Account Authorization Section

How to add or remove a trading and withdrawal authorization or power of attorney to an account

How to add or remove a trading and withdrawal authorization or power of attorney to an account

Limited trading authority (LTA) and full trading authority (FTA) can be used to grant individuals trading and withdrawal authority on an account. In addition to the trading authority roles, a power of attorney (POA), or a written authorization for a person to represent or act on another's behalf, can be added in limited scenarios. Schwab account holders can grant LTA, FTA, and POA authority to individuals and can link an account to investment advisor firms (advisors) through a Limited Power of Attorney form.

Use the Account Access Digital Workflow with eAuthorization to add an LTA or FTA to an account. For instructions on adding an LTA or FTA role using eAuthorization, see Digital Account Updates clickable guide.


For a complete list of powers of attorney available to add to a Schwab account, see:

  • Advisor powers of attorney
  • Individual powers of attorney

For information about granting View Only access, see How to grant View Only access to Schwab accounts.

To add a trading and withdrawal authorization or power of attorney to a Schwab account, you will need the following:

All accounts
  • A completed Beneficiary Digital Workflow with eAuthorization or Schwab form (the Schwab form required will vary based upon the type of power of attorney being added; refer to the sections below for information on selecting the proper form):
    • Your firm name and master account.
    • The Schwab account number(s) to which the power of attorney will be added.
    • The account holder's name or trust/organization's name for the accounts to which the power of attorney will be added.
    • Adobe® Reader® or Adobe Acrobat® 7.0 or higher (download the latest version on the Adobe website).
    • If adding an authorized agent:
      • Include the authorized agent's name, home address,  identification number Tooltip , birth date, telephone numbers, citizenship status, employment status, employer, occupation, business address, and business phone number.
      • FINRA Rule 3210 Consent Letter is required if the authorized agent is affiliated with a member firm of an exchange or FINRA and Rule 3210 applies.
  • An Options Trading and Margin Application must be obtained from an:
    • Individual LTA, FTA, or POA if the individual will be added to an account with options trading. In addition, each LTA, FTA, or POA must have the investment experience and knowledge necessary for the level of options trading sought. 
    • Investment advisor (master account) on an account approved for same level or higher option trading authority.

 

In addition to the information above, the following role specific information may be required:

Limited power of attorney for a financial advisor (LPFA) Tooltip
  • For most accounts, a completed Limited Power of Attorney (Investment Advisor LPOA) form
  • For a Schwab Personal Choice Retirement Accounts, a completed Personal Choice Retirement Account® (PCRA) LPOA Application for Investment Advisor
  • For 529 Schwab Plan accounts, a completed 529 College Savings Plan Financial Professional Authorization Form
  • For 529 Learning Quest accounts, a completed Learning Quest 529 Plan Financial Professional Authorization Form
  • For international accounts, a completed Power of Attorney for Schwab One International Accounts form
  • A trading master account
Withdrawal power financial advisor (WPFA) Authorized Agent 
  • For most accounts, a completed Limited Power of Attorney (Investment Advisor LPOA) form
  • If upgrading your firm's LPFA to WPFA, a completed Withdrawal Power and Trading Authorization Addendum to Limited Power of Attorney (LPOA) form
  • A trading master account
Withdrawal power financial advisor-custody (WPFA-C)
  • For most accounts, a completed Limited Power of Attorney (Investment Advisor LPOA) form
  • A completed Add Wire Authority with Custody to Existing Authorities form
  • A trading master account
Non-discretionary financial advisor (NDFA) Tooltip  
 
  • For most accounts, a completed Limited Power of Attorney (Investment Advisor LPOA) form
  • A non-discretionary master account
Management fee payment authorization for a financial advisor Tooltip
  • For most accounts, a completed Limited Power of Attorney (Investment Advisor LPOA) form
  • If adding authorization to an LPFA, NDFA, or WPFA, a completed Authorization to Pay Fees to Investment Advisors form
Schwab individual limited or full trading authority

A completed Account Access Digital Workflow with eAuthorization or Trading and Withdrawal Authorization form

Note: Trading and withdrawal authorization form does not require notarization.

Schwab individual power of attorney

This form is only submitted to add an employee of an Advisor firm into a Limited or Full Power of Attorney role.

  • A completed Power of Attorney (Individual POA) form
  • A notary seal Tooltip  on each required form
Schwab Bank: Investor Checking Power of Attorney (POA)
  • A completed Power of Attorney (Individual POA) form signed by all account holders. Power of Attorney must be identical for linked Schwab One and Schwab Bank accounts
  • A notary seal Tooltip  on the form
  • Eligible roles: Full Power of Attorney (FPOA) and Limited Power of Attorney (LPOA)
Durable power of attorney (DPOA)
  • For most accounts, a completed Durable Power of Attorney form
  • For New York residents, a completed Durable Power of Attorney – NY version form
  • For Pennsylvania residents, a completed Durable Power of Attorney – PA version form
  • A notary seal Tooltip  on each required form
  • A physician’s letter of incapacitation: This is only required to open an account where a Schwab DPOA (established using a Schwab DPOA form) is signing the account application. For an external DPOA, a physician’s letter of incapacitation for the principal is not a requirement, unless the DPOA is springing and only becomes effective when the principal is incapacitated.
  • For an external durable power of attorney
    • A completed and notarized Agreement and Affidavit for Non-Schwab Durable Power of Attorney (DPOA) form (for each agent)
    • A copy of the external durable power of attorney agreement
    • If the DPOA is an entity, a completed Organization Account Agreement form (available from your Service team)

For more information, see How to add a Durable Power of Attorney.

Springing durable power of attorney Tooltip
  • An external springing durable power of attorney, drafted and executed by the principal (a Schwab form is unavailable for springing durable power of attorneys)
  • A signed doctor's letter Tooltip  attesting to the account holder's disability or mental incapacity
    • If the instrument specifies a specific number of required doctor's letters for the triggering event, specific requirements for the triggering event to occur, or the need for other or additional documentation, please include supporting documents

This process may be used to add an authorized agent at your firm in a power of attorney role on a client's account based on the power being granted by the client. If you are adding an advisor power of attorney to a managed account, contact the Schwab Managed Account Service team at 877-595-6345 from 9:00 a.m. - 5:00 p.m. (ET) for process information.

  1. Go to the Forms library on Schwab Advisor Center® and select the applicable form below. Click Select, and select Open PDF:
    • Most accounts should use the Limited Power of Attorney (Investment Advisor LPOA) form.
    • Use the Withdrawal Power and Trading Authorization Addendum to Limited Power of Attorney (LPOA) form to upgrade your firm's  limited power of attorney for a financial advisor Tooltip  on a client's account to disbursement authority/withdrawal power financial advisor.
    • Use the Add Wire Authority with Custody to Existing Authorities form to add wire disbursement authority to the standard withdrawal power financial authority (becomes WPFA-C).
    • Complete the Authorization to Pay Fees to Investment Advisors form to add  management fee payment authorization for a financial advisor Tooltip  to a client's account with an existing advisor power of attorney.
    • Schwab Personal Choice Retirement Accounts should use the Personal Choice Retirement Account® (PCRA) LPOA Application for Investment Advisor form.
    • 529 plan accounts should use the Learning Quest 529 Plan Financial Professional Authorization Form or the 529 College Savings Plan Financial Professional Authorization Form.
    • International accounts should use the Power of Attorney for Schwab One International Accounts form.
  2. In completing the form, indicate which advisor authorizations are being granted:
    • For a limited power of attorney for a financial advisor, select the Trading Authorization option.
    • For disbursement authority/withdrawal power financial advisor, select the Trading and Disbursement Authorization option.
    • For  non-discretionary financial advisor Tooltip  (NDFA) authorization, leave all authorization options blank.
    • For management fee payment authorization for a financial advisor, select the Fee Payment Authorization option.
  3. Print the form(s) and obtain dated signatures from all account holders and authorized agent(s). Send the signed form(s) to your Service team via a Schwab Advisor Center service request.

These processes may be used to add Schwab individual limited or full trading authority to a client's account.

  • Using Account Access Digital Workflow with eAuthorization:

See Digital Account Updates clickable guide for instructions on how to add an LTA or FTA with eAuthorization

Using paper forms:

  1. Go to the Forms library on Schwab Advisor Center and select the Trading and Withdrawal Authorization. Click Select, and select Open PDF.
  2. In completing the form, indicate which authorizations are being granted: limited trading authority Tooltip  (LTA) or Full trading authority (FTA).
  3. In addition to the trading and withdrawal authorization form, you may be required to provide additional documentation for trust accounts.
  4. Print the form and obtain dated signatures from all account holders and authorized agent(s). Send the signed form to your Service team via a Schwab Advisor Center service request.

Note: The trading and withdrawal authorization form does not require notarization.

This process may be used to add a Schwab individual power of attorney to a client’s account. An individual power of attorney is only required when the individual agent being added is an employee of an investment advisor or when adding an authorized check signer. Trading and withdrawal authorization for all other individuals can be granted using the limited and full trading authority roles which do not require a notary.
 

  1. Use of this form is limited, and the form is not available through Schwab Advisor Center. To add an employee of an investment advisor as a POA, or to add an authorized check signer, request the Power of Attorney (Individual POA) form from your Service team.
  2. In completing the form, indicate which authorizations are being granted: limited power of attorney (LPOA), full power of attorney (FPOA), authorized check user power of attorney, or both FPOA and authorized check user power of attorney together.
  3. In addition to the Power of Attorney form, you may be required to provide additional documentation for trust accounts
  4. Print the form and obtain dated signatures from all account holders and authorized agent(s). Send the signed and notarized form to your Service team via a Schwab Advisor Center service request.

This process may be used to add a durable power of attorney (DPOA) to a client's account. Depending on the account registration and/or special requirements set forth under the terms of the DPOA, additional documentation may be required. Contact your Service team to confirm you have all the necessary documentation.

  1. Go to the Forms library on Schwab Advisor Center® and select the applicable form below. Click Select, and select Open PDF:
    • Most states: Schwab Durable Power of Attorney form
    • New York: Durable Power of Attorney – NY version form
    • Pennsylvania: Durable Power of Attorney – PA version form
    • For external non-Schwab DPOAs, use the Agreement and Affidavit for Non-Schwab Durable Power of Attorney (DPOA) form and include a copy of the external DPOA document.
  2. Complete all necessary fields.
  3. Print the form and obtain dated signatures from all account holders and authorized agent(s). Send the signed and notarized form and, if adding an external Durable Power of Attorney, a copy of the client's DPOA agreement to your Service team via a Schwab Advisor Center service request.
  • Your client can remove a trading or withdrawal agent or power of attorney by submitting a letter of authorization (LOA) by mail.
  • Service request.
  • Verbal requests are not accepted.
  • To adjust the type of power of attorney their advisor has, your client submits a new Limited Power of Attorney (Investment Advisor LPOA) form.
  • If you want to be removed as power of attorney from your client's account, submit a Delink Request Form or call your Service team.

Once you submit your request:

  • The request is reviewed and processed by your Service team.
  • For durable power of attorney requests, Schwab will review the DPOA instrument to determine whether the document specifically authorizes the agent to act in a manner consistent with the authority necessary to manage the account. Your Service team may contact you for more information and/or documentation if Schwab determines the DPOA does not specifically address the authorities necessary to manage the account.
  • The agent's authority will end with the death of the account holder. The agent's authority may end with the disability or incapacity of the account holder, depending on the type of power of attorney added to the account.
  • Call your Service team if you have questions about adding power of attorney to a client's account.

Go to the Forms library on Schwab Advisor Center and select the forms below:

Form: Durable Power of Attorney
Form: Durable Power of Attorney - NY version
Form: Durable Power of Attorney - PA version
Form: Limited Power of Attorney (Investment Advisor LPOA)
Form: Withdrawal Power and Trading Authorization Addendum to Limited
Power of Attorney (LPOA)
Form: Authorization to Pay Fees to Investment Advisors
Form: Advisor Request to Change Wire Authority
 
Form: Power of Attorney (Individual POA)
Form: Power of Attorney for Schwab One International Accounts
Form: Personal Choice Retirement Account® (PCRA) LPOA Application for Investment Advisor
Form: Agreement and Affidavit for Non-Schwab Durable Power of Attorney (DPOA)
Form: Trading and Withdrawal Authorization
Resource: Durable power of attorney FAQs

How can I add an agent with general power of attorney (GPOA) to my client’s account?
Schwab does not offer a GPOA role. If the POA is non-durable, the agent should be added through the full trading authority (FTA) role. If the POA is durable, the required documentation and review process is the same as it is for durable powers of attorney.

Can I use one form to add trading authority or power of attorney roles to multiple accounts?
Maybe. For most trading authority or powers of attorney, if the accounts have identical account registrations and the agent being added to all accounts is the same individual, you can use one form. If you are adding a durable power of attorney to an account, a separate Durable Power of Attorney form is required for each account.

Can an agent with power of attorney submit a new account application on behalf of a prospective account holder?
A new account application can be submitted only by an authorized agent who has durable power of attorney and must be accompanied by at least one signed doctor's letter Tooltip  attesting to the account holder's disability or mental incapacity.

Can an authorized agent cancel or block lost or stolen Schwab One® cards?
Yes. An authorized agent with full trading authority or full power of attorney may cancel or block lost or stolen Visa® cards. However, the agent must request Schwab issue a new card.

Will a Schwab DPOA also apply to linked Schwab Bank Investor Checking® accounts?
No. The Schwab DPOA does not apply to any Schwab Bank accounts and may not be added to an account with a linked account.

To add a DPOA for a brokerage account with a linked account, submit an external DPOA.

How to grant View Only access to Schwab accounts
How to add a durable power of attorney to an account
Introduction to submitting client documents
Digital Account Updates clickable guide