Advisors are likely waking up to messages warning of difficulty logging into custodial platforms and their other technology providers Friday morning.
Major media outlets are reporting that a global technology outage, currently being blamed on a flawed software update for Microsoft Windows operating systems from cybersecurity giant Crowdstrike.
A message on the login screen of Schwab Advisor services warned that “due to a third-party, global, industry-wide issue, advisors may have difficulty logging in to Schwab Advisor Center, and certain online functionality may be intermittently slow or unavailable.”
The message also warned that data file delivery is delayed and that there may be long phone hold times, suggesting that firms with urgent needs should contact their service or trading teams.
It appears that the outage has affected travel worldwide with major airlines and airports reporting ground holds. Many industries sectors from travel to media to healthcare rely on Crowdstrike.
According to Bloomberg, bankers around the world were caught up in the outage, with some unable to log onto their computer systems and others unable to make trades.
Staffers at JPMorgan Chase, Nomura Holdings and Bank of America were unable to log on to their firms’ systems Friday, with many met with a blue error screen.
This is a breaking news story, and we will update it as new information becomes available.
