Natural disasters like Hurricanes Helene and Milton are stark reminders that we must always prepare for the worst. During these and other natural disasters, it's not uncommon for customers to need access to funds, which means they need access to you. A strong business continuity plan is essential for financial advisors to maintain business operations and assist their clients when unexpected circumstances arise.

A BCP is a must for regulatory compliance and many insurance policies, and having one in place ahead of time reduces the stress of serving your customers during an emergency. To make sure you're prepared, start by evaluating your existing plan for practicality and accessibility.

Where is it stored? Who has access? Can access be interrupted by a power or technology outage? Do you have a generator to keep your office powered? If not, are employees empowered with the tools they need to work remotely for the long haul?

Here are four key steps financial advisors should take to strengthen their CCP:

1. Consider the most likely interruptions: It is impossible to predict the unpredictable, but if you are in a region prone to hurricanes, tornadoes or floods, you should prepare for such disasters. Whether it's a technology failure, widespread weather events, power outages, or anything else, it's best to discuss these scenarios with your team ahead of time. Identify certain business activities that are top priorities because, depending on the severity of the crisis, it is likely that you will not be able to maintain business as usual.
2. Identify what you need and how you will approach it: Once you've identified your critical activities, you need to determine what is needed to keep those activities online. This may include access to key contact lists and backup power. As an advisor, you'll need to be able to quickly contact your employees and customers to make sure they're safe and help with time-sensitive requests like accessing or transferring funds. Storing contact lists in another location and ensuring your employees are equipped to work remotely are things you can do in advance. It is also important to know who your critical partners are and how to contact them in an emergency.
3. Complete a test: Your plan will be more effective if each person you work with is familiar with their responsibilities. For example, delegating all employee communications to one individual will ensure the team is on the same page. The same can be done with customer communications. The key is to avoid waiting until you hear the sirens to activate the plan. Be sure to practice regularly to confirm that all aspects are still relevant and executable.
4. Create a backup plan: If all else fails, another trusted advisor can be signed up to connect with your customers. Talk to your network members and your relationship manager at your broker/dealer in advance in case your team is completely underpowered. This will preserve your customer relationships and position them as a top priority.

Business interruptions are unexpected by nature, and small businesses are usually more vulnerable to severe impacts. It is imperative that counselors are prepared and free resources such as Ready.gov are available to help facilitate planning.

A well-thought-out BCP protects customer relationships and ensures that the business is operational regardless of the circumstances. Proactively reevaluate your BCP plan to avoid panic in times of emergency.

Casey Sabnis is senior vice president of risk management at LPL Financial.