Firm Disclosure and Information
Regulation Best Interest Disclosure
Advisory accounts are managed through our affiliate Buckman Advisory Group, LLC, In addition Life Insurance is sold through Buckman Capital, LLC.
605/606 Quarterly Data — Best Execution and Order Routing
Buckman, Buckman & Reid, Inc. ("BB&R") regularly makes information available related to SEC Rules 605 and 606 related to quality of execution ("Best Execution") and order routing practices, respectively. As of January 1st 2018, all of the firm's orders are routed through SS&C MarketTrader, or our clearing agent handling customer accounts, RBC Clearing & Custody, Inc. ("RBC").
Reports for the firm's business through SS&C, and RBC can be found below:
RBC: http://external.s3.com/rule606/rbcwm/correspondentsvcs/
SS&C: coming soon
606 Reports For Routed Option Trades:
Maxim: http://www.maximgrp.com/public-disclosures/
Interactive Brokers
Held NMS Stocks and Options Order Routing Public Report
BB&R conducts over 95% of its business on or through RBC's proprietary or related systems.
Routing/Payment For Order Flow: Buckman, Buckman & Reid, Inc. receives remuneration for directing orders in options and equity securities to particular brokers/dealers or market centers for execution. Such remuneration is considered compensation to the firm, and the source and amount of any compensation received by the firm in connection with your transaction will be disclosed upon request. In all cases, orders are subject to price improvement from the national best bid or offer and never are executed at less than the best bid or offer.
Reports for orders Prior to January 1, 2018 and routed through the FIS platform may be found at: https://www.sungard.com/solutions/compliance-tax/protegent/protegent-trading-compliance/best-execution-order-routing
Questions regarding any of the firm's Best Execution or Order Routing data may be addressed by contacting the firm's Chief Compliance Officer, below:
Richard Panno
Chief Compliance Officer
Buckman, Buckman & Reid
631 US-1 Suite 401 North Palm Beach, FL 33408
Direct Dial: (561) 314-2013
HQ: (732) 530-0303
Partial Redemptions / Calls
In case of a partial redemption or call of securities or options, etc., priority will be accorded to customer accounts on a FIFO (first in-first out) basis. Alternatively, if there is no priority in time among respective customer accounts, then such redemptions or calls shall be allocated on a pro-rata basis; or, if more appropriate or preferable, then such allocation shall be effected as otherwise determined to be fair, reasonable, and practicable by management.
Business Continuity Plan
Buckman, Buckman & Reid, Inc., (BBR) in conjunction with our clearing firm, RBC Correspondent Services, LLC, have back-up systems in place to help ensure your transaction data and other account information are protected in the event of a disaster. In conjunction with our clearing firm, we have strategies for single site, multiple site, and regional outages, with their critical functions separated over different locations — New York City, Minneapolis, St. Louis, California, and Illinois. From phone systems and wire traffic, to transportation of BBR associates to other sites, the BBR and RBC contingency plans are tested periodically to help ensure minimal interruption in the event of a disaster or major business interruption.
In the event of a business disruption, customers can contact Buckman, Buckman, & Reid's clearing firm via the internet or telephone in order to conduct business. The contact information is: RBC Correspondent Services, www.correspondentservices.com, or http://www.rbccorrespondentservices.com/, 1-888-462-1816, or Dennis Hollenkamp at (314) 589-5770 (St. Louis, MO), Paul Meehl at (612) 607-8998 (Minneapolis, MN), or Brian Caputo at (212) 618-2575 (New York, NY)
In the event of inclement weather disruptions:
- If there is a forecasted severe weather emergency (e.g. snow, hurricane, tornado), hotel rooms may be obtained for essential personnel. If the weather emergency could result in an inability to access the primary site, an alternate site would be prepared for use, and personnel would be sent there. A number of personnel have remote access so they can work from home. Employees can access voice mail and e-mail messages remotely.
- Pandemic – BBR's strategy is designed to address preparedness and response to a pandemic, with the intent of stopping, slowing, or otherwise limiting the spread of a pandemic and mitigating impact to our sites, our business functions, and our customers. Other potential scenarios include a military, biological, or chemical "event" in or near a location in which the firm conducts business.
BBR plans also include the ability to recover from situations such as unplanned evacuations, power outages, major water leaks, fires, loss of water, and any facilities failure that may cause significant business interruption. Planned recovery times will vary depending on the nature and severity of the event.
Should there be a significant disruption, clients are encouraged to visit BBR's website at www.buckmanbuckman.com for additional, current recovery estimate information. You may contact the firm's clearing agent as listed in this statement.
Communications with Regulators – BBR will communicate with its regulatory authorities regarding the nature and extent of any significant outage at a primary location, as required by applicable law and regulation including estimated planned recovery time.
BBR's usage and updating of its "Emergency Call Trees" will ensure accurate and current information for its customers regarding mission critical systems status effect and anticipated recovery time.
Money Movement – BBR has relationships with its clearing firm and banks to support money movement activities for the necessary settlement activity and regulatory requirements, as well as to support client money movement activities.
Access to Your Funds – Your ability to trade your available funds may be impacted by market events outside of our control. In the event that BBR ceases operations, customers can call RBC at 1-888-462-1816.
The recovery objectives may be negatively affected by the unavailability of external
resources and circumstances beyond the Firm's control. If you have any questions, please contact BBR's Compliance Department at 800-531-0303.
12/09