Compliance Memo

CM_2022-01; New Trusted Contact Person Form

For more information, contact:

Compliance Team

Date Issued:

January 4, 2023

As you know, amendments to National Instrument 31-103 come into effect on January 1st, 2022 requiring a Financial Advisor and GP Wealth Management to take reasonable steps to obtain from a client the name and contact information of a Trusted Contact Person (TCP).

With written consent from a client, a Financial Advisor or supervisory staff may contact the TCP to inquire about or confirm any concerns such as:

  • the possible financial exploitation of the client
  • the mental capacity of the client as it relates to making a decision involving financial matters
  • the name and contact information of a legal representative of the client, if any
  • the contact information of the client

To meet this new requirement, a new stand-alone Trusted Contact Person Form has been created to be used to “Add”, “Update” or “Remove” a TCP.

The amendments also require reasonable steps to keep the TCP information current.

To support the new requirement, the New Account Application Form (NAAF) and Know-Your-Client Form (KYCF) have been updated to include a question asking a client whether they would like to appoint a TCP.

If a client responds “Yes”, then a TCP Form must be completed and included with the NNAF or KYCF.

The form is available in W.investment as a prefill form and the Advisor Document Centre on your website. Click here to download the new Trusted Contact Person Form.

As always, if you have questions or comments, contact the Compliance Department by email at