Type of Information the Firm Collects
Nonpublic personal information is collected and retained by LFA for the purpose of providing general financial planning advice and administering your plan. It is not furnished to third parties for any purpose other than to administer the plan or as required by regulatory organizations. The information we collect can be summarized as follows:
1. Establishment Information. This is information furnished by you on forms creating your financial plan with LFA and/or its affiliated companies. Examples are your name, address, social security number, other family or financial information, and beneficiary designation(s).
2. Transaction Information. This includes information obtained from you and the various entities that comprise the assets in your financial plan. It includes correspondence and phone contacts with us concerning the plan, client investment portfolio, and our services. If the plan was transferred from another financial institution, it may contain records from that institution.
3. Personal Planning Information. This includes information obtained from you regarding other aspects of your personal situation which may be requested to provide financial planning advice. Examples are copies of tax returns, trusts, personal goals, and family situation information.
Nonpublic Information that is Disclosed
All information in your plan may be disclosed to any person or entity you have authorized in accordance with your financial plan establishment documents. In addition, information may be disclosed to affiliated or non-affiliated third parties to further your goals in establishing a plan with LFA. Categories of information disclosed are as follows:
1. Identifying Information. Examples of this information include your name, address and social security or tax identification number.
2. Transaction Information. Examples include your directives to purchase or sell an asset in your plan and the receipt of income to the financial plan or distributions from the financial plan.
3. Regulatory Information. LFA may provide general financial and personal information required by supervisory and regulatory organizations. Examples include age, net worth, income and tax brackets. This information is retained at LFA and forwarded to the regulatory bodies and may be retained in their files.
Parties to Whom We May Disclose Nonpublic Information
LFA does not disclose nonpublic personal information about our clients to any party, except as permitted or required by law. LFA may disclose both identification and transaction information to affiliated and non-affiliated parties for the following reasons:
1. Financial Services Providers. Examples are brokers, transfer agents, mutual fund companies or other representatives of the seller or purchaser of the asset or a firm that provides valuations for securities.
2. Non-financial Companies. Examples are companies that mail reports, prospectus and statements, and tax form providers.
3. Regulatory Organizations. Examples include the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC).
4. Entities with Your Authorization. If you specifically designate someone as authorized to receive information regarding your financial plan, we can provide them with your information in accordance with your request or as they request within the guidelines you have set out for us.
How Lifetime Financial Advisors, Inc. Protects the Confidentiality of Your Nonpublic Personal Information
LFA and its affiliates value the trust you place in us. To maintain that trust, we have put into place safeguards to protect the privacy of your nonpublic personal information. We do not sell or trade your information with non-affiliated companies. LFA cannot be responsible for the actions of third parties, however when information is provided to third party providers to service your financial plan, safeguards are in place to try to make certain that the information is used only for the purpose it is provided.
Internally, LFA maintains its records on secured computers. Once hired, employees are advised of the privacy policies and the confidential nature of the information they handle.
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