Business Continuity Plan
Business Continuity Plan
Contacting Us — During a significant business disruption you should be able to contact us as you usually do at 800-226-2660. However, if you cannot reach us at that number, you should contact our clearing firm, First Clearing, LLC at 877-496-3223 or Pershing LLC at 201-413-3635 for instructions on how they can provide prompt access to funds and securities, enter orders and process other trade-related cash and security transfer transactions.
Our Business Continuity Plan — We plan to quickly recover and resume business operations after a significant business disruption 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 business continuity plan is designed to permit our firm to resume operations as quickly as possible, given the scope and severity of the significant business disruption.
Our Business Continuity Plan addresses data back up and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring our customers prompt access to their funds and securities if we are unable to continue our business.
Our clearing firms, First Clearing, LLC and Pershing LLC, back up our records in a geographically separate area. While every emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption, we have been advised by First Clearing and Pershing that their internal objective is to restore their own operations and be able to complete existing transactions and accept new transactions and payments within in a timely manner. Your orders and requests for funds and securities could be delayed during this period.
Varying Disruptions — Significant business disruptions can vary in their scope, whether it affects only our firm, a single building housing our firm, the business district where our firm is located, the city where we are located, or an entire region. Within each of these areas, the severity of the disruption can also vary from minimal to severe. In a disruption to only our firm or a building housing our firm, we will transfer our operations to a local site when needed and expect to recover and resume business within one day. In a disruption affecting our business district, city, or region, we will transfer our operations to a site outside of the affected area, and recover and resume business within one day. In both cases, we plan to continue in business and post pertinent information on our website, www.Summitbrokerage.com. If the significant business disruption is so severe that it prevents us from remaining in business, we will facilitate our customers' prompt access to their funds and securities. If you have questions about our business continuity planning, please contact us at 800-226-2660.
Summit Brokerage Services, Inc. and its affiliates (“Summit”) are committed to safeguarding the confidential information of its clients. This information includes all personal data that we collect from you in connection with any of the services provided by Summit.
We collect personal information about you for business purposes, such as evaluating your financial needs, processing your requests and transactions, informing you about products and services that may be of interest to you, and providing customer service. We collect non-public information about you from the following sources:
We limit access to non-public personal information to those employees, representatives and agents who need to know in order to conduct our business, service your account, keep you informed, and help you accomplish your financial objectives, such as providing you with a broad range of services and products. Our employees, representatives and agents are required to maintain and protect the confidentiality of your personal information and must follow established privacy procedures. We maintain physical, electronic, and procedural safeguards to protect your personal information.
In the regular course of our business, we may disclose some or all of the non-public personal information described above with our affiliates and with non-affiliated third parties as necessary to effect, administer or enforce transactions that you request or authorize, or in connection with processing or servicing a financial product or service that you request or authorize.
Summit Brokerage Services, Inc. is a fully disclosed introducing securities broker-dealer, and a member of the Financial Industry Regulatory Authority ("FINRA") and the Securities Investors Protection Corporation ("SIPC"). Our affiliates are companies controlled by us, or companies controlling or under common control with us, including registered investment advisors and insurance agencies, their representatives and agents. Our affiliates currently are Summit Financial Group, Inc., a federally covered Registered Investment Advisor; and our affiliated insurance agencies, SBS Insurance Agency of Florida, Inc. and SBS of California Insurance Agency, Inc. Due to the complementary services offered by these affiliates depending on the types of investment of the client, non-public client information is necessarily shared between these affiliates as necessary to effect, administer, or enforce a transaction, or to process or service a financial product or service that you request or authorize.
The non-affiliated third parties with which we may share non-public client information include financial service providers, such as clearing firms, mutual fund companies, investment money managers, and insurance companies with whom we have contracted, and in many cases, with whom the client has contracted as well. Their involvement is essential to the provision of overall service provided by Summit to its clients. The information shared with these non-affiliated companies is not sold or rented to them, nor is it shared with them for marketing or solicitation purposes. We will share non-public information with non-affiliated companies only when they agree to uphold and maintain our privacy standards when handling a customer's personal information.
Personally identifiable information about you will be maintained during the time you are a client, and for the required time thereafter that such records are required to be maintained by federal and state securities and insurance laws. After this required period of record retention, all such information will be archived or destroyed. In all other respects, the information about former clients is treated in the same manner as information about current clients.
We strive to keep our customer records complete and accurate. We will give you reasonable access to information we have about you. Most of this information is contained in account statements that you receive from us and applications that you submit to obtain our products and services. We encourage you to review this information and notify us if you believe any information should be corrected or updated. If you have any question or concern about your personal information or this privacy notice, please contact our Compliance Department at 800-257-6082, or by mail at: 595 South Federal Highway, Suite 500, Boca Raton, Florida 33432-5542.
Securities are not FDIC insured, are not guaranteed against market risk and may lose value. All illustrations used on this website are hypothetical and assume certain facts, figures or rates of return. Some illustrations may show how a market index has performed. An investor cannot invest in an index, although there are some investments designed to mirror index performance. Past performance is not a guarantee of future results.
Any guarantees for insurance products are based on the claims paying ability of the issuing insurance company. Annuities are long-term contracts intended for retirement purposes, and should not be purchased with funds for which there will be an immediate or short-term need, as early withdrawals can result in tax penalties and/or surrender charges.
Neither Summit nor any of its registered representatives are permitted to give legal or tax advice on behalf of Summit, its subsidiaries or affiliates. Some individuals who are registered representatives of Summit may be attorneys or accountants and may separately provide tax advice or services under a name other than Summit, its subsidiaries or affiliates. For purposes of an investor's overall financial, estate or retirement plan, Summit highly encourages its investors to obtain the independent advice and services of legal and tax professionals.
Customer Identification Program
Revenue Sharing Disclosure
SEC Order Execution and Routing Disclosure
Customer Fee Schedule