Schwab, Fidelity and Altruist each set different requirements. Here they are side by side.
The insurance and security expectations each custodian sets for advisors, with the source for every line, plus the IT controls that back each one up.
See each custodian's insurance requirements in one table, with the source for every line
Find gaps if you use more than one custodian
Check your certificate of insurance against a simple checklist
Line up the IT controls that support social engineering, theft-by-hacker and cyber coverage
Know which items are confirmed on the custodian's own site and which you should confirm with them
Free. No sales call required.
Written by Harrison Baron at Secure Wealth IT, a Charlotte, NC IT and cybersecurity firm that works with RIAs, financial advisors and broker-dealers. Every line shows its source, and anything we couldn't confirm with the custodian is marked for you to check.
What's inside
Everything in the comparison
Insurance requirements comparison: Schwab, Fidelity, Altruist
Operational and security expectations comparison
Multi-custodian gap worksheet
Certificate of insurance checklist
IT controls and evidence for each requirement area
Want to go through it with an IT person?
You can book a free 20-minute review at https://securewealthit.com/harrison. No obligation.
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