To ensure that the assets of our clients are never in the wrong hands, our client’s investment assets are custodied at Charles Schwab & Co. which custodies a total of $10 Trillion as of Dec 31, 2024.
- Every account comes with Schwab’s Security Guarantee, which states: “Schwab will cover losses in any of your Schwab accounts due to unauthorized activity.”
- Accounts at Schwab are insured by the Securities Investor Protection Corporation (SIPC) up to $500,000 of protection for brokerage accounts held in each separate capacity (e.g., joint tenant or sole owner), with a limit of $250,000 for claims of uninvested cash balances.
- Additional brokerage insurance—in addition to SIPC protection—is provided to Charles Schwab & Co., Inc. accounts through underwriters in London. Schwab’s coverage with Lloyd’s of London and other London insurers, combined with SIPC coverage, provides protection of securities and cash up to an aggregate of $600 million, and is limited to a combined return to any customer from a Trustee, SIPC, and London insurers of $150 million, including cash of up to $1,150,000. This additional protection becomes available in the event that SIPC limits are exhausted.
- We never have standing authority to move assets between accounts unless the names and social security numbers on both accounts match. Any 3rd party transfers require signed paperwork by the client.
