A trusted contact person (TCP) is someone we can reach out to if we have concerns of possible financial exploitation or diminished mental capacity. 

Selecting a TCP is optional and is intended as an additional layer to help protect clients in the event that CI Direct Investing has concerns about its client’s mental capacity or concerns of potential financial abuse. By naming a TCP, CI Direct Investing can contact the individual selected in case they have a concern about your account, primarily due to the reasons listed below. 

When would a trusted contact person be contacted by us?

The TCP can only assist with any concerns that CI Direct Investing may have, such as mental capacity related to financial decisions, possible involvement in a financial scam, or trying to identify a legal representative.  The TCP cannot make any financial decisions on your account and CI Direct Investing will not share any information about your accounts with the TCP.

Who needs a trusted contact person? 

Everyone! As much as this tool is a safeguard for vulnerable clients, no one is able to predict the future. You hope to never need it, but if a situation arises where it can help you’ll be glad to have the extra measures.  

Who should be a trusted contact person? 

The TCP should be an individual over the age of majority. As a matter of good practice, the TCP should not be an individual who has an interest in your account and should not be involved in making financial decisions with respect to your account, such as a Power Of Attorney (POA) but is close enough, that he or she is familiar with your personal well-being. This might be a cousin, a neighbour, a sibling, or niece/nephew. We recommend that a different individual be named as your TCP than your POA, however, it is recognized that this may not always be possible.

Additional considerations may include:

• Someone who you trust
• Someone who is mature and able to discuss potentially emotional topics
• Someone who has the ability to communicate and be proactive
• Someone who knows specific details regarding your well-being, including your mental or physical health status or whereabouts

This person can change over time, you can change who you designate or even revoke designations entirely at any time.

How to name a trusted contact person? 

To name a TCP, please log in to your Dashboard and go the Trusted Contact Person section of your profile page. From there, you will be able to name a TCP. This is also where you will be able to remove or make changes to your TCP.

Contact us if you need any assistance.

I understand that CI Direct Investing may contact the TCP for the following reasons:

1. If there are questions or concerns about my whereabouts or health status;

2. If CI Direct Investing suspects that I may be a victim of fraud or financial exploitation;

3. If CI Direct Investing suspects that I might no longer be able to handle my financial affairs;

4. To confirm the identity of any legal guardian, executor, trustee, authorized trader, or holder of a power of attorney; or

5. If CI Direct Investing has any other concerns or is unable to contact me about my account(s) held with CI Direct Investing.

Definitions

“Financial exploitation” means, in respect of an individual, the use, control or deprivation of the individual’s financial assets through undue influence or wrongful or unlawful conduct.

“Mental capacity” means the ability to understand information or appreciate the foreseeable consequences of a decision or lack of a decision.

“Vulnerable client” means a client of a registered firm or a registered individual who may have an illness, impairment, disability or aging process limitation that places the client at risk of financial exploitation.

Anti-Fraud/Consumer Protection Resources