June 15th is World Elder Abuse Awareness Day and the Financial and Consumer Affairs Authority of Saskatchewan is encouraging Sasktchewan residents to consider naming a Trusted Contact Person. They suggest providing that information to your registered financial advisor to help protect your financial assets in the future.

A TCP is someone you authorize your registered financial advisor to contact in certain circumstances. For instance, if you have a TCP, your registered financial advisor may need to contact them if they are having difficulty contacting you; they are concerned you are vulnerable and being financially exploited;you have a health issue and they need to confirm your wellbeing; or they need confirmation of your legal representative(s).

The FCAA says this person should be someone you trust and someone who is capable of handling difficult conversations about your personal situation.