A trusted contact is a person that you authorize your brokerage firm to contact in limited circumstances, such as if your broker has trouble reaching you or has a reasonable belief that your account may be exposed to possible financial exploitation. Naming someone as a trusted contact does not give that person any authority to act on your behalf, execute transactions or engage in activity in your account. 

What are some of the reasons you should add a trusted contact to your account?  

Adding a trusted contact person to your account puts your brokerage firm in a better position to keep your account safe. It may help your firm: 

• respond to possible financial exploitation or fraud in your account,  

• protect your account's assets if you are experiencing a health issue,  

• verify the identity of any legal guardian, executor, trustee or holder of a power of attorney on your account, and 

• ensure that your current address and contact information are correct.  

Can a trusted contact act on your behalf?  

Naming someone as a trusted contact does not give that person any authority to act on your behalf, execute transactions or engage in activity in your account. It also does not make that person a power of attorney, legal guardian, trustee or executor. 

Who is eligible to be a trusted contact?  

A trusted contact must be age 18 or older. They may be a family member, attorney, accountant or another third-party you believe would respect your privacy and know how to handle the responsibility. You may also choose to add more than one trusted contact to your account. 

How can you add or change a trusted contact on your account? 

You can add or change a trusted contact at any time. Brokerage firms may ask you to add a trusted contact when you open a new brokerage account or when you access your existing brokerage account. Consider reviewing the trusted contact(s) on your account annually and any time you experience a significant life event.