Unable to Add Schwab Retirement Services Account

Question

I was having issues with Quicken downloading my Schwab Retirement Services Account information.  I 'de-authorized' this account in Quicken.  Then I attempted to ADD the account back into Quicken.  I am unable to add this account back into Quicken.  Quicken stopped downloading my account information about 3 weeks ago.  I am using Microsoft Edge browser and Quicken Deluxe

Quicken Anja · Answer

Hello @GlenL,

Thanks for the update—I wanted to follow up on the part you mentioned about MFA.

Could you clarify where that information came from? The reason I ask is that the Schwab connection type affected in October was the Direct Connect (DC) connection for Schwab Retirement Services, which was discontinued by Schwab. That connection type doesn’t use MFA, so I want to make sure we’re talking about the same service and the same account type, since other Schwab accounts use different connection methods.

Any additional details you can share (such as the exact message you received from Schwab or where the MFA information came from) will help us look into this further and provide you with the most accurate information.

Thanks again for checking into this!

GlenL · Answer

I just learned that as of October 2025, Quicken no longer supports/accepts Multifactor Authentication (MFA) and Schwab did not think this was secure enough, so they pulled the plug In allowing Quicken access to the account information.  I have been a Quicken user for decades and this may be the straw that breaks the camels back, with me, and I may no longer use Quicken (unfortunately).  Hopefully, Quicken and Schwab can rectify this situation ASAP.  I even contacted Quicken Customer Non-Support and they were unable to diagnose the problem.  They were not very helpful.