Who should I name as my trusted contact?

Question

At the moment, my brokerage firm is asking me to name a trusted contact. At the moment, I understand this person is not supposed to control my account, but I want to know when the firm might contact them and what information could be shared. As things stand, the decision could affect roughly $28,000 in my situation, so I want to compare the tradeoffs instead of using a rule of thumb.

Soradin · Accepted Answer

Choose a reliable adult who knows you, can be reached, and is unlikely to create conflict or misuse information. When the options are compared, a trusted contact is someone a financial firm may contact if it cannot reach the account owner or suspects exploitation or incapacity. When the options are compared, the person does not automatically receive authority to trade, withdraw money, or make decisions.

Who should I name as my trusted contact?

Soradin

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