Managed Account Platform Section

How to update managed account authorizations, restrictions, and reports

How to update managed account authorizations, restrictions, and reports

The Schwab Advisor Services™ managed account platform allows account holders to define and update their preferences for delegation of advisor authorizations (DOAA), investment restrictions Tooltip , and trade confirmation reports  (TCRs) after the account has been opened.

Preferences are initially defined during the account opening process for Managed Account Select® (Select), Managed Account Access® (Access), or Managed Account Marketplace® (Marketplace) accounts. You can update your client's preferences anytime using DocuSign® or paper forms. Forms may not be eSigned by an authorized agent at your firm; they may be eSigned only by the client.

Required

All accounts
  • Your firm name, contact information, and managed account master
  • Account holder's name, managed account numbers, co-trustee or authorized individual's name, and name of trust or organization (if applicable)
  • Adobe® Reader® or Adobe Acrobat® 7.0 or higher (download the latest version on the Adobe website)

 

Conditional

All accounts
  • If adding a managed account to an existing TCR subscription: the Schwab account number in the subscription
  • If using DocuSign to submit forms:
    • For existing Schwab clients, a complete Schwab Advisor Center® profile with the account holder's current email address and mobile phone number
    • For new-to-Schwab clients, the email address and a mobile phone number
    • All clients must use both text message (SMS) authentication and Knowledge Based Authentication (KBA) for DocuSign
Select or Access accountsIf updating investment restrictions: the name of the investment strategy

This process may be used to update the DOAA Tooltip  on your client's existing Select, Access, or Marketplace accounts.

  1. Go to the Forms library on Schwab Advisor Center and select the applicable form below. Click Select and open the PDF
    • Managed Account Select/Access Delegation of Advisor Authorization
    • Managed Account Marketplace Delegation of Advisor Authorities
  2. Complete the form and obtain signatures:
    • For forms eligible for DocuSign, see How to use DocuSign
    • For forms not eligible for DocuSign, print the form and obtain signatures from each account holder, trustee, authorized individual, or custodian
  3. Send the signed form to Managed Account Operations via a Schwab Advisor Center service request, fax, or mail:
East CoastWest Coast
Fax: 877-828-1176Fax: 877-815-3479
Regular mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
P.O. Box 2380
Omaha, NE 68103
Regular mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
P.O. Box 982603
El Paso, TX 79998-2603
Overnight mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations 
200 S 108th Ave
Omaha, NE 68154
Overnight mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
1945 Northwestern Drive
El Paso, TX 79912-1108

This process may be used to update  investment restrictions Tooltip  for clients with existing Select and Access accounts. For clients with Marketplace accounts, contact the designated money manager on the account directly to request updates to their investment restrictions.

If your firm has been granted LPFA or WPFA, an authorized agent of your firm may sign any relevant forms on behalf of your clients.

  1. Go to the Forms library on Schwab Advisor Center and select Managed Account Select/Access Investment Restrictions Form. Click Select, and open the form using the desired method
  2. Complete the form and obtain signature(s) from the account holder(s). An authorized agent may sign the form on behalf of your client
    • For forms eligible for DocuSign, see How to use DocuSign
    • For forms not eligible for DocuSign, print and obtain signature(s)
  3. Send the signed form to Managed Account Operations via a Schwab Advisor Center service request, fax, or mail:
East CoastWest Coast
Fax: 877-828-1176Fax: 877-815-3479
Regular mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
P.O. Box 2380
Omaha, NE 68103
Regular mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
P.O. Box 982603
El Paso, TX 79998-2603
Overnight mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations 
200 S 108th Ave
Omaha, NE 68154
Overnight mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
1945 Northwestern Drive
El Paso, TX 79912-1108

The is generated on a quarterly basis and consolidates trade confirmations for multiple accounts in one document. Follow this process if your client has an existing managed account and wants to update their TCR subscription.

To add a managed account to a TCR subscription:

  1. Subscribe your firm. Firms subscribe only once at the firm level—not separately for each client. If your firm is already subscribed, skip to step 2
    • Select/Access accounts—If your client intends to only have this feature on their managed accounts, your firm does not need to enroll. All Select and Access money managers are enrolled. To subscribe your firm, refer to "How to subscribe your firm to the trade confirmation report" in How to customize Schwab reporting
    • Marketplace accounts—Contact the money manager on the account directly to confirm if they are enrolled. If not, ask your Schwab sales team to enroll the money manager
  2. Go to the Forms library and select the Trade Confirmation Report Subscription Form
  3. Complete all necessary fields
    • If your client wants to add a managed account to an existing TCR subscription group, check the "Add to Existing Subscription" box on the form and include an account number in the existing subscription group
  4. Print the form and obtain signatures from all account holders, trustees, authorized individuals, and custodians
    • For forms eligible for DocuSign, see How to use DocuSign
    • For forms not eligible for DocuSign, print and obtain signature(s)
  5. Send the signed form to Managed Account Operations via a Schwab Advisor Center service request, fax, or mail:
East CoastWest Coast
Fax: 877-828-1176Fax: 877-815-3479
Regular mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
P.O. Box 2380
Omaha, NE 68103
Regular mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
P.O. Box 982603
El Paso, TX 79998-2603
Overnight mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations 
200 S 108th Ave
Omaha, NE 68154
Overnight mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
1945 Northwestern Drive
El Paso, TX 79912-1108

To delete a managed account from or cancel a TCR subscription:

Contact Managed Account Operations at 877-595-6345 or via a Schwab Advisor Center service request.

Once you have submitted your request:

  • Schwab processes the DOAA and trade confirmation report forms within 24 hours. Investment restriction forms may take up to three business days to process
  • If the forms were submitted using DocuSign, see the What's next? section of How to use DocuSign

If you have questions about updating managing account authorizations, restrictions, and reports, contact Managed Account Operations at 877-595-6345 or via a Schwab Advisor Center service request.

To select a form, go to the Forms library on Schwab Advisor Center. 

Form: Managed Account Marketplace Delegation of Advisor Authorities
Form: Managed Account Select/Access Delegation of Advisor Authorization
Form: Managed Account Select/Access Investment Restrictions Form
Form: Trade Confirmation Report Subscription Form

How to set up a managed account master
How to customize Schwab reporting
How to use DocuSign®
Introduction to managed accounts

Adobe Reader and Adobe Acrobat are registered trademarks or trademarks of Adobe in the United States and/or other countries.

DocuSign and the DocuSign logo are trademarks or registered trademarks of DocuSign, Inc. in the United States and/or other countries.

The Schwab Center for Financial Research ("SCFR") is a division of Charles Schwab & Co., Inc. ("Schwab") that evaluates money managers (MMs) in Schwab's Managed Account Select ("Select") program. The Select program is sponsored by Schwab. Schwab does not provide advice or recommendations regarding managed account strategies or MMs to investment advisors or their clients.

Please read the Schwab Managed Account Services™ Disclosure Package for important information and disclosures regarding the Managed Account Select® ("Select") and Managed Account Access® ("Access") programs. In addition, please read the participating money manager's ("MM's") disclosure brochure, including any supplements for important information and disclosures. Investments in managed accounts should be considered in view of a larger, more diversified investment portfolio. Services may vary, depending on which MM you choose, and are subject to an MM's acceptance of the account.

The Select and Access programs are sponsored by Charles Schwab & Co., Inc. ("Schwab"). The MMs in Select are not affiliated with Schwab. The Schwab Center for Financial Research ("SCFR") is a division of Schwab. In Select, SCFR conducts an operational evaluation of MMs, monitors the MMs performance periodically, and provides research. In Access, SCFR conducts operational evaluations of unaffiliated MMs. Schwab does not provide advice or recommendations regarding managed accounts, MMs, or securities to investment advisors or their clients. Independent investment advisors are not owned by, affiliated with, or supervised by Schwab.

The Managed Account Marketplace® ("Marketplace") platform is not a program sponsored by Schwab. Marketplace is an open architecture platform that gives investment advisors and their clients' access to separate account managers and turnkey asset management providers (TAMPs). Participating MMs and TAMPs need to establish a contract and have system compatibility with Schwab in order to be in Marketplace. The MMs, TAMPs, and their investment strategies available in Marketplace are not evaluated by Schwab.

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