TD AMERTRADE ACCOUNT TRANSITION TO SCHWAB
Since Schwab’s acquisition of TD Ameritrade closed in October 2020, TD Ameritrade Institutional (TDAI) and Schwab Advisor ServicesTM (Schwab) have been actively working to bring their two companies together. Account conversion is scheduled to take place over Labor Day weekend, September 2-4, 2023, impacting all of our clients with accounts at TDAI. To make the transition of your TDAI account(s) as seamless as possible, you will be informed every step of the way. Here's a short synopsis of what’s happening and how it will affect you:
- Your relationship with Telos will not change.
- At the end of June, an Account Transition Notice was sent to all our TDAI clients, informing you that your account(s) will be transitioned to Schwab. This notice is being handled via ‘negative consent’, meaning no action is required on your part.
- Schwab will automatically transfer your assets – there’s nothing for you to do.
- After the move, you will have access to Schwab Alliance, a secure online portal, and you will lose your TDAI www.advisorclient.com access.
- You will have a new Schwab account number, so you will need to update any direct deposits or recurring payments that you have set up directly with your bank or third-parties. Any instructions set-up at TDAI will automatically transfer over to Schwab.
- You will receive additional communications from Schwab with resources to help you prepare for your move. So, please watch your email inbox and regularly log in to www.advisorclient.com for important updates.
- To help you prepare for the transition ahead, we encourage you to visit the following websites for more information: welcome.schwab.com/alliance and welcome.schwab.com.
- The integration of TDAI and Charles Schwab will offer significant benefits through combined scale, complementary strengths, and a shared passion for investors.
If you have any questions about this upcoming transition, we encourage you to reach out to your Telos financial advisor.
JULY 2023