I have read a number of articles about the current scam making it’s way around the investment world.  The custodian I read being hit most consistently is Charles Schwab. But I suspect the same scheme could be run for TD Ameritrade where most of our client’s assets are custodied as well as Pershing, Fidelity and any number of other custodial firms.

In the emails, a legitimate looking site and link are provided and the recipient is asked to provide log-in credentials and/or other personal information.  Often, banking and security procedures are noted in the email.  If the scam is facilitated, even inadvertently, the scammer will have access to the investor’s accounts.

Please be wary of these fraudulent emails.  We have seen this scheme work in the tax preparation world and now the bad guys are spreading their wings and attacking people’s investments.  Don’t hesitate to contact us if you receive an email that looks out of place or just want to be sure.