Trump Accounts auto-opened Oct. 1 but have your clients claimed theirs?
Action Required: Advisors should audit client portfolios to identify if these accounts were auto-opened and ensure clients have taken the necessary steps to claim them to allow for funding.
New 'Trump Accounts' (likely referring to specific 529 or similar savings vehicles) were auto-opened on October 1, but many remain unclaimed by clients. Financial advisors need to proactively verify if their clients have claimed these accounts, as unclaimed status prevents the funding of these vehicles via family contributions, divorce settlements, or employer gifts.
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