Updates for clients with assets under our management at Schwab

Updates for clients with assets under our management at Schwab

September 20, 2023

There were a lot of changes related to the merger of TD Ameritrade with Charles Schwab this year. We want to thank our clients for their patience with the process through the transition.

We hope you have set up your online access to your Schwab accounts. Here is a step-by-step guide and a 3-minute video. Reach out if your link has expired or if you need any help.

You have until November 29, 2023 to choose paperless statements and/or tax forms. After that, you will get paper statements even if your TD Ameritrade had a paperless statement setting.

Schwab allows you to sign forms we send you through your Schwab Alliance portal. For example, we may send forms for connecting with a bank or for move money (vs. DocuSign that we used before).

One nice feature is that you can deposit checks directly to your brokerage account through the Schwab app on your phone.

There is only one login for the account owner by default. Schwab lets you set up view-only access for your spouse, accountant, or whoever you want. So, if you want someone else to see your balances, you can grant them this kind of access.

Explore more about your Schwab accounts access here.

When setting your online access, there are three options for trading: standard, trade/transfer consent, and limited. Please let us know before you place trades if you are set up with the first two options, so we know to leave the account out of our automated rebalancing.

While at TD Ameritrade, we could send you cash when you requested it on the same day. At Schwab, we need at least three days to wait until the funds from a sold ETF clear to send you cash. So, bear in mind that there will be a slight delay in sending you ad hoc cash. We maintain cash for clients with monthly scheduled distributions, so don’t worry about your monthly paycheck.