Wescom Financial Services has developed
a Business Continuity Plan on how we will 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.
Contacting Us If after a significant business disruption
you cannot contact us as you usually do at 888-493-7266 option
1 extension 5104 or go to our web site at: www.wescomfinancial.com.
You may also contact us at our email address of mail@wescom.org.
If you cannot access us through either of those means, you should
contact our clearing firm, Pershing, LLC, PO Box 2065, Jersey City,
New Jersey 07303-2065; or 201-413-3635, for instructions on how
it may process limited trade-related transactions, cash disbursements,
and security transfers. In addition, you may contact our sub-clearing
firm, CUSO Financial Services, PO Box 85744, San Diego, CA 92186,
or 800-686-4724 for the same services.
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 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 firm, Pershing, LLC, backs up our important 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
our clearing firm that its objective is to restore its own operations
and be able to complete existing transactions and accept new transactions
and payments within four hours. Your orders and requests for funds
and securities could be delayed during this period.
Varying Disruptions Significant business disruptions
can vary in their scope, such as only our firm, a single building
housing our firm, the business district where our firm is located,
the city where we are located, or the whole 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 four
hours. 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 twenty-four
hours. In either situation, we plan to continue in business, transfer
operations to our clearing firm if necessary, and notify you through
our web site www.wescomfinancial.com or our customer number, 888.493.7266
how to contact us. If the significant business disruption is so
severe that it prevents us from remaining in business, we will
assure our customer's prompt access to their funds and securities.
For more information If you have questions about our
business continuity planning, you can contact us at 888.493.7266
or mail@wescom.org.
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At Wescom Financial Services ("WFS") we may receive compensation from one, or all, of the mutual fund families and insurance (fixed and variable products) providers that are available to our customers. These payments include commissions, trailing commissions and for certain product providers, payments made in connection with programs that support our marketing and sales-force education and training efforts (referred to here as "Strategic Partners"). These special relationships bring additional compensation to WFS, which is used to supplement training, educational presentations and other support so that our representatives can ultimately work more effectively for you. We believe that these programs do not compromise the advice your representative provides to you. Your representatives compensation is the same regardless of whether or not the sale involves a Strategic Partners Program.
Strategic Partners Program
The payments made under Strategic Partners are calculated based upon gross sales or assets under management. Payments exclude assets held in fee-based programs at WFS. WFS may receive compensation of up to 0.25 percent (25 basis points) per purchase. For example, if you purchased $10,000 with a participating mutual fund family or insurance provider, WFS could receive up to $25. WFS Representatives do not receive any part of these payments.
The programs that participate in Strategic Partners are listed below.
Mutual Funds
AIM Investments
Calvert Funds
Federated Investors
Franklin Templeton
Hartford Mutual Funds
ING Funds
John Hancock Funds
MFS Investment Management
Oppenheimer Funds
Pacific Funds
Phoenix Funds
Fixed and Variable Insurance Providers
Allstate
American Skandia/Prudential
Jackson National
John Hancock/Manulife
Metlife Investors
Nationwide
Phoenix Wealth Management
US Allianz
More Information
More Information Information about a mutual fund's fees and expenses may be found in the fee table located in the fund's prospectus. Also, the fund's statement of additional information contains important information that you may wish to read. Information about a variable insurance products fees and expenses may be found in the fee table located in the variable insurance products contract document.
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