North Star Financial Group, Inc. (NSFG) has developed a Business Continuity Plan (BCP on how we will respond to events that significantly disrupt our business. Since the timing and impact of disasters and disruptions are 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.
Who can declare an emergency: This will be decided by committee of Chief Compliance Officer and VP of Operations. The VP of Operations will maintain the employee contact list and contact each.
Contacting Us: Our telephone number under normal operating conditions is 828-323-8777 or toll-free at 1-877-323-8777. However, during a significant business disruption you may need to contact us by using alternative numbers. The alternative numbers to call are 704-657-0362 (Pam Stanley) or 910-319-7834 (alternative office location). It is important to keep these numbers available in the rare situation of business disruption.
Business Continuity Plan: We plan to quickly recover and resume business operations after a significant business disruption and respond by safeguarding our employees, property, making a financial and operational assessment, protecting the firm’s books and records, and allowing our clients to transact business. In short, our BCP is designed to permit our firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption.
Secondary Meeting Location: Significant business disruptions can vary in their scope, such as only our firm, the building housing our firm, the business district where our firm is located, the city where we are located, or the whole region. The severity of the business disruption can also vary from minimal to severe. In a disruption to only our firm, or the building, we are able to operate remotely using our off-site back-up systems, and remote access computers. Should the main office be destroyed or no longer usable, an alternative office location in Wilmington, NC will be used.
Notification: We will deploy electronic notification of a disruption that may negatively impact our ability to serve our clients. In addition, we will update the phone greeting, if able, to give the alternate numbers to call or temporarily transfer our phone number to an alternate number, if able. We will notify our custodians of the business disruption and provide alternate instructions to reach the custodian directly for client needs that we are unable to provide.
