As you may know, TD Ameritrade (TDA) Institutional was acquired by Charles Schwab (Schwab) Advisor Services in 2020. We will be providing regular updates on the transition as they are available. To date, Schwab has made very subtle adjustments to your TDA account. These adjustments are necessary to create an efficient transition as they integrate TDA systems and account structure onto the Schwab platform.
You may be thinking: “How does this affect me!?!”
First things first, your team at FSB Premier is not going anywhere. We will remain by your side every step of the way. Secondly, Charles Schwab is committed to transitioning all TD Ameritrade accounts in an efficient, convenient manner. Our hope is that at the end of the day, the only difference you see is Schwab’s name at the top of your statements. You will not be required to sign new paperwork. Your account holdings, automatic payments, and beneficiary information will all map over to your new Charles Schwab account, exactly as they are now. Schwab has also committed to making this change during non-market hours.
Some of you may also be wondering: “Will I still have online access to view my investments?”
Yes – for those of you that have registered for TD Ameritrade’s AdvisorClient.com, your log-in information will carry over to Charles Schwab’s platform: SchwabAlliance.com. Schwab has committed to having online access available for clients immediately on the first day of business after the transition.
Others may ask: “What is the benefit of TD Ameritrade merging with Charles Schwab?”
TD Ameritrade has been an industry leader when it comes to the technology they utilize and provide to advisors and investors. Charles Schwab has always had a commitment to providing the highest level of service to clients or advisors. The combination of these two companies should bring together the best of both companies on one, single platform.
At this time, there is no official merger date released. TD and Schwab are targeting the transition to happen over a three-day weekend where the market is closed. The process of combining these two businesses is a big undertaking. Please note that all of us here at FSB Premier are taking great care to ensure this event; is in-fact; a non-event for all of you.
Stay tuned for future updates and announcements as they are available. As always, we are here to advise and guide you every step the way!