Broker Check
COVID-19 & Business Continuity

COVID-19 & Business Continuity

| March 12, 2020
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At Wagner Advisory Group, the health and safety of our clients and staff is of vital importance. Our team and the FSC Securities Corporation home office is closely monitoring the Centers for Disease Control and Prevention and the World Health Organization’s statements regarding the novel coronavirus (COVID-19). Should a quarantine be required, rest assured that a Business Continuity Plan is ready for activation.

 

Before we dig into the details of our Business Continuity Plan, let's discuss current market volatility.

 

Market Volatility Key Takeaways by American Funds/ Capital Group CEO Tim Armour

  • “News of the continued spread of coronavirus — and the recent plunge in oil prices — has sent stocks plummeting toward bear market territory, and bond yields have reached unprecedented lows.”
  • “While the virus represents a new challenge, there is nothing new about market volatility. Markets have survived viral outbreaks in the past.”
  • “Investors who can look past the current environment and stay the course can benefit over the long run.”

 

You may read the full article “Weathering the Coronavirus” here.

 

Our Business Continuity Plan – We plan to seamlessly transition into utilizing remote workstations for Cathy and all team members in the event of a quarantine. 

 

  • 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; regulatory reporting, and assuring our client's prompt access to their funds and assets.

 

Data & Security – Our firm has several safeguards in place to protect against cybersecurity threats in our office as well as our remote workstations.

 

  • Our firm does not maintain custody of customers’ funds or securities in office. Any pending account paperwork located on-site will be securely locked. Our firm automatically backs-up all electronic records (encryption 128-bit SSL) from our server hourly to a third-party service provider. This facility also utilizes RAID 6 redundant storage technology throughout its data centers. Additionally, all client account-related documents are electronically located in a SAS 70 audited data center in a US Safe Zone in southern Nevada.

 

  • Through our broker-dealer, FSC Securities Corporation, we can take advantage of industry-leading cybersecurity and privacy protocol. One part of our comprehensive CyberGuard Program is an automated security auditing tool that continually assesses the technical security controls on all our firm’s devices and alerts us to any security issue. 

 

Contacting Us – We will still be available via email or phone on our mainline, 727-789-3691. Voicemails will be checked on an hourly basis during regular business hours.

 

  • In the unlikely event of a disruption that affects our firm’s ability to communicate and do business, clients are advised to contact the custodian firm holding their investment assets. All client assets are held at a custodian broker-dealer (FSC Securities Corporation, who clears through Pershing LLC) or non-brokerage company. You may contact our broker-dealer, FSC Securities Corporation, directly should the need arise at 1-800-552-3319. 

 

Stay safe and healthy.

All good wishes,

Cathy Wagner and the team at Wagner Advisory Group

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