Pershing, LLC 2FA

DannyB

For the past week to ten days, Pershing, LLC is requiring 2FA every time I open Simplifi.  I’ve waited to report this to see if it would resolve itself, but so far no go.  I haven’t seen anything in the community forum about this so wanted to check in and see if this is a known issue.

Coach Natalie

Hello @DannyB,

Thank you for reporting this to the Community, although I'm sorry to hear that you're receiving persistent MFA prompts for Pershing LLC in Simplifi.

Sadly, we have no control over the MFA requests that are sent by your various financial institutions, as these are sent and required by the banks directly; more details on this can be found here. 

With that said, one thing you can try is disabling MFA requirements with Pershing directly, however, this can decrease the level of security that you have for your account(s), so I mention it with caution. 

Sorry I don't have a better answer!

-Coach Natalie

DannyB

Thanks, @Coach Natalie This is a new development.  I have had not problems with Pershing until just a week or so ago.  I tried deleting the account and reconnected it.  But Pershing is still requiring MFA.  I'll try reaching out to them to see if there is a fix.

Mike T

Danny, for what it’s worth, all of my accounts have MFA. Most don’t require authentication every time I use simplifi, but two do.  It’s just something I’ve gotten used to.  

DannyB

Thanks, Mike.  Same here, all my financial accounts use MFA and until recently Pershing wasn't asking for MFA in Simplifi either.  I checked with Pershing to see if something had changed and they said nothing had changed on their side.  Maybe something changed with Simplifi's aggregator?

DannyB

So I talked with Pershing and they say they don't control MFA for aggregators.  Simplifi doesn't have control of that either.  So maybe something changed with Simplifi's aggregator that has triggered needing to use MFA for Pershing.  After initial set up this was no problem either with Quicken or Simplifi up until a few weeks ago now.  Ah well, it's not a big deal especially since these are information only accounts in Simplifi.

Coach Natalie

Hello @DannyB,

It sounds like you may have received some misinformation from Pershing, unfortunately. The MFA requirements are made by the banks directly, and the contact methods/options used to complete MFA in Simplifi are also provided by the bank. Although the bank may have no control over how often MFA prompts are made, you would definitely need to manage your MFA preferences with the bank directly to see any changes in Simplifi (i.e. completely disabling MFA with the bank should result in no longer receiving MFA prompts in Simplifi). 

Hopefully this helps to clear up any confusion!

-Coach Natalie

DannyB

Thanks @Coach Natalie like I said it's no big deal and I'll keep the MFA in place with Pershing.  It's only that when I connected to my Pershing accounts back in January and up until the last couple of weeks, MFA wasn't an issue.  Something somewhere changed that and I was just seeing if I could track it down.  I know that MFA is controlled by the bank.  Since Pershing was taken over by BNY|Mellon it may be something BNY has done that has changed.  Again, not a big deal.