Disclaimer: Scaling Independence, LLC “Scaling Independence” is a registered investment adviser offering advisory services in the State of Missouri and in other jurisdictions where exempted. Registration does not imply a certain level of skill or training. The presence of this website on the Internet shall not be directly or indirectly interpreted as a solicitation of investment advisory services to persons of another jurisdiction unless otherwise permitted by statute. Follow-up or individualized responses to consumers in a particular state by Scaling Independence in the rendering of personalized investment advice for compensation shall not be made without our first complying with jurisdiction requirements or pursuant an applicable state exemption.
All written content on this site is for information purposes only. Opinions expressed herein are solely those of Scaling Independence, unless otherwise specifically cited. Material presented is believed to be from reliable sources and no representations are made by our firm as to another parties’ informational accuracy or completeness. All information or ideas provided should be discussed in detail with an advisor, accountant or legal counsel prior to implementation.
Scaling Independence, LLC views protecting its customers’ private information as a top priority and, pursuant to the requirements of the Gramm-Leach-Bliley Act (the “GLBA”), Scaling Independence, LLC has instituted the following policies and procedures to ensure that customer information is kept private and secure.
This policy serves as formal documentation of Scaling Independence, LLC’s ongoing commitment to the privacy of its customers. All employees will be expected to read, understand, and abide by this policy and to follow all related procedures to uphold the standards of privacy and security set forth by Scaling Independence, LLC. This Policy, and the related procedures contained herein, is designed to comply with applicable privacy laws, including the GLBA, and to protect nonpublic personal information of Scaling Independence, LLC’s customers.
Scope of Policy
Overview of the Guidelines for Protecting Customer Information
In Regulation S-P, the Securities and Exchange Commission (the “SEC”) published guidelines, pursuant to section 501(b) of the GLBA, which address the steps a financial institution should take in order to protect customer information. The overall security standards that must be upheld are:
- Ensure the security and confidentiality of customer records and information;
- Protect against any anticipated threats or hazards to the security or integrity of customer records and information; and
- Protect against unauthorized access to or use of customer records or information that could result in substantial harm or inconvenience to any customer.
- Each employee has a duty to protect the nonpublic personal information of customers collected by Scaling Independence, LLC.
- No employee is authorized to disclose or use the nonpublic information of customers on behalf of Scaling Independence, LLC.
- Each employee has a duty to ensure that nonpublic personal information of Scaling Independence, LLC’s customers is shared only with employees and others in a way that is consistent with Scaling Independence, LLC’s Privacy Notice and the procedures contained in this Policy.
- Each employee has a duty to ensure that access to nonpublic personal information of Scaling Independence, LLC’s customers is limited as provided in the Privacy Notice and this Policy.
- No employee is authorized to sell, on behalf of Scaling Independence, LLC or otherwise, nonpublic information of Scaling Independence, LLC’s customers.
- Employees with questions concerning the collection and sharing of, or access to, nonpublic personal information of Scaling Independence, LLC’s customers must look to Scaling Independence, LLC’s CCO for guidance.
Violations of these policies and procedures will be addressed in a manner consistent with other Company disciplinary guidelines.
Types of Permitted Disclosures – The Exceptions
Regulation S-P contains several exceptions, which permit Scaling Independence, LLC to disclose customer information (the “Exceptions”). For example, Scaling Independence, LLC is permitted under certain circumstances to provide information to non-affiliated third parties to perform services on Scaling Independence, LLC’s behalf. In addition, there are several “ordinary course” exceptions, which allow Scaling Independence, LLC to disclose information that is necessary to effect, administer, or enforce a transaction that a customer has requested or authorized. A more detailed description of these Exceptions is set forth below.
- Service Providers. Scaling Independence, LLC may from time to time have relationships with nonaffiliated third parties that require it to share customer information in order for the third party to carry out services for Scaling Independence, LLC. These nonaffiliated third parties would typically represent situations where Scaling Independence, LLC or its employees offer products or services jointly with another financial institution, thereby requiring Scaling Independence, LLC to disclose customer information to that third party. Every nonaffiliated third party that falls under this exception is required to enter into an agreement that will include the confidentiality provisions required by Regulation S-P, which ensure that each such nonaffiliated third party uses and re-discloses customer nonpublic personal information only for the purpose(s) for which it was originally disclosed.
- Processing and Servicing Transactions. Scaling Independence, LLC may also share information when it is necessary to effect, administer, or enforce a transaction for our customers or pursuant to written customer requests. In this context, “Necessary to effect, administer, or enforce a transaction” means that the disclosure is required, or is a usual, appropriate, or acceptable method.
- To carry out the transaction or the product or service business of which the transaction is a part, and record, service, or maintain the consumer’s account in the ordinary course of providing the financial service or financial product.
- To administer or service benefits or claims relating to the transaction or the product or service of which it is a part.
- To provide a confirmation, statement, or other record of the transaction, or information on the status or value of the financial service or financial product to the consumer or the consumer’s agent or broker; or
- To accrue or recognize incentives or bonuses associated with the transaction that is provided by Scaling Independence, LLC or any other party.
Sharing as Permitted or Required by Law
Scaling Independence, LLC may disclose information to nonaffiliated third parties as required or allowed by law. This may include, for example, disclosures in connection with a subpoena or similar legal process, a fraud investigation, recording of deeds of trust and mortgages in public records, an audit, or examination, or the sale of an account to another financial institution.
Scaling Independence, LLC has taken the appropriate steps to ensure that it is sharing customer data only within the above noted Exceptions. Scaling Independence, LLC has achieved this by understanding how Scaling Independence, LLC shares data with its customers, their agents, service providers, parties related to transactions in the ordinary course or joint marketers.
Safeguarding of Client Records and Information
Scaling Independence, LLC has implemented internal controls and procedures designed to maintain accurate records concerning customers’ personal information. Scaling Independence, LLC’s customers have the right to contact Scaling Independence, LLC if they believe that Company records contain inaccurate, incomplete, or stale information about them. Scaling Independence, LLC will respond in a timely manner to requests to correct information. To protect this information, Scaling Independence, LLC maintains appropriate security measures for its computer and information systems, including the use of passwords and firewalls.
Additionally, Scaling Independence, LLC will use shredding machines, locks and other appropriate physical security measure to safeguard client information stored in paper format. For example, employees are expected to discard documents not required to be kept by placing them in the appropriate bin for shredding.
Scaling Independence, LLC protects confidential client information including but not limited to consumer report or any compilation of consumer report information derived from a consumer report by maintaining some information in locked areas and shredding such information when then information is no longer needed by Scaling Independence, LLC.
Scaling Independence, LLC maintains physical, electronic, and procedural safeguards to protect the integrity and confidentiality of customer information. Internally, Scaling Independence, LLC limits access to customers’ nonpublic personal information to those employees who need to know such information in order to provide products and services to customers. All employees are trained to understand and comply with these information principles.
Scaling Independence, LLC has developed a Privacy Notice, as required under Regulation S-P, to be delivered to customers initially and on an annual basis. The notice discloses Scaling Independence, LLC’s information collection and sharing practices and other required information and has been formatted and drafted to be clear and conspicuous. The notice will be revised as necessary any time information practices change. A copy of Scaling Independence, LLC’s Privacy Notice is available on Scaling Independence, LLC’s website.
- Privacy Notice Delivery
- Initial Privacy Notice – As regulations require, all new customers receive an initial Privacy Notice at the time when the customer relationship is established, for example on execution of the agreement for services.