NW Capital Management and its subsidiaries, Northwest Financial Advisors, NW Insurance Agency, Northwest Tax Group and Northwest Title & Escrow (collectively NWCM), are committed to providing timely service to our clients. We recognize the importance of preparing for various disaster scenarios that could hinder our ability to provide such service. NWCM has taken aggressive steps to provide for business contingency and continuity planning under a variety of potential scenarios. We continue to update our continuity plans and expand our resources in order to provide for the recovery and timely resumption of critical business operations for NWCM.
If NWCM loses the ability to perform business in our Herndon, VA location, we will relocate staff with critical functions to our disaster recovery site in Hagerstown, MD. Recovery is expected within 48 hours. We have plans in place for recovery, and they are tested periodically.
NWCM’s data is backed up on a daily basis and stored off-site. Our Information Technology department is responsible for recovering our data in a timely manner. Our disaster recovery plan is broken up into teams. This ensures a quicker recovery period as well as numerous aspects of the business being recovered, rather than focusing on one issue. NWCM has communications systems setup at our disaster recovery site in Hagerstown, MD. Phone systems as well as Internet access is in place. We also have alternative communications setup between our Firm and our staff. NWCM is a subsidiary of Northwest Federal Credit Union. We work very closely with various departments within the credit union to ensure continuity and rapid recovery.
Please be aware that, while we have detailed plans in place, we cannot guarantee that we will be successful in achieving recovery in the times noted above. For example, we may not be able to implement a plan during a disaster as quickly as we expect, or there may be disasters that we have been unable to anticipate and for which we have no plan. Additionally, if parts of our plan are dependent upon third parties, we will have no control over the success or failure of the third party to respond appropriately to the challenges posed at the time of the disaster. These plans are periodically updated and modified.
NWFCU and Northwest Financial Advisors and NW Capital Management are not registered broker/dealers and are not affiliated with LPL Financial.