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Tom Meaglia, ChFC®, AEP®,
CLU®, CRPC®, MSFS
Chartered Financial Consultant
Investment Advisor Representative
Chartered Retirement Planning Counselor
CA Insurance Lic. #0567507
Meaglia Financial Consulting
2105 Foothill Blvd., #B140, La Verne, CA 91750
Toll Free: 800-386-3700
Bus: 909-593-6105
Cell: 818-681-8600
Fax: 909-593-6120
Email: tom@meagliafinancialconsulting.com
Website: www.meagliafinancialconsulting.com
November/December 2020
Business Continuity Planning
No one knows what the next business-threating crisis is going to be. But there are steps you can take in advance to help protect your business so it can survive, and continue to support you, your employees and their families.
Continuity Planning
- Make sure everyone knows their role. Designate someone to be responsible for each critical area.Communicate Often
- Your appointed communications director will handle the press, ensure the website is kept current and provide information to employees, customers and other stakeholders.Maintain Data Backup Processes
- Make sure daily backups are stored off site, in the cloud or both.Rehearse
- Walk your team through security, data recovery, relocation and other plans once per year.Consider Supply Chain Risk
- Ensure your critical vendors are also planning for the unexpected. Plan for alternative resources.Document
- Every task that has to be done should be documented in a way so that even a junior employee can take charge and execute, if necessary.Update Contact Information
- Be sure you always have current and complete contact information for employees, vendors and other key people and store it offsite.Conduct an Insurance Audit Annually
- This process determines how much coverage you need and what type.Business Interruption Insurance
- Consider this coverage which provides cash flow so you can pay bills, payroll and pay other expenses incurred due to a disaster or other covered event. (Many policies exclude a pandemic.)Life Insurance
- Life insurance can provide liquidity and help fund a buy-sell agreement among the partners, so that they can easily buy a deceased partners’ interest in the company from the heirs.CONTACT US
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Investment advisory services are offered through Fusion Capital Management, an SEC Registered Investment Advisor. The firm only transacts business in states where it is properly registered, or is excluded or exempted from registration requirements. SEC registration is not an endorsement of the firm by the commission and does not mean that the advisor has attained a specific level of skill or ability. All investment strategies have the potential for profit or loss.
Meaglia Financial Consulting and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
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