Enhanced two-factor authentication security for your my529 clients
Providing the highest levels of security for our account owners is a priority at my529. That’s why my529 rolled out enhanced online security known as two-factor authentication (2FA) in April.
2FA has become the industry standard for financial institutions, requiring two separate verification methods, such as a password and one-time security code, to confirm the identity of the account owner.
Here’s how it will affect advisors and clients.
Advisors using the my529 financial advisor suite will not be required to verify their identity with 2FA at this time. In addition, individuals with interested party access will not be required to verify with 2FA.
If your clients haven’t registered for 2FA, they can follow these steps to sign up:
- Sign in to my529.
- When prompted, enter a phone number to register.
- Select a preferred verification method: text, phone call, Authy™ Authenticator or other third-party authenticator application.
- Use 2FA to confirm identity using a code sent by one of the options listed above.
Once registered, clients can enable the 2FA system to recognize their device for six months by clicking “remember this device.” Certain account actions, such as a withdrawal request, will always require passing 2FA.
Your clients must register for 2FA in order to access their accounts online. If your clients choose not to register with 2FA, they will not be able to access their my529 accounts online. However, they can still manage their accounts and make transactions by mail, and they will continue to receive account statements by mail.
You can also continue to manage their accounts online for them.
Feel free to share this FAQ with your clients. They can also access the FAQ after they log in to their account. Clients can contact my529 with questions by emailing email@example.com or calling 800.418.2551.
Advisors can reach out to the Professional Services Team at 888.529.1886.