Brokers who tell clients to ignore their brokerage statements during times of market volatility are giving dangerous advice, according to Susan Antilla, Founding Fellow at TheStreet. Antilla said if a hacker steals money out of a brokerage mutual fund account, one condition for reimbursement is that investors regularly check for unauthorized transactions. While major brokerage firms offer protection guarantees against theft, they come with several caveats. ‘All of these companies like to say we’ll give you your money back. But if you start to look at all of the things you have to do, it’s a lot of responsibility put on customers,’ said Antilla. Regularly checking your statement in one of them. Another is not sharing your password with anyone, including your spouse, as well as creating a hard-to-guess password that isn’t used for any other accounts.
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