What's New: Security

Schwab Advisor Center® has digital tools and resources to help you onboard new relationships, support your clients, and scale your business. Below you can learn about the latest enhancements and resources, or explore recent updates by clicking on a topic.

Enhanced security requirements for all logins help keep your firm and clients safe

As part of our ongoing effort to protect your clients and firm, we will begin requiring two-factor authentication for all Schwab Advisor Center users later this year.

For years we have required two-factor authentication for users with access to trading, move money, and other sensitive areas of the site and have encouraged it for other Schwab Advisor Center users. Due to the evolving nature of security threats, we are making this safeguard mandatory to log into the site.

If you have not yet set up two-factor authentication for your account, click the Welcome menu at the top of the screen, choose Authentication Device, then follow the simple instructions. You can complete the process in just minutes.

To ensure that there are no interruptions to your firm's daily workflow, we ask that you encourage everyone to perform this update as soon as possible.

If your firm uses authentication devices other than the Symantec VIP app and you need additional devices for users who have not yet activated two-factor authentication, please contact your firm's security administrator, who can order more from Schwab.

September (0922-24YE)

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Get ready: Schwab's new insurance requirement

We're guessing you have insurance for your car, your home, and your health—but what about your business? Financial firms are appealing to fraudsters, and incidents aren't slowing down. Sure, you probably have a well-rounded cybersecurity plan in place (if you don't, why not?), but having the right insurance can be a powerful tool in your effort to protect your clients' assets.

That's why we implemented a new insurance policy requiring that all advisory firms that work with us carry an aggregate minimum of $1 million of insurance coverage to protect against errors and omissions, social engineering, theft by hackers, and, if applicable, theft by employees.

Over time we'll ask you to confirm that you have the required insurance (in fact, you may have already heard from us). If you already have coverage that meets the requirement, you can let us know now , and we'll take you off our list.

It's okay if you don't yet have insurance that meets the requirement, but we suggest that you get started now—it can take about 90 days to get the right coverage in place. We have some materials that can help on our insurance resource page.

April 2022 (0422-2URE)


Security update requires new login

In the coming weeks, your Schwab Data Delivery® program will download an update that will require you to re-enter your login credentials to access your data downloads for additional security. After March 8, please close and then re-open the software to ensure that the application has implemented this update. Once it has restarted, you'll see a login screen requiring your username and password.

If your account leverages two-factor authentication, be sure to enter the extra one-time code on the screen that appears after you enter your username and password, just as you would when logging into Schwab Advisor Center.

Entering your credentials is required only the first time you log in after the update, after which you can continue using the Schwab Data Delivery app as usual.

February 2022 (0222-2H0D)


Protecting your firm and clients from external and internal security threats

With the New Year come both new opportunities and, of course, new and evolving cybersecurity and fraud threats. As you know, criminals are constantly enhancing their approaches to leverage new technologies to obtain information and assets illegally—and your firm and clients are valuable targets.

As part of our ongoing effort to provide the information you need to stay up-to-date and combat the latest threats, we invite you to our first cybersecurity webcast of 2022.

On February 2, join us for an update on the latest fraud trends, as well as how Schwab is working with firms and their clients to combat them. Schwab experts will show you how you can protect your firm and clients from external threats and even the threat of malicious action by your firm's own employees.

January 2022 (0122-19CM)


Keep cybersecurity strong as you return to the office.

As many firms plan to bring staff back to the office, it's important to review your cybersecurity policies and controls to make the transition as smooth as possible.

  1. Communicate your policies. It's important to ensure that employees don't fall into risky habits like using personal email accounts and devices for work correspondence and files. Consider whether to limit or ban these practices and make that policy clear to your staff.
  2. Double-check your details. Many scammers are attempting to change destination details for an asset transfer requested via email. When you confirm a request with your client, be sure to verify the destination, disbursement, and wire instructions to guard against fraud.
  3. Update your devices. Equipment that's been sitting in the office unused should immediately be updated and patched to ensure compliance with the latest software and app security enhancements.
  4. Scan for unauthorized software. Any devices that have not been locked down to prevent installation of new programs may contain unauthorized apps installed since you last used them. Scan for and remove such software before you allow these devices to connect to your network. And once they're clean, lock down installation privileges to the appropriate administrators.
  5. Update your inventory. Many firms purchased new equipment to facilitate employees' work-from-home setups. Be sure to add these items to your firm's hardware inventory. Also enumerate any new third-party and cloud-based vendors.

To develop a detailed action plan to enhance your firm's cybersecurity and uncover potential gaps, enroll in our Strengthen Your Cybersecurity Program series.

October 2021 (1021-1K1T)

 

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More ways to safeguard your firm

With fraud and cybercrime on the rise and the ongoing trading volatility we've seen throughout the industry, it's imperative to evaluate how well your firm is protected. Too many events have occurred over the past several years that have had an adverse impact on registered investment advisors (RIAs) and their clients.

Today insurance that protects your RIA firm and your clients' assets from devastating losses is essential. There are three different types of insurance that RIA firms should consider: errors and omissions, fidelity bonds, and cyber insurance.

Learn more about the three types of insurance every firm should consider and make the right choice to protect your firm and your clients.

September 2021 (0921-1PD2)


Enjoy access to new content and upgrade your password and security questions

As part of the ongoing effort to strengthen our security protocols and provide a great experience when working with Schwab, over the coming weeks we will be introducing a new login experience for all users of Schwab Advisor Center. Enhancements focus on two areas:

  • Enhancing the login page with rich content designed specifically for advisors
  • Requiring all users to update their passwords and security questions

First we will be rolling out a new look and feel for the login page that includes the best of the rich content that’s currently available on advisorservices.schwab.com. This enhancement makes it easier than ever to find up-to-date information designed to help you serve clients and run your business—from the same page you use to log in and work with Schwab—so we encourage you to bookmark the new page as soon as you have access.

We are also requiring all users who have not updated their password and security questions since November 20, 2020, to do so before June 9. You can use the Forgot Password? link on the login page to complete this process in minutes. Those who haven’t yet done so will see a popup prompting them to set a new password and security questions before the deadline. After the deadline, users will not be able to access the site until they have made these updates.

May 2021 (0521-1N6V)

To reset your password and security questions, you can click the Forgot Password link on the login page. Or, after login, click the Welcome menu and select Password or Security Question to update your credentials.

Upgrade your account protection today

As part of our ongoing effort to enhance the security of Schwab Advisor Center, we are implementing additional requirements for users with permission to transact through the Trading and Move Money tabs.

Soon all users who have either of these tools will be required to use two-factor authentication every time they log in. This change in policy will help protect your firm and clients from unauthorized access to sensitive areas of the site.

Getting access takes just minutes:

  • Download the Verisign app from your device’s app marketplace.
  • Log in to Schwab Advisor Center.
  • Click the Welcome [your name] drop-down menu, select Authentication Device, and follow the simple instructions to activate your device.

If you can't use an app, your firm’s security administrator can order a onetime password token from Schwab.

Later this month, anyone with trading or move money access who does not currently use two-factor authentication will be prompted to activate it whenever they log into Schwab Advisor Center. Beginning June 21, these users will not be able to log in until they add two-factor authentication or remove their trading or move money permissions.

May 2021 (0521-1N6V)

To activate two-factor authentication, click the Welcome menu at the top of the screen and select Authentication Device. Download the Symantec VIP app from your device's store, open it, find the Credential ID and Security Code and enter them in the fields, then click Enroll.

From inventory to action plan, build a stronger cyber program with our on‑demand series

With strategic guidance delivered through flexible and intuitive learning experiences, Virtual Practice Management programs empower you to improve and grow your business. Our Strengthen Your Cybersecurity Program series helps you uncover potential cybersecurity gaps and develop a detailed action plan to strengthen and maintain your firm's cybersecurity program.

Cyber 101

Lay the groundwork for your cybersecurity program with an introduction to the current cybersecurity landscape—then take stock of your firm's cybersecurity infrastructure.

Cyber 201

Leverage an industry-recognized framework to assess your cybersecurity program's current state and uncover opportunities for improvement.

Cyber 301

Establish and execute a detailed action plan to serve as a blueprint to focus your efforts, document your progress, and communicate with your stakeholders.

Register today >

April 2021 (0421-1NKM)

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(1221-1B19)

For advisor use only. For general educational purposes.

Any investments reflected are for illustrative purposes only and are not intended to be nor should they be construed as a recommendation to buy, sell, or continue to hold any investment. Screen shots are for illustrative purposes only, may be historical in nature, and should not be used as a basis for any investment decision.

Schwab Advisor Services™ includes the custody, trading, and support services of Charles Schwab & Co., Inc. ("Schwab"), a registered broker-dealer and member SIPC, and the technology products and services of Performance Technologies, Inc. ("PTI"). PTI and Schwab are separate companies affiliated as subsidiaries of The Charles Schwab Corporation, but their products and services are independent of each other. PTI’s integration solutions integrate data about accounts custodied at Schwab.

API integration is available through Schwab OpenView Gateway®, which is provided by PTI. Single sign-on is provided by PTI. Daily data files and trading integration are available through Schwab. Schwab OpenView Gateway® and Schwab OpenView MarketSquare™ are services of PTI.

References to third parties (whether such parties are vendors participating in a service of PTI or independent advisors using a service of a participating vendor) are not an endorsement or recommendation of, or an opinion (favorable or unfavorable), or advice about, or a referral to any product or service of any third party. Advisors are solely responsible for evaluating, selecting, and purchasing products and services offered by third party vendors. Unless indicated otherwise, third parties are independent and not affiliated with PTI or its affiliates.

Schwab Performance Technologies® ("SPT") provides technology solutions to independent investment advisors, while Schwab provides them and their clients with custody, trading, and related support services. SPT and Schwab are separate companies affiliated as subsidiaries of The Charles Schwab Corporation, but their products and services are independent from each other.

Schwab Advisor Portfolio Connect™ is a product of SPT.

Institutional Intelligent Portfolios ("IIP") is a technology and service platform made available by SPT to independent advisors who maintain a business relationship with Schwab Advisor Services.

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