What happens when I add a trusted contact to each of my accounts?

When you add a trusted contact to your Investment account or IRA account, you’re authorizing Folio Investments, the custodian and broker-dealer for your account, to contact your trusted contact person(s) and disclose to your trusted contact person(s) information about your account in the following circumstances:

  • To address possible financial exploitation, which may occur when a person misuses or takes the assets of a vulnerable adult for his or her own personal benefit.
  • To confirm the specifics of your current contact information, health status, or the identity of any legal guardian, executor, trustee or other holder of a power of attorney, or as otherwise permitted by FINRA Rule 2165 (Financial Exploitation of Specified Adults).
Was this article helpful?
0 out of 0 found this helpful
Have more questions? Submit a request