3 Quick Safeguards to Protect Your Financial Accounts
Grab your most recent Balance Sheet. Go account by account and make sure the following three (3) safeguards are in place.
2-Step Verification
This feature requires you to enter the correct username and password when logging in and a code that is sent to you via text message or through an authenticator app.
This feature protects you in the event your username and password are hacked since the hackers likely won't also have access to your phone. In addition to financial accounts, you can enable this for email accounts.
Account Alerts
Most banks and custodians let you customize alerts by text or email. Use them! Alerts can notify you of:
Large or unusual transactions
Profile changes (like address or phone number updates)
Transfer requests (ACATs) moving money between institutions
These small notifications act as an early warning system - helping you catch fraud or errors before they snowball.
Authorized Users
If someone else helps manage your finances - a spouse, family member, or trusted contact - add them as an authorized user, rather than sharing your login credentials.
Authorized access allows you to tailor permissions:
View-only (can see balances but make no changes)
Limited authority (can trade, but not change beneficiaries)
Full authority (rarely needed; grants complete control)
Sharing logins can expose your accounts to unnecessary risk and may even violate your custodian’s terms of service. Setting up proper authorization keeps your accounts secure and compliant.
Linda Rogers, CFP®, EA, MSBA is the owner and founder of Planning Within Reach, LLC (PWR). Originally from New Jersey, Linda services clients throughout Virginia Beach, San Diego county, and nationwide. She leads the design of PWR's investment portfolios which utilize broad, low-cost investments that integrate environmentally, socially, and governance (ESG) factors.
Planning Within Reach, LLC (PWR) is a fee-only and fiduciary wealth management firm offering one-time comprehensive financial planning, ongoing impact-focused investment management and tax preparation services in Virginia Beach, San Diego, and nationwide. PWR is a woman-owned firm that specializes in busy professionals and impact investors. Planning Within Reach, LLC and their advisors do not receive commissions and do not hold any insurance licenses or brokerage relationships.