Fortis Family Office Document Retention Schedule

As part of the Fortis team, you have entrusted us with many documents pertaining to your financial well-being.  Fortis stores documentation both in paper and electronic format.  File disposal is an important part of managing your documents.  Our Document Retention Policy designates the time period for which we store electronic and paper files for each document type.  Fortis reserves the right to amend, revise or revoke this policy at any time.

Client Records – Family Office Services

Contracts with Fortis                                                                                       7 years

Accounting Software                                                                                       Permanent

Tax Returns and Related Support Schedules                                              15 years after filing date

Gift Tax Returns and Related Support Schedules                                       Permanent

Bank-Related Documents                                                                               5 years

Legal Documents                                                                                             Permanent

Financial Statements                                                                                       5 years

Payroll Related Items                                                                                       5 years

Account Statements                                                                                        5 years

Accounts Payable                                                                                             4 years

Insurance Policies                                                                                            Permanent

Insurance – Other                                                                                             5 years

Client Correspondence                                                                                    4 years

Other Client Related Documents                                                                    2 years


Client Records – Advisory Services

All Documents                                                                                                  Permanent


Destruction Method

Fortis engages in an on-site shred company to destroy paper files.  Documents containing personal identifiable information (PII) such as social security numbers, names or account numbers are destroyed in this manner.  Electronic files are destroyed by deleting the files. Hard drives and copies of computer backups are stored in a secured location for five years after being retired.  At the end of their retention period they are destroyed by shredding or other proven means to destroy such media.  In some instances, certain files may require a longer retention period.  Exceptions are approved by the client relationship manager.  In the event of potential litigation or legal/regulatory inquiries, all related information will be “frozen” and locked down on the network or Fortis file location.

Terminated Clients – Family Office Services

When a client separates from Fortis, all of their Network and Archive files will be transferred to the “Archive” network drive.   We will maintain these files for 5 years unless requested by the client to destroy or transfer the files to another family office, appointed designee, or to the client directly.


Terminated Clients – Advisory Services

When a client separates from Fortis, all of their Network and Archive files will be transferred to the advisors archive network drive.   The files will be permanently stored.


Schedule Administration

The Firm may modify the Document Retention Schedule from time to time as necessary to comply with law and/or to include additional or revised document categories as may be appropriate to reflect firm policies and procedures.