Add a Trusted Contact Person to your account
Things often happen when we least expect them. Don't wait, contact your financial advisor to set up a Trusted Contact Person for your account at Ameriprise Financial.
What is a Trusted Contact Person?
A trusted contact is someone who you can rely on to act in your best interest. They will serve as a contact on your account should a situation concerning your welfare arise. This person must be at least 18 years old and may be a family member, significant other, close friend or personal attorney.
Our goal in identifying a Trusted Contact Person for your account is to help protect you and your personal information.
When would Ameriprise reach out to a Trusted Contact Person?
Ameriprise may notify a Trusted Contact Person in one of the following situations:
- To address possible or suspected financial exploitation involving your account
- To confirm your contact information in the case we have trouble reaching you
- To confirm if there is someone acting as a legal guardian, an executor, a trustee or holder of a power of attorney
- To determine your mental or physical health status
A Trusted Contact Person is not authorized to obtain account information or transact business on behalf of your account.
This person will only be contacted by the firm if one of the scenarios above is present. We will not alert this individual that they have been added as a Trusted Contact Person to your account.
If you inform a Trusted Contact Person of their designation, they will be able to alert Ameriprise Financial to one of the possible scenarios presented above.
Why should I add a Trusted Contact Person to my account?
A Trusted Contact Person is another way of protecting your personal assets when something unexpected happens in your life. It adds an additional level of security to your account.
A Trusted Contact Person is not the same as someone who acts as the representative under a Power of Attorney (POA). It may be beneficial to identify someone who is not already named in your POA. This helps Ameriprise monitor scenarios where financial exploitation may be suspected.
Financial advisors often serve as the first line of defense when it comes to cases of possible financial exploitation. A Trusted Contact Person is another resource to help protect you and your loved ones against financial abuse or scams.
FINRA has published a video and fact sheet relating to the purpose and value of having a Trusted Contact Person connected to your accounts. See the video and fact sheet here:
- Web page with video: https://www.finra.org/trustedcontact
- Fact Sheet: https://www.finra.org/sites/default/files/2021-09/trusted-contact-infographic.pdf
Adding a Trusted Contact Person to your account
How do I add or update a Trusted Contact Person to my account?
Contact your financial advisor today to add a Trusted Contact Person to your account. When you add a Trusted Contact Person, this person will serve as the trusted contact for all accounts with Ameriprise Financial.
Upon adding a Trusted Contact Person to your account, you will receive a suitability confirmation letter from Ameriprise Financial.
What kind of information do you need for a Trusted Contact Person?
- Full name
- Physical address
- Phone number or email address
Or, provide us with some information and our Ameriprise Advisor Center will follow up with you.
At Ameriprise, the financial advice we give each of our clients is personalized, based on your goals and no one else's.
If you know someone who could benefit from a conversation, please refer me.
Background and qualification information is available at FINRA's BrokerCheck website.