information on how to contact the company in the event of a significant business interruption. If you have not already received a Business Continuity Statement from any company holding an account for you, we recommend that you contact the company to request the statement so that you have it on hand.
Our 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 firm’s books and records, and allowing our customers to transact business. In short, our business continuity plan is designed to permit our firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption.
Our business continuity plan addresses: data backup and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring our customers prompt access to their funds and securities if we are unable to continue our business.
Other securities broker-dealers with whom we do business and with whom you may have an account, are required to maintain business continuity plans also. While every emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption, our clearing firm has advised us that its objective is to restore its own operations and be able to complete existing transactions and accept new transactions and payments according to their time criticality. Your orders and requests for funds and securities could be delayed during this period.
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 our firm is located, the city where we are located, the whole region or an entire business segment such as when the market was closed following the September 11 tragedy. 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 critical business functions within one day. In a disruption affecting our business district, city, or region, we will transfer our operations to a site outside of the affected area, and recover and resume critical business functions within one to three days. In either situation, we plan to continue in business, transfer operations to our clearing firm if necessary, and notify you through our web site, www.stonehurstsecurities.com or with a message you can listen to by calling, 1-916-932-2870, describing how to contact us or your investment account custodian. If the significant business disruption is so severe that it prevents us from remaining in business, we will assure our customers’ prompt access to their funds and securities.
Please note that Stonehurst Securities business continuity plan is reviewed as necessary, and at least annually, to ensure it accounts for technology, business and regulatory changes, operations, structure or location. The plan is subject to modification. An updated business continuity statement for clients will be promptly posted on Stonehurst Securities web site. You may also obtain a current written copy of the updated statement by contacting Stonehurst Securities, Inc. directly.
For More Information – If you have questions about our business continuity planning, you can contact us at 1-916-932-2870.
Note: Broker-dealers are required to disclose any material arrangements with the venues listed in each section below, including, but not limited to, any internalization or payment for order flow arrangements.
STONEHURST SECURITIES, INC.
101 PARKSORE DRIVE, SUITE 100
FOLSOM, CA 95630