This document guides you through the release of information process with the Charles Schwab custodian. Simply follow the described steps in order to authorize BridgeFT to access your accounts managed by Schwab.
ROI Processing Timeline: 5 - 8 business days
Submission Method: via Schwab Client Portal
Step 1. Log into Schwab Institutional and select Account Management at the top of the page.
Step 2. Go to the Account Management
Step 3. Select Forms library
Step 4. Search for “Request for Data Access Agreement”. To the right of that form, click Submit Request.
Step 5. Complete the required fields for Advisor & Firm Information, Master Accounts, and the Third-party data recipient information listed below.
- Recipient and Signer should be: Bridge Financial Technology Inc
- Email: [email protected]
If you are completing these instructions for an integration, please indicate the integration partner in the comment section.
For example, type into the comments: "Please include [Integration Partner Name] in the DocuSign email to authorized signers."
Also the accompanying information section will be below the additional request details section. Please select all three items (as shown above).
Once completed, please select the Submit request button.
Step 6. Within three business days, you, your service provider, and the service provider's agent (if applicable) will receive an email notification to sign the form via DocuSign. Open that email and click the link on the email notification and provide your signature.
After all signatures are obtained, Schwab will assign the master account to the downloading firm and send an email notification to the service provider (and service provider's Agent, if applicable).
If you have questions about the data access set up process, call Advisor Platform Support at 800-647-5465.
Completing an ROI at a firm level master account number provides all of the advisor codes within that master account. This allows advisors to complete the ROI process once for essentially an umbrella master account number that encompass the other relevant master accounts that can then feed into BridgeFT. This Firm Level ROI is communicated to BridgeFT through a FAM file from Schwab.
Pre-requisite: This must be set up with Schwab in advance before completing this optional step.
In order to get this set up with Schwab:
- Call the Schwab Advisor Platform Support team at 800-647-5465.
- Reference the Firm's SL Master and request the FAM file be generated for your feeds.
As a result, the FAM File for your firm will be added to the data feed to BridgeFT. Included in this file is a Client to Advisor (Master #) relationship.
Below are instructions for "3rd Party Access" to your accounts through Schwab Advisor Center. BridgeFT uses this access to reconcile accounts and ensure accuracy of your data. We have permissions only to view and download data. These permissions are functionally a different way for us to view data we are already receiving through the data feed.
Have your Firm Security Administrator log into Schwab: https://si2.schwabinstitutional.com
Go to More → Launch Security Administration
Toggle over to the User Security Groups tab:
In the Enter User Security Group Name field located under Create and Duplicate Security Groups, add the name “BridgeFT”. This is the name of the security group, which is what is used to define our permissions.
Click New Group > this will take you to a new screen.
Once on the new screen. Under Function Access, add the following:
- “Access Account Information”
- “Access BP&T” (balances, positions, transactions)
- “Access Client Reports”
- “Access Cost Basis”
- “Access File Downloads”
- “Access Report File Downloads”
Under Data Access, add:
- “Master Number – Download”
- “Master Number – Read”
Once these entries are done, they are automatically saved and there is no save button to hit.
Click on Add/Change User (underneath User Security Groups).
Click Add User.
Under User Profile, fill out the following:
- First Name: Rich
- Last Name: DeMonte
- Email: [email protected]
- User ID: (3-digit company abbreviation) + BridgeFT (example: AAABridgeFT)
- Temporary password will be generated by Schwab
- Please log in using the UserID set and the temporary password provided by Schwab
- Choose any security question, and select answer: atlas (example: What is your favorite Superhero? Answer = atlas)
- You should be prompted to change the password when you log in. Please make the password: Temporary123. We will update to a more secure one when you let us know this step is completed.
User ID and Password are both case sensitive.
Under User Security Group, select the name of the group that you created in the beginning steps, generally “BridgeFT” Click save and let us know this has been completed at
SSN or Tax ID (TIN) information is useful when you need to identify and match account information provided by BridgeFT via our WealthTech APIs with client accounts in your application. For more details about the use case and how we solve common account identification issues, please refer to the Accounts Identification by SSN/Tax ID article.
Unfortunately, this personal information has always been restricted and masked in the data files at the master account level, requiring a request from an authorized agent at the firm to authorize the release of information. If you realize that account identification is relevant for your implementation and you wish to use our Tokenized Tax IDs API, please make a request to Schwab by calling the Advisor Platform Support (APS) team at 800-647-5465, who will assist in submitting a ticket to unmask SSN/TaxID information and include it in their data feed for BridgeFT.
If an Advisor or a Firm is sending BridgeFT multiple master accounts, each master account number needs to be requested during that time. Schwab requires that a separate request is completed each time a new master account is authorized.
For additional information, please visit Schwab’s Direct Instruction Link.
Updated 2 months ago