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An Added Layer of Protection For Investors: Nominate Your Trusted Contact Person

May 6, 2022

With a rise in sophisticated cybercrimes and with increasing concerns over the financial well-being of investors, especially as we age, the “trusted contact person” (TCP) has been introduced to help provide an extra layer of protection. The TCP is someone you appoint and for which we have your written consent to contact if we have concerns about the decision-making on your accounts or if we are unable to contact you. The TCP has no legal authority to make any financial decisions or direct transactions on your account. They do not replace a trading authority or power of attorney appointed to act on your behalf. While you may not feel that there is a current need for a TCP, implementing this safeguard now may help to provide protection down the road.
As such, it is recommended to select someone who is trusted, mature, and knowledgeable about your personal situation and support network. This individual should be capable of speaking with you, and to us, about your well-being and potentially sensitive topics such as your physical or mental health status. It may be beneficial to select someone who is familiar with you on a consistent basis and has no potential authority now or in the future. You are able to change who you designate or revoke designations at any time.
For more information, or to nominate a TCP for your existing accounts, please get in touch.

The information contained herein has been provided for information purposes only. Graphs, charts and other numbers are used for illustrative purposes only and do not reflect future values or future performance of any investment. The information has been provided by J. Hirasawa & Associates and is drawn from sources believed to be reliable.
The information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual’s objectives and risk tolerance. This does not constitute a recommendation or solicitation to buy or sell securities of any kind. Market conditions may change which may impact the information contained in this document. Wellington-Altus Private Wealth Inc. (WAPW) and the authors do not guarantee the accuracy or completeness of the information contained herein, nor does WAPW, nor the authors, assume any liability for any loss that may result from the reliance by any person upon any such information or opinions. Before acting on any of the above, please contact me for individual financial advice based on your personal circumstances. WAPW is a member of the Canadian Investor Protection Fund and the Investment Industry Regulatory Organization of Canada.
©️ 2023, Wellington-Altus Private Wealth Inc. ALL RIGHTS RESERVED. NO USE OR REPRODUCTION WITHOUT PERMISSION

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The opinions contained herein are the opinions of the author and readers should not assume they reflect the opinions or recommendations of Wellington-Altus Private Wealth. Assumptions, opinions and information constitute the author’s judgement as of the date this material and subject to change without notice. We do not warrant the completeness or accuracy of this material, and it should not be relied upon as such. Before acting on any recommendation, you should consider whether it is suitable for your particular circumstances and, if necessary, seek professional advice. Graphs and charts are used for illustrative purposes only and do not reflect future values or future performance of any investment. The information does not provide financial, legal, tax or investment advice. Particular investment, tax, or trading strategies should be evaluated relative to each individual’s objectives and risk tolerance. All third party products and services referred to or advertised in this presentation are sold by the company or organization named. While these products or services may serve as valuable aids to the independent investor, WAPW does not specifically endorse any of these products or services. The third party products and services referred to, or advertised in this presentation, are available as a convenience to its customers only, and WAPW is not liable for any claims, losses or damages however arising out of any purchase or use of third party products or services. All insurance products and services are offered by life licensed advisors of Wellington-Altus.