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The TD Ameritrade and Schwab Merge: A Beneficial Union for Our Clients Thumbnail

The TD Ameritrade and Schwab Merge: A Beneficial Union for Our Clients

Questions & Answers

Introduction

Many of you have been receiving correspondence about the upcoming TD Ameritrade-Schwab merger. We want to share some insight that we think you will find helpful as all of us navigate the transition. We are excited about the union because it brings a multitude of benefits that will enhance your investment experience and contribute to your long-term financial success. Read below to explore why the TD Ameritrade and Schwab merge is actually advantageous for you.


How does this affect me and my accounts?

  • Your relationship with us at Seaside Wealth Management will not change as part of the integration.
  • Schwab will automatically transfer your assets and holdings – there is nothing you need to do until the transfer is complete.
  • There are no tax consequences or fees associated to the move over to Schwab.
  • Once at Schwab, ETFs remain free to trade and mutual funds are very low cost as well.
  • You will have a new Schwab account number and your old TD Ameritrade number will no longer be valid, so you will need to update any direct deposits or recurring payments that you have set up directly with your bank or other third parties. Any instructions set up on TD Ameritrade will transfer over.
  • Your TD Ameritrade login will no longer show account information after September 5th. Instructions on how to set up your new Charles Schwab Alliance login will be sent out via email. We strongly encourage you to create a Schwab login because you will be able to access your monthly statements, as well as your 1099s for tax purposes. Also, if you enjoy electronically delivered statements, this is where you can elect paperless statements.

Benefits of this transition

Enhanced Resources and Technology: 

The merger of TD Ameritrade and Schwab creates a powerhouse in the financial services industry, combining two industry leaders known for their innovative technologies and robust platforms. This union allows Seaside to access an even broader range of tools, research, and trading platforms, empowering us to enhance the investment experience. The increased resources and cutting-edge technology from the merged entity will equip Seaside with a competitive edge in navigating the dynamic financial markets.

Enhanced Client Support and Expertise: 

Both TD Ameritrade and Schwab have built strong reputations for exceptional client support and expertise. The merged entity will bring together the best practices from both firms, resulting in an even higher level of service for our clients. With a larger combined team of experienced financial professionals, you can expect continued access to personalized guidance, investment advice, and educational resources. The expertise and support of the merged entity will ensure that you will receive the attention and assistance they deserve in pursuing their financial objectives.

Timeline

June 28th – Present: All TDA account holders should receive an email or letter about the account transition.

August 1st: A Key Information Packet will be sent to by Charles Schwab you via email or letter.  

September 5th: An account Verification email or letter will be sent to you. 

*Please note, we will actively be monitoring all your accounts during this transition to Charles Schwab and notify you in advance of any additional information needed to make this a seamless transition.   

Further questions?

We understand that navigating through online platforms can sometimes be challenging, and that's why we have our dedicated Client Service Associate, Matthew Awai, ready to help you every step of the way.  

Matthew is well-versed in the intricacies of the TD Ameritrade-Schwab merge and can provide one-on-one guidance to ensure a seamless login creation process. Don't hesitate to schedule a Zoom meeting with Matthew today by clicking here.

Conclusion

At Seaside Wealth Management, we understand that you value stability, reliability, and the assurance that your financial investments are in safe hands. We firmly believe that the union of TD Ameritrade and Schwab will benefit you. The enhanced resources, technology, and improved client support will create a more robust and comprehensive wealth management experience. Our commitment to your financial success remains unwavering, and we are confident that the TD Ameritrade and Schwab merge will contribute to your long-term prosperity. We will continue to monitor the integration process and communicate any updates to ensure a smooth transition and optimal client experience.

This commentary reflects the personal opinions, viewpoints and analyses of the Seaside Wealth Management, Inc. employees providing such comments, and should not be regarded as a description of advisory services provided by Seaside Wealth Management, Inc. or performance returns of any Seaside Wealth Management, Inc. client. The views reflected in the commentary are subject to change at any time without notice. Nothing in this commentary constitutes investment advice, performance data or any recommendation that any particular security, portfolio of securities, transaction or investment strategy is suitable for any specific person. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security. Seaside Wealth Management, Inc. manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Investments in securities involve the risk of loss. Past performance is no guarantee of future results