Advisers are likely to wake up to messages warning of difficulties logging into their custodial platforms and other technology providers on Friday morning.
Mainstream media are reporting that a global technology outage is currently being blamed on a faulty software update for Microsoft Windows operating systems by cyber security giant Crowdstrike.
A message on the Schwab Advisor services login screen warned that “due to a third-party, global, industry-wide problem, advisors may have difficulty accessing the Schwab Advisor Center and some online functions may be intermittently slow or unavailable”.
The message also warned that sending data files is delayed and that there could be long hold times, suggesting that firms with urgent needs should contact their service or trading teams.
The outage appears to have affected travel around the world with major airlines and airports reporting grounding. Many industry sectors from travel to media to healthcare rely on Crowdstrike.
According to Bloomberg, bankers around the world were caught out by the outage, with some unable to access their computer systems and others unable to trade.
Employees at JPMorgan Chase, Nomura Holdings and Bank of America were unable to log into their firms' systems on Friday, with many facing a blue error screen.
This is breaking news and we will update it as new information becomes available.