Estate planning at moomoo

It is the only person a moomoo customer can name, and it is not a beneficiary. Under FINRA Rule 4512(a)(1)(F), moomoo lets a customer provide a Trusted Contact Person by emailing the name and contact information to cs@us.moomoo.com; the contact must be 18 or older, and providing one is optional. The Trusted Contact inherits nothing and cannot trade or transact. What it does do is documented in section 11.7 of the Customer Agreement: moomoo may contact that person to confirm the customer's whereabouts or health status, if it suspects financial exploitation or diminished capacity, or "to confirm the identity of any legal guardian, executor, trustee, authorized trader, or holder of a power of attorney." For an online-only broker with no branch and no estate department, that identity-confirmation channel is genuinely useful to a family, which is why naming one is worth doing even though it transfers no assets.