Alert: Notice of New Scams

Jared Martin |

Schwab: Sophisticated Phishing Scam:

There has nationally been an increasing number of sophisticated scammers targeting clients by impersonating Schwab employees and using methods of communication such as phone calls and text messages to get login credentials, personally identifying information, and more with the goal of accessing your accounts.

From Schwab's Fraud Surveillance Team:

“Such schemes follow a typical pattern: The scammer sends a text message to the potential victim asking if he or she made a specific purchase. If the victim responds, "No," the fraudster follows up with a phone call claiming to be from where the alleged purchase was made or the victim's financial institution and asks for sensitive personal information. If you receive this kind of suspicious communication, immediately contact the financial institution in question at a known number. At Schwab, that number is 800-435-4000.”

-Schwab Fraud Surveillance and Investigation Team

Other Ways to Protect Yourself:

  • Create unique, hard to guess passwords.
    • Complex passwords too hard to remember? You can utilize the services of a password manager such as LastPass, Bitwarden, 1Password, or one of the many other competent password management services.
  • Keep your login credentials private.
    • Your custodian will NEVER ask for your login or password over the phone. If someone asks for your credentials, it is almost certainly a fraudster.
  • Rely on known numbers, emails, and websites.
    • Numbers that are posted on official websites and visible on paper documents are the safest way to contact custodians.
  • Report Suspicious Texts.
    • If you receive a message that you are unsure about, report it to the supposed sending custodian through their official channels, they can confirm or deny the legitimacy of the message.
    • Schwab’s Fraud Team:


If you suspect potentially fraudulent communications, stop, and call the BrightPath Wealth Planning office to check in. (805-764-0335)

For more information on how to identify financial fraud and keep yourself safe, please visit the link below.