It's a reasonable concern and something I worry about too,Fair enough - I'm trying not to get into the weeds of specifics, OP asked what happens if your account is "hacked". I am pointing out that if you provide your credentials that results in a loss then various brokerage guarantees do not apply.
What do you mean "TT requires for import", the TurboTax import of 1099s from Schwab/Fidelity use OAuth where you login to Schwab and Fidelity and grant TurboTax access to that data. So your sharing your data with them, not credentials. If you believe your sharing your credentials though, why not just change them after an import?
If your worried about sharing data with TurboTax, your sharing data with them if you ever use their import 1099 feature too, and technically your sharing data with them if you type the information into TurboTax manually
I agree that brokerages that use methods like OAuth should not pose any risk since you didn't share your credentials with a third-party.
While it's nice that Fidelity and Schwab have these published guarantees, I wonder what kind of teeth they actually have...if the brokerage doesn't honor it what are my options outside of the mandatory arbitration that I agreed to when I signed up with these firms? I'm not a lawyer but it seems like at the end of the day I'm really just trusting Fidelity and Schwab to do the right thing, and hopefully they will if I play by the rules, but if they don't I'm not sure how that plays out
I also have my assets spreadout on multiple brokerages, makes me feel better...
Statistics: Posted by hoofaman — Sat Jan 03, 2026 8:25 am — Replies 18 — Views 1328