In an effort to protect vulnerable adults from financial exploitation, the financial industry implemented new regulations that require firms to make reasonable efforts to obtain Trusted Contact information for accounts. In addition, firms may place temporary holds on disbursements of funds or securities from the accounts of clients where there is a reasonable belief of financial exploitation of these clients.
You can partner with us to help prevent financial exploitation by naming a Trusted Contact to look out for you interests. We will only reach out to your Trusted Contact if we are unable to reach you, have concerns that you may be a victim of financial exploitation or are experiencing diminished mental capacity. Naming a Trusted Contact is optional, but having a person in place can help protect your assets.
To designate or change your Trusted Contact person, please complete and sign the Trusted Contact Authorization form. You’ll need to know their phone number and physical address. An email address is helpful, but not required. We’ll also ask for their relationship to you. Print your completed form, and provide it to your registered representative.
Anyone at least 18 years old can be a Trusted Contact, but we suggest designating a person who isn’t already authorized to conduct business or receive information on your behalf. Trusted Contacts are usually family members or close friends, people you trust and who are likely to be in the best position to know your current situation, as opposed to financial consultants, investment advisors or powers of attorney.
A Trusted Contact will help us contact you; provide the identity of any legal guardian, executor, trustee, or holder of power of attorney; or to help us look into possible financial exploitation. Your Trusted Contact does not have authority to access your account or make transactions on your behalf.
Cadaret, Grant may use its discretion in relying on information provided by the Trusted Contact, including placing temporary holds on disbursement of funds or securities.