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Can I use a financial POA to invest for an incapacitated principal? Or do brokerages commonly refuse to do so? i.e. POA must be setup on an account while they are in good health.

My father has Alzheimers, he designated me to be his attorney in fact (financial power of attorney) before he fell ill. I am a successful trader and want to invest some of his money to help pay for his care, ideally with Ameritrade.

It sounds like the best/simplest way to do this is to use the POA to do so, but reading through Ameritrade's documentation I have the impression it would need to be setup before he took ill.

It sounds like Interactive Broker's 'Family Advisor' might be an option. https://www.interactivebrokers.com/en/accounts/family-advisor.php

looking for advice/solutions

thank you

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  • I’m voting to close this question because this is a legal issue.
    – littleadv
    Mar 23, 2022 at 4:16
  • How is IBKR offshore? Their HQ is in Connecticut, USA. They are regulated under the SEC and they are a FINRA member
    – SirHawrk
    Mar 23, 2022 at 6:43
  • Ahh my bad I think I was getting them confused with CMEG Mar 23, 2022 at 20:57

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