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. If you already have coverage that meets the requirement, you can let us know now, and we'll take you off our list. Over time we'll ask you to confirm that you have the required insurance (in fact, you may have already heard from us). 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. 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. 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. 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. 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. You can complete the process in just minutes. 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. Due to the evolving nature of security threats, we are making this safeguard mandatory to log into the site. 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.įor 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.
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