Establish a Trusted Contact

We want you to be prepared for all of life’s possible outcomes, and so does the SEC, as reflected by new best practice recommendations.


We at Karp Capital have always stressed to our clients the importance of planning, which is why we encourage you to maximize your retirement savings, insure your assets, and have an estate plan in place for your heirs. However, oftentimes not everything is clear cut when it comes to your health and your finances.


A way to protect your interests in case of emergency


The SEC’s new guidelines encourage advisors to obtain contact information for someone who can help you, and us, in the event of a health event or life-threatening emergency. The SEC’s main focus for these new rules is related to an effort to curb the proliferation of elder abuse, by ensuring we have someone to contact if we notice signs of diminished mental capacity or undue influence. 


While your privacy is of utmost concern to us, there are rare instances when we may need to contact someone if we think you need assistance. This initiative would allow us to provide certain details to the “trusted contact” you declare, in order to check in on your health and safety. However, this information is important for us to have for a myriad of reasons, such as in the event you’re unable to manage your own finances due to a medical emergency.



Another aspect of industry compliance is maintaining current records and information about all of our clients. Please be on the lookout for an email from Karp Capital with a questionnaire in which we ask you to designate a “Trusted Contact”, as well as other personal information to update our records. There are mechanisms and strategies you can put in place to ensure that your assets are protected if the unforeseeable were to occur.


We can help you organize your financial affairs


Let us know if you’re in need of updating your trust, power of attorney, will, or other estate planning documents. We’ll work with your existing estate planning attorney to make sure they have all the information they need. If you don’t have an attorney, we can introduce you to one who is likely to be a good fit based on the complexity of your needs and wishes.