Charles Schwab is a brokerage firm offering investment services, trading, and wealth management solutions.
Usage: How We Use Charles Schwab
Schwab is our custodian and clearing platform to safeguard client assets and facilitate transactions; sucha as holding and clearing client assets on our behalf.
How Schwab Supports Balefire & Our Clients
- Custodian of Client Assets:
- Schwab acts as the custodian, meaning they securely hold and protect client funds and investments but do not manage them.
- All accounts, cash transfers, and trade settlements happen within Schwab’s system, ensuring proper compliance and security.
- Clients receive account statements, tax documents, and trade confirmations directly from Schwab.
- Trade Execution & Clearing:
- While all trading, portfolio management, asset allocation, and strategy decisions are handled through Orion, Schwab is responsible for clearing and settling trades placed on behalf of clients.
- Schwab ensures best execution practices, meaning transactions are processed efficiently and securely, but they do not dictate investment strategy or asset selection—this is Orion/Town Square OCIO’s responsibility.
- Technology & Account Access:
- Schwab integrates with Orion to provide seamless access to real-time account balances, holdings, and transaction data.
- Clients can use Schwab’s online portal and mobile app to view their account details, balances, transaction history, and statements.
- Orion remains the primary platform for performance reporting, portfolio analytics, and billing.
- Client Service & Support:
- Schwab provides back-office support for account setup, cash transfers, and distributions but does not manage investments.
- Clients needing assistance with account access, statements, or general inquiries can contact Schwab’s dedicated support team.
- Regulatory Compliance & Security:
- Schwab ensures all client accounts comply with SEC and FINRA regulations, providing SIPC insurance coverage to protect client assets in case of broker failure.
- Schwab also maintains secure transaction processing to prevent fraud and unauthorized account activity.
Accessing Schwab – VIP Access App Required
To access Schwab’s Advisor Platform, employees must download and set up the “VIP Access” app for multi-factor authentication. This app generates a security code needed for logging in.
Steps to Set Up Schwab Access
- Download the VIP Access app from the App Store (Apple) or Play Store (Android).
- Open the app and register your device.
- Use the one-time security codes generated by the app to log into Schwab securely.
Schwab Advisor Services Contact Information
- Advisor Services Group:
- Phone: 877-774-3892
- Advisor Platform Support (APS) – Technical Support
- Hours: Mon.–Fri., 8 a.m.–7 p.m. ET
- Phone: 800-647-5465
- Fax: Use Service Requests
- Email: Use Service Requests
What This Means for Balefire Employees:
- Schwab is solely our custodian and clearing platform — they do not manage portfolios, execute investment strategies, or handle billing and reporting (all of these functions are managed through Orion).
- All client trades originate from Orion, and Schwab’s role is to process and settle those trades securely.
- Employees should be familiar with Schwab’s role in asset custody, as well as Orion’s function in portfolio management, trading, performance reporting, and billing.
- Secure login is required, and employees must have the VIP Access app installed to access Schwab’s systems.
By leveraging Schwab’s trusted custodial services alongside Orion’s portfolio management and CIO services, Balefire ensures that our clients receive secure, efficient, and compliant investment management while we maintain full control over portfolio strategies and performance tracking.