TCP

July 2022: Know the difference between a Trust Contact Person and a Power of Attorney. A Trusted Contact Person does not have authority to make transactions on your account, but the intent is to be a resource to assist me in protecting your financial interests or assets in certain circumstances.  Several new regulatory requirements came into effect December 31, 2021, one of which includes an effort to increase protection for all investors, and to respond to the needs and priorities of older and vulnerable investors involving diminished mental capacity or financial exploitation. Investment professionals are now required to take reasonable steps to obtain the name and contact information of a ‘Trusted Contact Person’ from all their clients, and to obtain their written consent to contact the Trusted Contact Person in specified circumstances.