To Protect Yourself And Clients, Rethink Trusted Contacts

I get the best ideas for my articles from the questions advisors ask during my presentations, and this article is no exception.

The speaking engagement was "Seniors, scams and fraudsters" and how to fulfil your duty as advisor to your senior clients. I had no time during my 45-minute presentation (quite long enough for the audience to listen to a lawyer!) to go into the topic of trusted contact person (TCP), but I did squeeze one bullet point into a slide, saying that the TCP and power of attorney (PoA) must be different people.

I had time for only one question at the end of my session, and I chose a deserving advisor who had the guts to sit in the front row of the huge hall. He asked me why the TCP and PoA had to be different people. What a great question!