Business Continuity Planning
Girard Investment Services, LLC (“Girard” or “the Firm”), in coordination with its parent company Univest Financial Corporation, has developed a comprehensive business continuity plan (“the Plan”) that is designed to ensure that the Firm is prepared to continue providing service to our clients in the event that the Firm experiences a significant disruption of any kind to its business operations. The Plan addresses business disruptions of varying severity and scope and takes into consideration our critical third-party relationships.
Although it is impossible to anticipate every scenario, we believe that our plan should enable us to resume doing business upon the occurrence of those events that are most likely to affect our primary business location. This is accomplished by the following:
- Relocating impacted employees to designated recovery locations.
- Using redundant processing capacity at other locations.
- Technology and systems designed to support the recovery of critical business functions.
- A team that is responsible for activating and managing the recovery process.
- Adopting a communication plan to ensure that Firm employees receive emergency notifications and instructions via a variety of sources, including telephone, email and/or website notifications.
- Reviewing our recovery procedures on a periodic basis.
If a disruption is significant enough to affect the entire organization including the Firm and its parent company, the Firm has arrangements in place with a third party to provide access to a back-up facility that is separate and distinct from the firm and is complete with space for key employees as well as telephones, computers, and other necessary hardware to continue business operations.
Although the Firm expects to continue operating regardless of the type of disruption, it is impossible to anticipate every scenario. It is, therefore, possible that a significant business disruption could result in the Firm being unable to continue doing business for a significant amount of time. In that instance, our plan provides procedures to help ensure that our customers have prompt access to their funds and securities.
As a general practice, Girard does not hold customer funds or securities. Generally, funds and securities are held either at our clearing firm, Pershing, LLC, or directly at a product sponsor. Since available funds are not held at Girard, they remain accessible directly through the clearing firm or product sponsor, despite any business disruptions at the Firm. Contact information for these entities is contained on the account statements you receive directly from them.
Although we have taken significant steps to develop and implement a sound business recovery plan, Girard cannot guarantee that systems will always be available or recoverable after a disaster or significant business disruption. However, we believe that our planning for such events is robust and consistent with established industry best practices.
If you have any questions regarding Girard’s business continuity plan or seek additional information relative to your Account, please contact your advisor or call customer service at 215-721-2112.