Question by EventPro: Does the Patriot Act require me to give a copy of my license to my wealth manager?
I have a retirement plan through my employer that is changing hands. I don’t trust this new “wealth manager” and she says that by law, I must give her a copy of my license. I don’t know why, but this seems creepy to me. Does anyone know if what she says is true?
Answer by JayMonster
Any agency that handles money transaction must verify the identity of individuals to help ensure that this person is not attempting to launder, hide transfer money.
So, she must be able to Positively Identify you, but if you have a Passport or other VALID picture ID that should suffice should you not wish to provide her with a driver’s license.
Add your own answer in the comments!