Business Continuity Planning

Carolinas Investment Consulting LLC has developed a 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 on our business continuity plan.

Contacting Us – After a significant business disruption, you may contact us by telephone as you usually do at 704-643-2455 or 800-255-2904, or on our web site at www.carolinasinvest.com. In the event of telephone line disruption, we have made arrangements for our telephones to be forwarded to an alternate number.  Likewise, our website may be accessed from an alternate site. As a client of Carolinas Investment Consulting LLC, we recognize you may need access to your account to sell a position or request a check before we can re-establish telephone or other communication services with you.  During this time, you may reach out directly to the clearing firms who have custody of your accounts, either First Clearing* or Charles Schwab & Co.

Clients with accounts at First Clearing may contact them for assistance with sell or liquidation orders and to provide check disbursements, as required.  If you cannot contact our firm by any means, please call First Clearing for assistance at 877-496-3223. You may visit their plan on our website: First Clearing Business Continuity Plan.

Clients with Charles Schwab accounts may place trades, obtain balance and positions information, as well as request disbursements by calling the Schwab Alliance team at 800-515-2157.

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 back-up 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.

The clearing firm First Clearing, regularly backs up its important information 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, First Clearing has a thorough Business Continuation Plan in place.  First Clearing has advised us that its objective is to restore its own operations in order to complete existing transactions and accept new transactions and payments in a timely manner.

The clearing firm Charles Schwab & Co., Inc. has a comprehensive business continuity program in place, which is reviewed, updated and tested on a regular basis. The program provides for continuation of client service within minutes in most cases.

Varying Disruptions – Significant business disruptions can vary in their scope, such as only our firm, a single building or unit housing our firm, the business district where our firm is located, the city where we are located, or the whole region. 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 business within a few hours. 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 business within a day. In either situation, we plan to continue in business, transfer operations to our clearing firm if necessary, and notify you through our web site or our customer emergency number, how to contact us. If the significant business disruption is so severe that it prevents us from remaining in business, we will assure our customer’s prompt access to their funds and securities.

For more information – If you have questions about our business continuity planning, please feel free to contact us at 800-255-2904.

 

*First Clearing is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.