Why do I need to declare my affiliations?
When opening a Wealth account, we ask if you or someone close to you work for or are connected to an investment firm or a publicly traded company. This is a standard requirement to make sure we stay compliant with financial regulations.
Being affiliated doesn’t mean you can’t use our investment services. It just means we might need a bit more information, like a letter of consent from your employer, before we can approve your account.
What is an investment firm?
An investment firm is a company that's received official approval from a regulatory body to provide investment services, for example, investment management, financial advisory, and brokerage services, such as securities trading, etc.
What is a publicly traded company?
A publicly traded company is a company whose shares are available to be bought and sold by the public on a stock exchange or other trading platforms.
What does 'someone close to you' mean?
'Someone close to you' typically refers to a person with whom you have a close personal relationship, such as an immediate family member, like a spouse, child, or partner, or a close friend.
What should the letter of consent include?
The letter must:
Be written on your employer’s official letterhead
Be signed by their compliance officer
Clearly state they approve the creation of your investment account
What if I said I’m affiliated by mistake?
No worries - just reach out to our team via the in-app chat or email us at help@dappinv.com, and we’ll help you sort it out so you can complete your onboarding.