In general, we collect personal information to ensure that we have a full inventory of your personal financial facts:

1.      To design a financial plan

2.      To design an organizer

3.      To design financial status reports from quarterly meetings.

4.      To provide additional services requested by the client

5.      To provide accurate information to other trusted advisors requested by the client

6.      To report financial planning concepts back to the client

7.      To properly discharge our regulatory responsibilities with respect to financial planning oversights

8.      To properly discharge our association responsibilities with respect to the designations we hold in financial planning

9.      To meet our obligations imposed on the firm as a member of various self-regulatory organizations

10.  To meet our obligations imposed due to licensing

The knowledge and consent of the client is obtained prior to collecting personal information and any subsequent use or disclosure of this information.  By completing the relevant sections of the Financial Audit and Wealth Planning Service (WPS) agreements, the client is deemed to have given consent to the collection and the specified uses for the information.

Consent may also be given at the time the individual uses a product or service subsequent to The Family Office service.  Consent can be given by an authorized representative of the client (such as a legal guardian or a person having power of attorney).

An individual may withdraw consent at any time, subject to legal or contractual restrictions and reasonable notice.  The implications of how to withdraw are set out in the applicable sections to the Current Financial Plan and WPS service applications.

Neither the firm (The Family Office™) nor advisor (the Family Office CFO™) can, as a condition of the supply of a product or service, require an individual to consent to the collection, use, or disclosure of information unless the information is required to fulfill the identified purposes or to fulfill the requirements of  law.  Because most of the information collected in the organizer is required to satisfy our obligations under the financial planning standard council, consent to collection of this information is considered a condition to the Current Financial Plan or WPS service. 

Limiting Collection

All personal information kept on file, in electronic or paper format is subject to the privacy policy.  Both the amount and the type of information collected must be limited to what is necessary to fulfill identified purposes.

Limiting Use, Disclosure and Retention

As noted above, personal information cannot be used or disclosed for purposes other than those for which it was collected, except with the consent of the individual or as required by law. 

The contact information of your trusted advisors (lawyer, accountant, insurance agent, investment advisor, doctors, dentist, charitable organizations) and other professional practitioners will be contacted for cross-marketing intentions.  We introduce our firm to your advisors and look for ways to increase the benefits a client will obtain from a team approach with all advisors. 

The contact information of your family members is not used for cross-marketing purposes.  This information is only used in the context of wealth planning and your organizer binder. 

The listing of clubs and associations is collected for marketing and event reasons.  If we are having an event that fits your areas of interest you will be contacted.  You may opt out of this marketing use as well as others such as our newsletter, seminars or other related avenues of communication.  This may be noted by giving written notice as stated in your audit agreement. 

In accordance with securities and other laws, all client information on file shall be kept for a period of seven years from the last of the following events:

        a.    the final closing of the client file

        b.    the date the last service was rendered to the client

Personal information that is no longer required to fulfill the identified purpose or otherwise required to be retained must be destroyed or erased.  The procedure for the destruction of records is as follows:

After seven years, no request for approval of document destruction is required from the client; all non-active file documents are eliminated. 

Accuracy

Family CFO Advisors will ensure that all personal information on file is accurate, complete, and up to date to meet the objectives for which it has been collected.  The Family Office CFO™ will update the personal information in the organizer or wealth plan to ensure that any material changes in the client’s circumstance have been properly documented. This helps to minimize the possibility that inappropriate information may be used to make a recommendation to the individual.

To help the Family Office CFO™ keep their client information current, we will request occasional information reviews. 

Safeguards

Security safeguards are in place to protect personal information against loss or theft, as well as unauthorized access, disclosure, copying, use, or modification regardless of the format in which it is held. 

        a.    All files are locked

        b.    Limited access on a need to know basis

        c.    Passwords and encryption’s where applicable

        d.    Disposal of all confidential information done through a secured shredding service

Communication

Specific information about the privacy policy and the practices we follow relating to the management of personal information is given to clients at the time of signing the various planning agreements; in addition, an updated copy is entered into their organizer.

 Medical Information