March 23, 2020
Last week was a challenging one for many across our country and the world, given health concerns, transitions to social distancing, and the volatility in the markets. Our thoughts are with our clients, families, and friends, and we are here to help our clients navigate through this challenging environment.
Last week’s transition to a largely remote working environment for our employees progressed smoothly. All of our business functions continued to meet our clients’ needs in a timely fashion. We were also pleased that the IRS extended the tax filing deadline to July 15 which will make it logistically easier to obtain client signatures by the tax return due dates.
We will again operate with a majority of employees working remotely this week, and continue supporting our clients through this challenging period. Please reach out to your investment officer or John Morey, Head of Client Service, if you have questions (617-574-3459 or email@example.com).
March 16, 2020
Fiduciary Trust, as a regulated bank, has a robust business continuity plan that we regularly test to be prepared for a variety of situations–including pandemics–which could affect our normal operations. Given the developments around the world related to the novel coronavirus, we have implemented changes to our standard operating process to reduce health risks to our clients, employees, and the community. We expect that these steps will not interfere with our service offering to our clients.
The following are the temporary measures we have taken:
- Having the majority of our employees work remotely via secure connections to our systems. Regardless of their locations, all Fiduciary employees can still be reached via their work phone numbers, email addresses, and fax numbers.
- Limiting employee in-person meetings with clients and external business associates, particularly those who are in high-risk populations, and instead conducting meetings by phone or videoconference
- Curtailing work-related travel and employee attendance at work-related conferences
- Postponing Fiduciary Trust client events
Although we are largely working remotely, given our recent technology investments and process improvements over the past five years, we can continue to manage investment portfolios, handle cash transaction requests, receive mail (which will be scanned and emailed to employees who are working remotely), pay bills, and provide our other traditional services.
Actions for Clients to Consider
There are steps that clients can take to assist in the effectiveness of our business continuity program, while enhancing their own resiliency should they experience a disruption in their own lives or organizations. Our primary recommendation is to use secure digital communications and electronic funds transfers, when possible, including receiving electronic statements and ACH. Not only are electronic channels generally more secure than postal mail, they are faster, easier to access from multiple locations, typically result in an immediate backup of information, and are environmentally friendly.
The Fiduciary Trust client portal and mobile app provide convenient, secure access to account balances, investment details, and account statements. In addition, the portfolio reports that our Investment Officers share with clients may be delivered via the portal. If you have not already set up access to the portal or mobile app, we encourage you to contact your Client Associate or Investment Officer for instructions.
Given our focus on business continuity preparedness, we are confident that we will continue to serve clients effectively in this environment. If you have questions about our business continuity program, please contact your Fiduciary Trust Officer or Robert Jeffers, Chief Operating Officer, at 617-574-3431 or firstname.lastname@example.org.