Each year, Investment Advisors are required to provide clients with an updated brochure outlining any material changes to our practice. The update for American Financial Advisors, LLC is normally due March 31st of each year.
In light of the current situation with the outbreak of the coronavirus disease (COVID-19), we are relying on the order under Section 206A of the Investment Advisers Act of 1940 that has granted an exemption and an extension of the delivery of this update due to the disruptions caused by this global pandemic.
We are notifying you of this delay as part of our requirements pertaining to Rule 204 to notify clients and are outlining the following formal conditions:
We are relying on the order referenced above (Section 206A of the Advisers Act) and will delay the delivery of this document so we may be able to focus our resources on serving our clients – as we continue our operations remotely.
Our office location has been closed since March 20, 2020 to help ensure the safety and health of our clients and employees. While the spread of COVID-19 has forced us to adapt our day-to-day operating model, early planning and decisive actions have helped us remain operational during this crisis. Our office will remain closed until further notice.
Our team continues to work remotely as part of our business continuity protocol. While we are able to respond to client requests and questions via phone or email, our ability to fully direct our attention to the ADV has presented challenges at this time.
In addition, our Chief Compliance Officer is in a high-risk category for this virus and our priority remains the health and welfare of our staff and clients.
We fully expect to deliver this updated document to you prior to or on April 30, 2020.
We look forward to resuming normal operations as soon as possible and we remain focused on serving our clients.