Schwab Onboarding and Service
As a member firm of XYPN, you have access to the following benefits on the Schwab platform:
- Discounts on specific mutual fund trades:
- DFA mutual fund trades are discounted to $9.99.
- Trade fees for mutual funds (not including reduced funds) are $35 if placed online or $10 off per trade.
- Max fee on recurring investments discounted to $5/trade.
- Flyer Financial Technologies - FIX Engine for Trading available to XYPN members for free ($4,000/yr value).
- A trained and dedicated onboarding team for XYPN members.
- XYPN Schwab service line to get you to a qualified Schwab representative faster.
Onboarding and Expectations
Members with Registered Firms are encouraged to start the process to onboard with Schwab no earlier than 90 days before they intend to fund their first investment account at Schwab.
If you are not registered yet, Schwab will not onboard your firm until your firm registration is approved.
Onboarding Steps
- Please complete the New Advisor Questionnaire and send it to yourria@schwab.com.
- This email is for onboarding purposes ONLY. Please use the Service and Account Management contact information we've included below for future requests and questions.
- Once the questionnaire is received, you will be sent onboarding documents via DocuSign.
- It will take approximately two to three weeks to complete the onboarding process, assuming all paperwork is in good order. All forms will need to be signed by an authorized control person of the firm.
The instructions above are for firms joining the Schwab platform for the first time. Please don't hesitate to contact the XYPN Member Experience team at membership@xyplanningnetwork.com with questions or if you need a special exemption to onboard with Schwab.
Contact
Hours: 8:00 AM - 8:00 PM ET
Direct all Onboarding Questions to: yourria@schwab.com
General support for existing Schwab users: YourRIASupport@schwab.com
Phone
The numbers below are for existing Schwab users only. Please email yourria@schwab.com for onboarding questions.
- XYPN Schwab service line: 877-908-9938
- General Phone Number: 877-774-3892
- Tell the voice assistant about your issue or question in a few words or less. They will connect automatically to the right person!
Having trouble navigating the Voice Assistant? Try Schwab's Voice Assistant Tip Sheet.
Regular Mail
East: Charles Schwab & Co., Inc.P.O. Box 628290 Orlando, FL 32862-8290
West: Charles Schwab & Co., Inc.P.O. Box 982603 El Paso, TX 79998-2603
Overnight Mail
East: Charles Schwab & Co., Inc.1958 Summit Park Drive Orlando, FL 32810-5931
West: Charles Schwab & Co., Inc.1945 Northwestern Drive El Paso, TX 79912-1108
FAQs
I am already on Schwab, but not receiving the XYPN discounts. How can I get them?
- Email YourRIASupport@schwab.com to request the XYPN pricing and support. You'll be asked to sign a pricing agreement to access all XYPN-negotiated preferential pricing.
What type of service can I expect from Schwab?
- You have access to an onboarding team trained to support XYPN members. After onboarding to Schwab, you'll use the available service team at Schwab.
- If you ever run into an issue, let us (membership@xyplanningnetwork.com) know because we can raise that issue with our account management team on your behalf!
How can I get better support when I call the general support line at Schwab?
- Schwab's phone line uses voice recognition to direct incoming inquiries, so if you call in about a specific topic or issue, make sure to state that topic to the automated system. It will refer your call to an appropriate expert.
- Unlike some other support systems, if you immediately ask for a representative, you will be directed to a general customer service rep who is not necessarily equipped to respond to your specific inquiry.
How do I access the XYPN discounts?
- When you onboard with Schwab through the process outlined above, you'll automatically receive the preferred pricing for DFA trades and sign a pricing agreement for additional mutual fund trades.
- If you're already on the Schwab platform, email YourRIASupport@schwab.com to request the XYPN discounts on DFA and other mutual fund trades. The DFA discount will be automatically applied to your account, and you'll be asked to sign a pricing agreement to access the additional discount.
Do I have to have a client in order to onboard?
- We ask that all advisors, not just XYPN members, have at least one end client to bring to the platform prior to onboarding. We made that decision to allow our onboarding team to prioritize their time more effectively. If you complete your onboarding and don't link any client accounts for 180 days, or possibly ever, Schwab would eventually close your Advisor Services relationship. We would also advise against onboarding now if you may never use Schwab.
Resources
For a complete list of Schwab-related FAQs, you may visit Schwab's FAQ page.