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Last Updated: February 19, 2025

Business Continuity Plan

Purpose

The Business Continuity Plan (BCP) outlines the policies and procedures that enable Finpace to respond effectively to significant business disruptions. It ensures the company can make financial and operational assessments, recover quickly, resume operations, and maintain seamless services for its customers.

Scope

This policy encompasses:

  • Business Continuity Plan (BCP)
  • Business Impact Analysis (BIA)
  • Disaster Recovery Plan (DRP)
  • Disaster Management Procedures (as part of DRP)

Finpace's BCP covers critical business aspects, including systems, infrastructure, customer service, and administration. A significant business disruption could be any event that threatens the company's ability to deliver services, risking reputational harm.

About Finpace

Finpace is a software-as-a-service (SaaS) platform specifically designed to streamline financial advisors' workflows. With advanced automation and compliance-focused tools, Finpace empowers advisors to deliver superior client experiences while reducing manual workloads.

Core Offerings

  1. Automated Client Onboarding: Finpace enables advisors to onboard clients accurately and compliantly in under 10 minutes, integrating secure data collection with a seamless user experience.
  2. Ongoing Client Maintenance: Handles compliance-related tasks like ADV and CRS disclosure deliveries, investment advisory contract updates, and automated client reviews. Facilitates data sharing between clients and firm members through collaborative forms.
  3. Email Automation: Allows advisors to send on-brand emails, automate client reviews, and set up recurring communications for annual meetings and KYC updates.
  4. Engagement Hub: Centralizes all client interactions, ensuring tasks like email automation, client reminders, and disclosure compliance are efficiently managed.
  5. Cloud-Based Operations: Finpace is built on cloud infrastructure providers that maintain SOC 2 and ISO 27001 certifications, including Amazon Web Services, delivering 24/7 uptime and a commitment to 99% platform availability.
  6. Digital Onboarding and Compliance Automation: Helps advisors focus on client relationships rather than manual processes by ensuring all onboarding and compliance requirements are met automatically.

Policies and Procedures

Business Continuity Planning Process

The BCP is a dynamic document updated continuously to remain relevant and accurate. Steps include:

  • Identifying and prioritizing critical processes.
  • Assessing the business impact of potential disruptions.
  • Establishing responsibilities and emergency arrangements.
  • Training staff on emergency procedures.
  • Regularly testing and updating the plan.

Business Impact Analysis

Risk Assessment Framework

Finpace employs a framework that evaluates the likelihood and impact of disruptions.

Recovery Objectives

  • RPO (Recovery Point Objective): 8 hours.
  • RTO (Recovery Time Objective):
    • Automated Onboarding: 1 business day.
    • Ongoing Maintenance: 1 business day.

Emergency Contacts and Roles

The Information Security Management Committee (ISMC) is responsible for coordinating responses to disruptions.

Disaster Recovery Plan

The Disaster Recovery Plan ensures risks are mitigated, disruptions are addressed promptly, and normal operations resume swiftly.

Key Policies

  1. Incident Response Plan: Procedures for identifying, documenting, and responding to security events.
  2. Vendor Management Policy: Ensures third-party vendors meet high-security standards.
  3. Backup Policy: Continuous cloud-based backups allow for quick restoration of data.
  4. Remote Work Policy: Finpace's employees operate remotely, reducing dependency on physical office spaces.
  5. Information Security Policy: Protects data accessed via mobile devices and during remote work.

Testing and Maintenance

Annual testing ensures BCP effectiveness. The ISMC oversees testing, reviews results, and updates plans based on findings.

Testing Objectives:

  • Validate the ability to recover operations.
  • Identify and address fail points.
  • Update plans based on test outcomes.

Commitment to Clients and Security

Finpace is dedicated to providing uninterrupted services to its clients. Our platform's design ensures compliance, automation, and scalability, making Finpace an indispensable tool for modern financial advisors.

With proactive business continuity measures, Finpace protects its reputation, customer trust, and operational integrity in the face of potential disruptions.