Client Information Privacy Principles
Like most industries today, the financial services industry is rapidly being shaped by technology, which is literally changing the way we do business. To be successful in this environment, we must continue to insure that our clients are confident that we will manage their financial affairs expertly and confidentially.
Lighthouse Wealth Management (hereafter “LWM”) collects personal, private information from its clients in order to determine the clients’ specific investment goals and objectives, which will assist in determining how to adequately service the client account based on the services provided by LWM, as disclosed in LWM’s Form ADV Part II.
The safeguarding of client information is an issue we take seriously, and we want to assure all of our clients that whenever information is collected and used, it is done so with discretion. To affirm our continuing commitment to the proper use of client information, we have set forth the following Privacy Principles, which are designed to guide us in serving the privacy needs of our clients.
Recognition of a Client’s Expectation of Privacy
At LWM, we believe the confidentiality and protection of client information is one of our fundamental responsibilities. Moreover, while information is critical to providing quality service, we recognize that one of our most important assets is our clients’ trust. Thus, the safekeeping of client information is a priority for LWM.
Use, Collection, and Retention of Client Information
LWM limits the use, collection, and retention of client information to what we believe is necessary or useful to conduct our business, provide quality service, and offer products, services, and other opportunities that may be of interest to our clients. Information collected may include, but is not limited to, name, address, telephone number, tax identification number, date of birth, employment status, annual income, and net worth.
Maintenance of Accurate Information
LWM recognizes that it must maintain accurate client records. The above referenced information is collected at the inception of your relationship with LWM. Therefore, LWM will contact you periodically to review your overall account holdings, and to ensure that personal/confidential information contained in your file is accurate. LWM also requests that you review any information provided to you related to your advisory account, and notify LWM promptly on the discovery of erroneous information. LWM will respond to a comment/request to correct inaccurate information immediately.
Limiting Employee Access to Information
At LWM, employee access to personally identifiable client information is limited to those employees that have a business reason to know such information. Employees are educated on the importance of maintaining the confidentiality of client information and on these Privacy Principles. Because of the importance of these issues, all LWM employees are responsible for maintaining the confidentiality of client information, and employees who violate these Privacy Principles will be subject to disciplinary measures.
Protection of Information via Established Security Procedures
LWM recognizes that a fundamental element of maintaining effective client privacy procedures is to provide reasonable protection against unauthorized access to client information. Therefore, LWM has established appropriate security standards and procedures to guard against any unauthorized access to client information.
Information We Disclose
As a general rule, we do not disclose nonpublic personal information to others. However, we rely on certain third parties for services that are necessary to enable us to provide our advisory services to you. These may include our attorneys, auditors, brokers and custodians who, in the ordinary course of providing their services to us, may require access to information containing your nonpublic personal information. In addition, we may disclose your nonpublic personal information to others with your consent, where required by law or judicial process (such as a court order), or otherwise to the extent permitted under the federal privacy laws.
Disclosure of Privacy Principles to Clients
LWM recognizes and respects the privacy expectations of our clients. We want our clients to understand our commitment to privacy in our use of client information. Because of our commitment, we have developed these Privacy Principles, which are made readily available to our clients. Clients who have questions about these Privacy Principles or have a question about the privacy of their client information should call Ed Kozlowski at (301)-865-9740.