bad sign - Schwab outta commision

[JohnEyles]

Yikes, I guess we find out who's there for you when the
going gets tough ...

Unable to login or phone-in to Schwab.

 

[Sandy]

Thanks, thought it was just me and am too busy at w*rk to really follow up.

Probably a good thing anyway - no good news.

 

[Sarah in SC]

Institutional online is still down, but I got through to trading after being on hold a few minutes. Not too worried about it!
Surprisingly few client panic calls....
Sarah

 

[dmpi]

Reminds me of the 1987 crash. Same thing happend to schwab.

 

[saluki9]

Yikes, I guess we find out who's there for you when the
going gets tough ...

Unable to login or phone-in to Schwab.

You're telling me!

We have a couple hundred accounts that we were unable to access. Not a happy afternoon around the office.

 

[Sarah in SC]

Saluki, thanks for reminding me to thank my lucky stars we use SAMs and do no trading ourselves (my call was for my own account).
Schwab folks sounded pretty skanked-up when I called our team...
Sarah

 

[LOL!]

I was doing some tax loss selling and buying today. I made about 12 trades at WellsFargo. No problems.

Also used my TDAmeritrade "Command Center" to watch the trades go through. It just looked like a normal day from where I sat.

 

[CCdaCE]

Saluki, thanks for reminding me to thank my lucky stars we use SAMs and do no trading ourselves (my call was for my own account).
Schwab folks sounded pretty skanked-up when I called our team...
Sarah

SAMs ?

Surface-to-air missles?

-CC

 

[Sarah in SC]

Separate Account Managers--meaning we select boutique managers for clients--these managers buy/sell in the accounts, and we do very little trading ourselves for the clients on a regular basis. But your definition is better!
Sarah

 

[FinanceDude]

We use Mesirow.........

They had no problems...........

 

[haha]

Separate Account Managers--meaning we select boutique managers for clients--these managers buy/sell in the accounts, and we do very little trading ourselves for the clients on a regular basis. But your definition is better!
Sarah

Does a separate account manager-manager-manager select your firm?

Ha

 

[Sarah in SC]

Hi Ha, um, well, I guess they decide who they want to do business with.
We do consulting wealth management, so we recommend managers that would want to work with the type of clients we have. Does that help?

Sarah

From Schwab today via email:


On August 16, you may have experienced difficulty accessing certain functions on schwabinstitutional.com. We want to apologize and let you know what happened.
In the process of expanding system capacity earlier that morning, a system slowdown occurred. As a result, you may have experienced slower than normal service, or in some cases, may have been unable to access some of our online functions. You may have also experienced longer hold times when contacting us by phone.

 

[clifp]

I didn't have trouble with Schwab last Thursday. They picked a bad time to have a system malfunction.