Schwab Technical Difficulties

As of 12:43 PM EST Schwab Brokerage has reported difficulties with their brokerage website. The difficulties do not seem to extend to the Street Sense platform, or the mobile app but as of now P&L calculations do not seem to be accurate on the Schwab website. The notice advises clients to use the phone service to make trades for now, but does not mention any adjustment to the fee structure. Remember that commissions on broker assisted trades (phone trades) are at least 5x higher than trades placed online.

Since Street Sense is still functional I advise any Schwab clients to restrict trading activities to that platform.

 

EDIT: Schwab Money Market Funds seem to be the affected service. I am unable to access daily returns, or even basic information on those assets through either the website or Street Sense. While we have no assets in any of those funds if you do I recommend contacting your assigned consultant. Their contact information is still available from the website under the “my consultant” drop tab on any page.

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