Blue Haven

The Schwab mobile app update is pretty good

By August 5, 2020 No Comments

We’re writing with a quick update on some new features Schwab has added to their mobile app. If you’re not already using Schwab’s mobile app to monitor your accounts, we recommend downloading it from the app store. It’s available on any Apple or Android device, including tablets. In some ways, the app is easier to navigate than the web portal.

Key features

Schwab’s mobile app makes it very easy to keep track of your investments and other assets. All of your accounts are displayed in a clean dashboard upon logging into the app. You can even link non-Schwab accounts such as your checking account, 401K, credit cards, mortgage, or other investment accounts. This gives you a complete financial snapshot all in one place. And with one click, you can transfer money in or out of your account, plus deposit checks directly through the app:

Meet the Schwab Assistant

The newest feature we’re really excited about is called Schwab Assistant. This is a virtual assistant Schwab recently rolled out through their mobile app and for a first iteration, we’re pretty impressed. What we like most about Schwab Assistant is the thoughtful market recap clients can get each day. To get this recap, click the Schwab Assistant icon in the upper right-hand corner of the app and then select Schwab Market Update at the bottom of the screen: 

This will pull up a podcast style market recap or text version. The podcast typically ranges between 10-15 minutes long. So I personally prefer the text version because I can skim through and jump to the sections that are most relevant for me. Regardless, this is an awesome value add that we encourage clients to take advantage of. We especially like that Schwab’s market report simply reports on market data for the day. Such as jobs data, corporate earnings, bond yields, or developments in international markets. There’s no journalistic bias.

If you’re not using the app, you should

One of the reasons we custody at Schwab in the first place is due to the way they embrace technology. They are certainly with the times when it comes to pushing out updates and trying to make life easier for us and our clients. And the features in the mobile app are a testament to that. So if you’re not using the app, you should. Unless you’re like my dad and you still have a flip phone from the 1990s (hi dad!). But he does have an iPad so he should still use it!

Schwab’s mobile app makes it easy to track your investments and assets. Plus, you can get a total financial picture with their account linking feature. You can seamlessly move money in or out of your account from the convenience of the app. Lastly, they are regularly adding new features like Schwab Assistant to help you be a well-informed investor. You can download the Schwab mobile app on Apple devices here or Google devices here.

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