Schwab will cover 100% of any losses in any of your Schwab accounts due to unauthorized activity.
The highest levels of security are only possible when we work together. To ensure your protection under this guarantee, it is your responsibility to:
- Safeguard your account access information. If you share this information with anyone, we’ll consider their activities to have been authorized by
- Report any unauthorized transactions to us as quickly as possible.2 If you suspect you are a victim of fraud, please contact us immediately at 888-3-SCHWAB.
- There may be other individuals to whom you grant authority in your Their activities in your account will also be considered authorized.3
Additional information on The Schwab Security Guarantee: Do I have to do anything to get this protection?
No. Schwab automatically provides this protection.
How does this guarantee work?
If you suspect you have been a victim of unauthorized activity in your Schwab account, notify Schwab at 888-3-SCHWAB immediately. We will promptly review your claim and assist you in taking measures necessary to protect you from further loss. You will be required to complete a notarized affidavit of fraud and to identify items of unauthorized activity.
Does the guarantee apply to Schwab Bank?
Yes. The guarantee applies to all Schwab Bank products. If you suspect you have been a victim of unauthorized activity in your Schwab Bank account, notify Schwab at 888-3-SCHWAB immediately. If an unauthorized advance is made on your Schwab Bank loan account, you will not be responsible for repaying the amount of the unauthorized advance or any related interest or transaction charge.
Does the guarantee apply to my Schwab retirement plan accounts?
This guarantee applies to all individual retirement accounts held at Schwab. It also applies to individual accounts of employees participating in employer-sponsored retirement, equity compensation, deferred compensation and other benefit plans (“Employee Benefit Plan Account”), where Schwab maintains the account and holds the account assets. However, keep in mind that transactions initiated by your employer, third party plan administrator (other than Schwab Retirement Plan Services, Inc. or Schwab Retirement Plan Services Company), trustee (other than Schwab Bank) or each of their employees, representatives or agents who have access to your account , or other people to whom you have granted authority to access your account or to act on your behalf, are considered authorized and not covered.
Does the guarantee apply to accounts managed by independent investment advisors doing business with Schwab Advisor Services?
Yes. The coverage applies to unauthorized account activity in client accounts managed by independent investment advisors. However, keep in mind that transactions initiated by your investment advisor or other people to whom you have granted authority to act on your behalf are considered authorized and not covered.
Does the Guarantee apply to my annuities or 529 college savings plan accounts?
No. Annuities and 529 college savings plan accounts are not included because the assets are maintained by or held at a third party and Schwab cannot be responsible for any failure of those third parties to safeguard your information or protect your account.
Denver Private Wealth Management is an independent fee-based financial planning practice with 50+ years of experience in the financial industry. DWPM customizes portfolios based on your financial goals and works closely with you, your tax advisors and estate attorneys to form a comprehensive view of your financial situation. For more information or to set up a free consultation, contact us at email@example.com.
PAST PERFORMANCE IS NOT A GUARANTEE OF FUTURE RESULTS. The information, analysis, and opinions expressed herein are for general and educational purposes only. Nothing contained in this commentary is intended to constitute legal, tax, accounting, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. All investments carry a certain risk, and there is no assurance that an investment will provide positive performance over any period of time. Investors should consult with an investment advisor to determine the appropriate investment vehicle. Investment decisions should always be made based on the investor’s specific financial needs and objectives, goals, time horizon and risk tolerance. The statements herein are based upon the opinions of Denver Private Wealth Management (Denver PWM) and third party sources. Information obtained from third party resources are believed to be reliable but no guaranteed. All opinions and views constitute our judgments as of the date of writing and are subject to change at any time without notice. Denver Private Wealth Management offers Investment Advisory Services through Vista Private Wealth Partners, LLC, a separately SEC registered investment advisor. Brokerage Securities and Insurance are offered through First Financial Equity Corporation. First Financial Equity Corporation is a member FINRA/SIPC.