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 are now requiring two-factor authentication for all Schwab Advisor Center users.

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.

November 2022 (1122-20T1)


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)


1. Requires a wireless signal or mobile connection. System availability and response times are subject to market conditions and mobile connection limitations. Functionality may vary by operating system and device.

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)

August 2023 (0823-3897)

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.

Charles Schwab & Co., Inc. and Charles Schwab Bank are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation. Brokerage products, including the Schwab One® brokerage account, are offered by Charles Schwab & Co., Inc., Member SIPC. Deposit and lending products are offered by Charles Schwab Bank, Member FDIC and an Equal Housing Lender.

Schwab affiliates earn revenue from the underlying assets in Institutional Intelligent Portfolios® accounts. This revenue comes from managing Schwab ETFs™ or Schwab Funds® and providing services relating to certain third-party funds that can be selected for the portfolio, and from the cash feature on the accounts. Revenue may also be received from the market centers where ETF trade orders are routed for execution. Tax-loss harvesting is available for clients with invested assets of $50,000 or more in their Institutional Intelligent Portfolios account. Clients must be enrolled to receive this service. Cash balances held in the Sweep Program at Schwab Bank are eligible for FDIC insurance up to allowable limits per depositor, per account ownership category.