Investment accounts, including brokerage accounts, can benefit from designating a "trusted contact." While it's not mandatory, regulatory organizations like FINRA and the SEC encourage individuals to provide the name and contact information of someone they trust. A trusted contact is someone your financial firm can reach out to in limited situations, such as concerns about unusual activity in your account when they can't reach you. This person could be a family member, attorney, or accountant, and you can have multiple trusted contacts. Establishing a trusted contact adds an extra layer of security to your account, enabling your financial firm to better safeguard your investments. It's a recommended practice for anyone with an investment account.
Download this handy factsheet on TRUSTED CONTACTS.
Watch a short video that explains what a Trusted Contact is in more detail.
Visit finra.org's webpage for more information.
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