Date Posted: 
Thursday, September 30, 2021


Your financial firm may request that you give them the name and contact information of a trusted contact. While it is not mandatory that you do so, the Washington State Department of Financial Institutions encourages you to consider providing the name of someone you trust as a contact on your accounts.

What Is A Trusted Contact?

A trusted contact is a person you authorize your financial firm to contact in limited circumstances, such as if there is a concern about activity in your account and they have been unable to get in touch with you.

A trusted contact may be a family member, attorney, accountant or another third-party who you believe would respect your privacy and know how to handle the responsibility. You may establish more than one trusted contact.

Who Should Have One?

We suggest a trusted contact for anyone who has an investment account.

How Can A Trusted Contact Help Me?

Maybe your investment professional needs to get in touch with you but can’t when:

  • You are traveling
  • There is a natural disaster
  • There is a concern about fraud
  • You are having a health issue

Things Your Trusted Contact Cannot Do

  • Your trusted contact CANNOT make trades in your account
  • Your trusted contact CANNOT make decisions about your account
  • Being a trusted contact DOES NOT make them a power of attorney, legal guardian, trustee or executor


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