At a glance
- Docusign had been an optional service at Schwab for years.
- From Nov. 2 it is the only route, so agreements still moving on paper have to shift to e-signature.
- For a Schwab-custodied RIA, the change lands on new client and account agreements.
Schwab is requiring RIAs to execute agreements through Docusign from Nov. 2, ending paper forms and ink signatures at the Westlake, Texas custodian, RIABiz reported.
Docusign had been an optional service at Schwab for years. From Nov. 2 it is the only route, so agreements still moving on paper have to shift to e-signature. RIABiz reported that the custodian has long contended with a complex, time-consuming onboarding process for RIA clients.
For a Schwab-custodied RIA, the change lands on new client and account agreements. There is no paper fallback after the deadline, so any signature step still handled by mail or scan has to move into Docusign before the next account opens.
Reported by the RIA desk from RIABiz. Published . Corrections