Schwab TD Ameritrade – Video Episode #349

by | Aug 11, 2023 | Videos

Schwab TD Ameritrade – Video Episode #349

If you are a client of TD Ameritrade – pay attention!

The merger between Charles Schwab and TD Ameritrade (Schwab TD Ameritrade) is nearly complete.

Account holders at TD Ameritrade recently received (or will soon receive) a pamphlet with important information regarding your transition from TD Ameritrade to Charles Schwab.
Do not throw this away!

Included with the pamphlet is a letter containing your new account number – do not throw this away either!! Very important! Tom walks through some of the highlights and comments on the progress of the merger. We believe clients of Mullooly Asset Management will be very happen once the transition to Schwab has been completed in a few weeks.

Links for Schwab TD Ameritrade Episode #349

SchwabAlliance.com
AdvisorClient.com   (Log in HERE first!  This is the TD Ameritrade client log in)

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Transcript for Schwab TD Ameritrade Episode #349

Schwab TD Ameritrade: Episode 349 We have an update on the merger between Schwab and TD Ameritrade

Welcome to the Mullooly Asset show; I’m your host Tom Mullooly.
Episode 349 is going to talk a little more about the merger between Charles Schwab TD Ameritrade. If you have an account at TD Ameritrade you very likely have just received or will receive something like this in the mail.

I will say to you: take two minutes and read it! This is really well done!

They answer a lot of questions – that we’ve been getting here at the office! So it will definitely help clear up a lot of things, and I just want to run through a few of them; here in this video.

The first thing they mentioned is the relationship that you have with your advisor – that’s us – Mullooly Asset – is NOT going to change.

Moving your assets is going to happen automatically. They are basically going to pick up everything – like I said in the last video – they’re going to pick up everything at TD Ameritrade and bring it over Charles Schwab. And we’ll link to that video. It’ll be up here.

The next thing that I wanted to just remind our viewers is the timing of this transaction. Everything will work – as normal – until Friday afternoon, September 1st. This is coming up pretty quick.

From 8:30 PM on Friday September 1st – through 5:00 AM Tuesday morning, September 5th.
If you log into advisorclient.com, you’re not going to see anything. There’s nothing there.

That is because everything is in transit from TD to Schwab.

Your new account letter. You got this this little pamphlet in the mail — well, the letter that came with it, don’t throw it away!!
It’s very important.

Your new account number is right here in this box!
Here’s your old account number.
Here’s your new account number.
Super helpful as we do this transition over to Schwab!

If you have standing letters of authorization, like “send money out every month to my bank,” there is nothing for you to do.
That is all sweeping over to Schwab. And that’s good; because that’s a lot of paperwork we won’t have to do!

When you log into SchwabAlliance.com. — once this deal is complete — you’re going to be able to see all of your documents, all of your statements, all of the account history. Everything is going to be there.

We’re very excited about this merger – we think it’s going to work out great for everybody.

At some point you WILL get a final statement from TD Ameritrade. And that statement is very likely going to have ZERO balances. It’s going to show ZEROS in your TD Ameritrade account. Please, please, please do not flip out.

Everything is moving over to Charles Schwab. And I’ve got a funny story – for anybody who wants to hear it – just reach out to me, I’ll be happy to share it with you.

If there happens to be any kind of residual dividends, they may land in your TD Ameritrade account and quickly flip over to Schwab. Don’t worry about that. It’s all getting swept over.

When you go to log into Schwab for the first time, they want you to set up your credentials. It is VERY possible your username at TD Ameritrade MIGHT be available at Charles Schwab! So do this before September 1st – before the merger weekend. Give it a test run.

You can’t really do anything – you won’t be able to see anything in the account before September 5th. But try and log in, see what it looks like – so you get a little more used to it.

We encourage folks to enroll in paperless delivery. It’s just going to make your life easier. And we get copies of these things as well.

Just to wrap up. September 1st through September 5th: going to be very hard to get account information.
That’s okay. We want you to just know about it, and be prepared.

If you’ve got questions… additional questions on top of this, get in touch with us.
We’d be happy to talk to you some more. Thanks for tuning in to episode 349, Schwab TD Ameritrade.

 

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