It is a goal of Lara, May & Associates, LLC (“LMA”) to provide our customers with an expected high level of service no matter what disruption the firm may be experiencing. LMA has developed a business continuity plan (“BCP”), per FINRA Rule 3510, to respond to events that significantly disrupt our business. 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 and have highlighted its primary aspects.
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 BCP is designed to permit our firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption.
Our BCP addresses: data back up and recovery; mission critical systems; financial and operational assessments; alternative communications with clients, employees, and regulators; alternate physical locations of employees; critical vendors, contractors, bank and custodial impact; regulatory reporting; and assuring our clients prompt access to their funds and securities if we are unable to continue our business.
We have offsite back up of electronic files and offsite local storage of historical records and documents. While 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 ensure your orders and requests for funds and securities are met however the requests could be delayed during this period.
Contacting us – If, after a significant business disruption, you cannot contact us as by calling our Falls Church, Va. main office number at 1-800-842-8834, please refer to the following alternatives:
If during a disruption your request is urgent, for example: need prompt access to funds and securities, place orders and process other trade-related cash and security transfer transactions – and you cannot contact us– you may contact the custodian of your account directly. Your accounts are not held by LMA. For example, if you have accounts at Morningstar, Charles Schwab, or at an individual mutual fund company, you should contact the Customer Service number on your statement of the respective custodian. If your account is held at our clearing firm, First Clearing1, during a disruption First Clearing will assist you with sell/liquidation orders and provide check disbursements, if needed. If we have declared an emergency and you cannot contact us, please call First Clearing for assistance at 877-496-3223.
LMA recognizes that protecting the privacy and security of the non-public personal information we obtain about our clients is an important responsibility. All financial companies choose how they share your non-public personal information. Federal law gives consumers the right to limit some but not all sharing. Federal law also requires us to tell you how we collect, share, and protect your non-public personal information. Even when you are no longer our clients, we will only share your non-public personal information as described in this notice. Please read this notice carefully to understand what we do.
What types of information does LMA collect?
The types of non-public personal information we collect and share depend on the product or service you have with us. This information can include items such as your Social Security number, date of birth, government identification, income, account balances, transaction history, employment, bank account(s), your investment experience and financial related transactions. For insurance products, information may include past, present and/or future health related matters or provisions of health care and/or payment for an individual.
We collect your non-public personal information in a variety of ways. For example, we obtain your non-public personal information when you open an account, provide your client profile suitability information, tell us about your existing investment accounts or deposit checks, or complete an insurance application. We also collect your non-public personal information from other companies, such as from the custodians of your account assets.
How does LMA share your personal information?
All financial companies need to share clients’ non-public personal information to run their everyday business. We share your non-public personal information for our everyday business purposes such as to process your transactions, maintain your account(s), respond to court orders and legal or regulatory investigations, to protect the confidentiality and security of your records, or as permitted by law. We may also share your non-public personal information for our own firm’s marketing purposes; to offer our products and services to you.
Federal law gives you the right to limit only sharing non-public personal information about your credit worthiness for our affiliates’ everyday business purposes; sharing non-public personal information about you with our affiliates to market to you; and sharing non-public personal information with non-affiliates to market to you. We don’t share non-public personal information about your creditworthiness with our affiliates for their everyday business purposes. We don’t share your non-public personal information with our affiliates to market to you. We don’t share your non-public personal information with non-affiliates to market to you. We also don’t share your non-public personal information for joint marketing with other financial companies. State laws and individual companies may give you additional rights to limit sharing. We do not share non-public personal information with our affiliates. However, we share your non-public personal information with a non-affiliate for the purpose of aggregating it and providing summary information based on this data to our parent company, Focus Financial Partners, LLC.
How does LMA protect your personal information?
To protect your non-public personal information from unauthorized access and use, we use security measures that comply with federal law and financial industry standards. These measures include electronic safeguards and physical protection. Our policy about obtaining and disclosing non-public personal information may change from time to time. We will provide you notice of any material change to this policy before we implement the change. If you have questions please call us at 800-842-8834 or go to our website at www.laramayllc.com.
We continually strive to keep client information accurate, secure and confidential. Our confidentiality and business ethics policies provide that all client information is considered private and privileged. We restrict access to information about our clients to those employees and authorized agents who need to know that information in order to provide products or services to you. We maintain physical, electronic and procedural safeguards that comply with federal standards to maintain the confidentiality of your information. We remain committed to protecting your financial privacy.
CUSTOMER IDENTIFICATION PROGRAM NOTICE
Federal law requires financial institutions to obtain, verify and record information that identifies each person who opens an account. All clients will be required to provide the following: your legal name, date of birth, physical home address, social security number, a copy of government issued identification – such as a driver’s license or other identifying documentation. Thank you for your cooperation.
1First Clearing is a trade name used by Wells Fargo Clearing Services, LLC, Member SIPC, a registered broker-dealer and non-bank affiliate of Wells Fargo & Company.