Business Continuity Plan
Advisors Preferred LLC (Advisor’s Preferred) maintains a Business Continuity Plan ("BCP") that provides a course of action for the assessment of a significant disruption to firm business and for the continuation of firm business following such an event. The BCP outlines the steps that Advisors Preferred will take to address disruptions to its normal business and assigns responsibility for the assessment of business disruptions and for the execution of business recovery procedures aimed at the resumption of normal business. The BCP is designed to address significant business disruptions of varying scope including, but not limited to:
- Disruptions to specific business procedures or systems
- Advisors Preferred-only business disruptions
- Disruptions to Advisors Preferred’s main office facility
- Regional business disruptions
In each of these scenarios, Advisors Preferred’s BCP provides for an evaluation of the scope of the business disruption, and sets forth various plans of action, including re-deployment of personnel to disaster recovery and other alternative facilities for the continuation of the firm's business and alternative means for the dissemination of information to and communication with the firm’s employees, clients, service partners and regulators. The BCP serves as a guide that addresses how Advisors Preferred will continue to conduct business during each of the above scenarios.
It is Advisors Preferred’s intention to minimize the recovery time necessary to resume operations. The majority of computer systems upon which Advisors Preferred relies to conduct business are maintained by Advisor’s administrator, clearing brokers and other external service providers. These systems are hosted at secure sites that are remote from Advisors Preferred’s business offices and are, for the most part, internet accessible.
In the unlikely event that Advisors Preferred is unable to continue business at its main facility following a significant business disruption; designated personnel would oversee and direct how the firm would proceed. Advisors Preferred’s disaster recovery site is tested regularly in order to ensure to minimize the recovery time that may attend any significant business disruption. Advisors Preferred’s BCP is subject to modification based on changing circumstances and assessment of need. The BCP is reviewed periodically, and approved annually by a principal of the firm.