Business Continuity Planning – Disclosure
McDermott Investment Services, LLC and McDermott Investment Advisors, LLC, has developed a Business Continuity Plan in the event a Pandemic should occur and we are forced to close office locations. 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 main office [either via telephone at: (610) 882-1460 or via email at dmcdermott@mcdermottadvisors.com], you should call our alternative number (239) 298-5263 which is our Naples Florida location or go to our website at www.mcdermottadvisors.com for guidance.
As cell phones have become an integral part of business operations, office numbers will be forwarded to the cell phones of firm principals who will be able to give you an assessment of the situation and make every attempt to facilitate business.
If you cannot access us through either of those means, please contact our clearing firm, RBC Capital Markets at (612) 607-8239 for instructions on how they may facilitate trades, transfer securities or distribute funds for your accounts.
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.
McDermott Investment Services, LLC, our Broker Dealer, McDermott Investment Advisors, LLC, our Investment Advisory, and our clearing firm, RBC Capital Markets, backs up our important records in a geographically separate area. Every emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption, we will make every attempt to restore our business operations as fast as possible. We have been advised by our clearing firm that its objective is to restore its own operations and be able to complete existing transactions and accept new transactions and payments within twenty four hours. Your orders and requests for funds and securities could be delayed during this period.
For more information – If you have questions about our business continuity planning during this Pandemic or at any time, you can contact us at (610) 882-1460.
