Frequently asked questions.

Get help with common questions about your transition.

About your move to Schwab

In most cases, all your accounts at TD Ameritrade will move to Schwab at the same time. There are some scenarios where we may need to move your accounts over multiple transition weekends. If this applies to you, we will communicate the individual transition dates for each of your accounts three months before their scheduled moves.

Our security procedures are designed, tested, and implemented to ensure the safety of your account, personal information, and financial assets. This remains a priority at both firms, now and through your account transition. We want you to have the highest level of confidence when you do business with Schwab. Learn more about our Security Guarantee.

We brought over your profile information, including home (legal) address, mailing address, primary email address, and phone numbers, from your account at TD Ameritrade to create your customer profile at Schwab. If you already have a Schwab account, this information matches your existing profile.

Your customer profile on Schwab.com and the Schwab Mobile app includes up to three phone numbers brought over from TD Ameritrade and classified by type: Home, Mobile, or Work. Any phone numbers at TD Ameritrade that did not have a type identified were automatically assigned to one of the three phone types at Schwab. You may edit both the phone numbers and type in your profile if they are not showing up as expected.

When you log in to Schwab for the first time, visit the Welcome Center and review what transferred over, confirm your profile, and update your account features.

  • Reestablish direct debit/payments: If you have direct debit instructions for payments out of your TD Ameritrade account set up at another financial institution, you'll need to reestablish those instructions with that financial institution after your account has moved to Schwab using the routing number and Demand Deposit Account (DDA) number for your Schwab account. The routing number and DDA number are different than your Schwab account number and can be found on your new Schwab checks.
  • Update direct deposits: If you have direct deposits set up to your TD Ameritrade account (like paychecks from your employer or Social Security payments), you'll need to update these instructions with your new Schwab account number and routing number. You'll receive both when your account transitions to Schwab.
  • Link to third-party accounts:  If you've given someone an authorized role on your account at TD Ameritrade, that authorization may or may not transition to Schwab. Here's how roles will transition and steps you may need to take after your account moves: 
    • Limited Trading Authority roles (which allow trading access) and Power of Attorney roles established at TD Ameritrade will move to Schwab. There is nothing you need to do, as these roles will move automatically.
    • Full Trading Authority roles (which allow trading and move money access) will transition as Limited Trading Authority. To allow someone to move money in and out of your Schwab account, you'll need to reestablish Full Trading Authority by logging in to Schwab.com and visiting the Account Settings tab.
    • Account Inquiry roles (which allow for inquiries into your account by phone but no ability to take action) will not transition to Schwab. If you want someone to be able to see your account information but not be able to trade or move money in or out of your account at Schwab, you can grant "View Only" access by logging in to Schwab.com and visiting the Account Settings tab.

At Schwab, people with View Only, Limited Trading Authority, Full Trading Authority, or Power of Attorney roles will have phone and digital access to your account, so they'll need to set up their own Schwab Login ID and password.

 

You should update these instructions as soon as possible after your move to Schwab, but any existing instructions will continue to process for at least 30 days after your transition. The assets will be withdrawn from your Schwab account via the daily residuals process. 
 

Account access

Yes. To get anytime, anywhere access to your account on the Schwab Mobile app once your account transitions:

  • Download the Schwab Mobile app from the App Store® or Google Play.
  • Log in to the app with your Schwab Login ID and password.

You'll receive information on how to set up your Schwab login info before your account transition date. If you already have a Schwab account, you'll use your existing Schwab Login ID and password.
 

Once on the app, you'll be able to view real-time, streaming market data, get breaking news on your positions, get quotes and place trades, view watchlists, and monitor orders and positions with tools optimized for tablets and smartphones.

There's no need to link accounts at Schwab. All accounts that you have digital access to, including those that you have an authorized role on (e.g., Limited or Full Trading Authority, Power of Attorney, etc.), will be viewable on your Accounts Summary page when you log in to Schwab.com after your transition is complete.

 

If you are currently linked to an account at TD Ameritrade but you aren't the account owner and don't have an authorized role, you'll no longer be able to view that account at Schwab. The account owner will need to grant you formal authorization at Schwab—either Limited Trading Authority (LTA), Full Trading Authority (FTA), View Only access, or Power of Attorney (POA) by logging in to Schwab.com and visiting the Account Settings tab.

If the digital access you granted was to a person with an authorized role on your account, including Limited Trading Authority, Full Trading Authority, or Power of Attorney, they'll continue to have digital access to your account once it has moved to Schwab.

 

If you've set the person up with an Account Inquiry role or they do not have an authorized role, they won't have access to your account after it moves to Schwab.

 

To give someone access to your account once your account has moved to Schwab, log in to Schwab.com and visit the Account Settings tab. From there, you'll be able to start the process to add a person to your account.

If you've given someone an authorized role on your account at TD Ameritrade, that authorization may or may not transition to Schwab. Here's how roles will transition and steps you may need to take after your account moves: 

  • Limited Trading Authority roles (which allow trading access) and Power of Attorney roles established at TD Ameritrade will move to Schwab. There is nothing you need to do, as these roles will move automatically.
  • Full Trading Authority roles (which allow trading and move money access) will transition as Limited Trading Authority. To allow someone to move money in and out of your Schwab account, you'll need to reestablish Full Trading Authority by logging in to Schwab.com and visiting the Account Settings tab.
  • Account Inquiry roles (which allow for inquiries into your account by phone but no ability to take action) will not transition to Schwab. If you want someone to be able to see your account information but not be able to trade or move money in or out of your account at Schwab, you can grant "View-Only" access after your account transitions by logging in to Schwab.com and visiting the Account Settings tab.

At Schwab, people with View Only, Limited Trading Authority, Full Trading Authority, or Power of Attorney roles will have phone and digital access to your account, so they'll need to set up their own Schwab Login ID and password.

Yes, because your account numbers will be changing, any links you have to third-party aggregators won't work once your TD Ameritrade account transitions.

 

If you would like to continue using a third-party aggregator once your account is at Schwab, you'll need go to the third-party app or website and start the process to add your Schwab account. Select Charles Schwab & Co. as the financial institution and you will be prompted to log in using your Schwab Login ID and password. Next, follow the steps to link your Schwab account to the aggregator. If you have any questions or encounter any difficulties when linking your Schwab account, contact the customer service team for the third-party aggregator directly.

 

As an alternative, you may want to consider Schwab's free aggregation service. Once enrolled, you can you link your non-Schwab accounts—including investment and bank accounts, credit cards, loans, mortgages, and real estate from over 15,000 financial institutions—on Schwab.com and view them all on the Accounts Summary page. The information is automatically updated so you can easily monitor your overall portfolio in one place.
 

Account information & settings

Yes. You'll be issued a new Schwab account number for each of your accounts that transition.

 

You'll see your new account number(s) after your account transitions, when you log in at Schwab.com and view your Accounts Summary page. You'll also receive a package in the mail or an email with important account information, including your new account number(s).

 

If you've provided your TD Ameritrade account number(s) to an employer, bank, or other third party for the purposes of moving money in and out of your account, you'll need to reestablish those instructions with your new Schwab account number(s) after your account transition is complete.

Yes. Once your account has transitioned to Schwab, you'll be able to access:

  • Up to ten years of historical tax documents, brokerage statements, and trade confirmations via the Statements tab on Schwab.com, and the Schwab Mobile app.
  • Up to four years of transaction history via the History tab on Schwab.com, the Schwab Mobile app, and on thinkorswim® (when it becomes available later in 2023). Your TD Ameritrade history will be shown under your Schwab account number, along with the recent transaction history for that account.
  • Realized gain/loss data via a link on the Realized Gains/Loss page on Schwab.com. The information will be available for at least two years after your move to Schwab.
  • Historical Balance information via historical TD Ameritrade statements on the Statements tab. Your Personal Value Chart on the Accounts Summary page of Schwab.com and the Schwab Mobile app will only reflect your account balance history from the date your transition to Schwab is complete. It will start to populate about three days after your move.

Complete details on filled orders can be found on your Trade Confirms, which we'll move over to Schwab for you. You can also find abbreviated details on filled orders on Schwab.com or in your Schwab Mobile transaction history. (Please note that trade confirms for trades executed on the Friday of transition weekend will be sent via paper. Once your account moves to Schwab, your paper/paperless preference will be honored).

 

Order history for changed or canceled orders will not move over to Schwab. If you have any questions or need those details, you can export 60 days of history to a spreadsheet. Just log in to your TD Ameritrade account, select Trade and set the filter to "past 60 days." Then select "Export data" on the top of the page.

In the month after your account has transitioned to Schwab, you'll receive two statements:

  • One from TD Ameritrade likely showing a $0 balance since your positions and cash have moved to Schwab
  • One from Schwab displaying the full account balance of your moved account

In the months that follow, if there is any activity in your closed TD Ameritrade account, you'll receive a statement reflecting that activity from TD Ameritrade.

 

Statements will be delivered based on your preferred method of delivery. If you receive paperless statements, you can access them at Schwab.com as soon as they're available.

 

Up to 10 years of past TD Ameritrade statements will be available to view on Schwab.com once your account has transitioned.

Certain text alerts and/or email notifications set up at tdameritrade.com or on the TD Ameritrade Mobile app won't transition, including:

  • Notifications for tax forms, money transfers, courtesy order fills, intraday risk, and margin calls set up under My Profile > Communication Preferences
  • Market, portfolio, and price alerts you set up in the Research > Alerts or Notifications section

Alerts you set up in thinkorswim® will remain active when your account moves to Schwab.

 

You'll be able to set up a range of alerts and notifications at Schwab once your account transitions by logging in to Schwab.com and visiting the Profile tab on the top right corner of the screen.

Your full history of Realized Gain/Loss information for your TD Ameritrade account will be available on Schwab.com by visiting Accounts > History and selecting the Realized Gain/Loss tab, and then clicking the GainsKeeper link for the appropriate account. This information will be available for at least two years after your move to Schwab. Your Realized Gain/Loss information is also available in historical TD Ameritrade account statements, which are accessible through the Statements tab on Schwab.com.
 

Your paperless preferences will automatically transition from TD Ameritrade to Schwab, which means:

  • Account documents currently set for e-delivery will continue to be emailed to you, as long as you log in to Schwab.com within 90 days of your account transition.
  • Account documents currently set for paper delivery will continue to be mailed to you.

To review or update your paperless selections now, log in at tdameritrade.com and go to My Profile > Communication Preferences. Once your account transitions, you'll need to log in to Schwab.com and click Profile at the top right corner of your screen

When your account moves to Schwab, you'll automatically be opted in to receive marketing communications and to allow Schwab to share your information with affiliates. After your account transitions, you can opt out of future marketing emails by clicking a link at the bottom of an email you receive. To opt out of affiliate sharing, you'll need to call a Schwab representative.

 

You'll be provided with Schwab's privacy policy before your account transitions, so you'll know how your information will be used and shared.


 

We're moving nearly all your account information, assets, open orders, cost basis, move money instructions, and history. However, certain account profile information, account authorizations, investment settings and instructions, move money profiles and instructions, and historical documents and information won't make the move. Additionally, the details of any important trades as order history for filled, changed, and canceled orders will not move with your account. Learn more about what is and is not moving.

Most beneficiaries will transition to Schwab, but there are a few exceptions. After your account moves to Schwab, we encourage you to check your beneficiaries by logging in to Schwab.com and navigating to the My Profile tab.

 

There are some registration types for which TD Ameritrade allowed beneficiaries and Schwab does not. If you had a beneficiary named on one the following account types, it will not transition to Schwab:

  • Community property
  • Corporate
  • Custodial
  • Investment club
  • LLC
  • Non-incorporated organization
  • Partnership
  • Sole proprietorship
  • Tenants in common

Additionally, beneficiaries on Guardianship, Conservatorship, All Tenants by Entirety, and frozen Keogh accounts will not transition as a role on the account. This means that they will not be viewable online, but they will be noted on file and recognized legally.
 

If your TD Ameritrade trust account has more than one trustee, each trustee will be authorized to act independently at Schwab. That means one trustee can act without the consent of other trustees when it comes to account activity and move money requests.

Trusted Contacts that you've already designated for your TD Ameritrade account will transition over to Schwab. We encourage you to check your Trusted Contacts after your account transitions by logging in to Schwab.com and navigating to the My Profile tab.

 

A Trusted Contact is someone other than the account owner who Schwab may contact if there are questions or concerns about your whereabouts or health status, if Schwab suspects that you may be the victim of fraud or financial exploitation or that you might not be able to handle your financial affairs, or to confirm identity of an authorized individual on your account. 

For some account types, Schwab uses different terminology than TD Ameritrade. However, the account type remains the same. For example, a UGMA/UTMA account at TD Ameritrade is called a Custodial Account at Schwab.

Accounts & assets

TD Ameritrade and Charles Schwab offer similar account types and investment and trading products.

 

While most common account types, products, and investments will transition automatically to Schwab, there are exceptions. If you hold a specific TD Ameritrade offering that is not moving to Schwab, you'll be notified ahead of time of alternatives and any actions you may need to take. 

 

If you're wondering about thinkorswim®, the innovative suite of trading platforms available on desktop, mobile, and web will be moving over later in 2023. All the thinkorswim educational resources, analysis tools, research features, and virtual trading on paperMoney® will be moving too.

Yes, if you stored your physical securities at TD Ameritrade, they'll be transferred to Schwab at the time your account moves to Schwab.

For equity cash dividends: 

  • Where the record date is prior to your move to Schwab and payment is after your move to Schwab, the dividend will be paid as cash in your former TD Ameritrade account and swept overnight to your Schwab account via the daily cash residual process. The cash will NOT be reinvested per dividend instructions.
  • Where the record date is after your move to Schwab, the dividend will be paid to the transitioned Schwab account and will follow any reinvestment instructions you have set up.  

For mutual fund dividends: 

  • Depending on the time of month your account transitions to Schwab, accruals may be paid in cash to your TD Ameritrade account and will move to your Schwab account overnight, or accruals may be paid to your TD Ameritrade account based on your dividend reinvestment selection, with any securities moved to your Schwab account at the next weekly residual conversion.

Any payments or assets made to your TD Ameritrade account after it has transitioned to Schwab will be moved to your Schwab account, but this may not happen right away. For the first month after your account moves to Schwab, cash payments will be transferred on a nightly basis and assets will be transferred weekly. They'll then be transferred monthly after that first month.

 

Any dividends, interest, and interest credits from prior to your transition that have paid out but have not yet been distributed to you will be converted as cash to your Schwab account. These will not be distributed via any Pay Income instructions you had set up in your TD Ameritrade account. Additionally, any other residual activity from dividends, interest, and interest credits will not be distributed via your Pay Income instructions, but any other regular activity after your transition will follow your existing instructions. 

 

You can view any residual account activity in your Transaction History by logging on to Schwab.com > History > Transactions. Residual activity will be tagged with "TDA TRAN" to indicate any payments or assets moving into your Schwab account from your TD Ameritrade account after your account has moved to Schwab. You'll also receive a statement from TD Ameritrade for any period with residual activity.

Any withdrawals from your TD Ameritrade account after it has transitioned to Schwab will be moved from your new Schwab account to your TD Ameritrade account. For the first month after your account moves to Schwab, cash payments will be transferred on a nightly basis and assets will be transferred weekly. They'll then be transferred monthly after that first month.

 

You can view any residual account activity in your Transaction History by logging on to Schwab.com > History > Transactions. Residual activity will be tagged with "TDA TRAN" to indicate any payments or assets moving into your Schwab account from your TD Ameritrade account after your account has moved to Schwab. You'll also receive a statement from TD Ameritrade for any period with residual activity.

TD Ameritrade clients currently have access to up to two program banks, each offering up to $247,500 in FDIC insurance, per depositor. Once your account moves to Schwab, you will have access to up to three program banks, each offering up to $249,000 in FDIC insurance, per depositor.

Education & research

Both TD Ameritrade and Schwab understand the importance of investing and trading education. While not all of the educational resources are transitioning to Schwab, you'll still have access to much of the content from TD Ameritrade like curated learning paths and courses. Plus, you'll now have additional content from Schwab, including articles, videos, podcasts, newsletters, and events covering investing, trading, and personal finance topics for all types of investors.

 

Though your education experience will be similar to what you had at TD Ameritrade, your education course progress and history won't transition to Schwab. That means if you've already completed certain content modules or courses at TD Ameritrade or are in the process of taking a course, you'll no longer see that information after your account transitions.

Yes. thinkorswim® is moving to Schwab later in 2023, and so is the thinkorswim Learning Center. You'll have access to all its tutorials, guides, and references that help you use the technical analysis tools, customize and trade on the platform, and keep you up to date on the latest innovations.
 

Schwab offers in-depth research from industry-respected third parties, including Morningstar, CFRA, MarketEdge®, and Argus. Plus, proprietary Schwab research, including Sector Views, Select List® reports, and Schwab Equity Ratings®, which provides actionable buy, hold, or sell guidance on thousands of stocks each week. Once your transition is complete, you can visit the Research tab on Schwab.com to sign up for the reports that are most relevant to you and have them sent directly to your inbox. 

 

In addition, from the experts at the Schwab Center for Financial Research, you'll have access to free-from-hype perspectives and timely insights on topics that matter to you. This includes the day's market happenings, the economy, financial and retirement planning, portfolio management, sector views, equity ratings, mutual fund and ETF selections, trader outlook, options, futures, and investment strategy. 

 

Third-party research may have a nominal fee. Research from Schwab is always free. And all of it is part of the comprehensive research experience waiting for you once your account transition is complete.
 

TD Ameritrade Network will be getting a new name, but will continue to offer the live, streaming programming viewers are used to seeing. In fact, there will be new on-air hosts and contributors along with other changes to make the experience even better.

 

Market Minute newsletter subscribers will continue to get commentary and clips about what's moving the market delivered to their inbox daily. They won't need to resubscribe.

 

While TD Ameritrade Network content can always be viewed directly through its site, Schwab plans to continue making it available through the thinkorswim® platforms as well.

Moving money

Most of your move money profiles and instructions will transition to Schwab without you having to do anything. We encourage you to log in after your account transition is complete to check that everything is set up as expected.

 

If you had direct deposit (e.g., paychecks from your employer or Social Security payments) set up to your TD Ameritrade account, you'll need to update those instructions with your new Schwab account and routing number, after your account has moved to Schwab.

 

If you had direct payments set up to another financial institution (e.g., mortgage payment), you'll need to reestablish those after your transition using your new Schwab routing number and Demand Deposit Account (DDA) number found on your new Schwab checks.

Yes, if you have direct deposits set up to your TD Ameritrade account (like paychecks from your employer or Social Security payments), you'll need to update these instructions with your new Schwab account number and routing number. You'll receive both when your account transitions to Schwab.

 

While you're encouraged to identify your direct deposits ahead of time and provide the updates as soon as possible after your transition, your direct deposit instructions will continue to process for at least 30 days after your move to Schwab. Cash will be deposited to your Schwab account from your old TD Ameritrade account overnight for 30 days after your transition, and monthly thereafter.

If you have direct debit instructions for payments out of your TD Ameritrade account set up at another financial institution, you'll need to reestablish those instructions with that financial institution after your account has moved to Schwab using the routing number and Demand Deposit Account (DDA) number for your Schwab account. The routing number and DDA number are different than your Schwab account number and can be found on your new Schwab checks.

 

You should update these instructions as soon as possible after your move to Schwab, but any existing instructions will continue to process for at least 30 days after your transition. The assets will be withdrawn from your Schwab account via the daily residuals process.

The year-to-date contribution and distribution information on Schwab platforms will not include contributions or distributions that were made at TD Ameritrade prior to your transition. You will need to refer to your final TD Ameritrade statement (accessible on Schwab.com via the Statements tab) to obtain contribution and distribution data from the beginning of the year through your transition weekend. This can be added to the data shown on Schwab platforms to determine your total year-to-date contributions and distributions.

 

Clients with access to the RMD Center on Schwab.com will be able to see both pre- and post-transition distributions.

Systematic RMD instructions you currently have set up to transfer from a Traditional, Rollover, SEP, or SIMPLE IRA to a nonretirement account at TD Ameritrade will carry over to Schwab. For other account types, there may be instances where we are unable to transfer your systematic RMD instructions to your Schwab account.

Instructions you have set up at TD Ameritrade to receive dividends, interest, and/or interest credit payments (Money Market Funds interest) via ACH or check will transition to Schwab. Please note that these instructions will not transition to Schwab for pledged accounts.

 

You'll be able to see these Pay Income instructions online by logging in to Schwab.com, navigating to Move Money > Online Transfers, and scrolling down to the Recent Transfer Status table.

 

Once your account transitions to Schwab, if you wish to edit or delete your Pay Income instructions, you will need to either:

Any activity from dividends, interest, and interest credits in your TD Ameritrade account after your transition to Schwab will be moved as cash to your Schwab account and will not be distributed via your Pay Income instructions. This includes any dividends, interest, and interest credits from prior to the move that were not distributed by the transition weekend.
 

Tax information

Your tax forms for the 2022 tax year will be generated by TD Ameritrade and you will be able to access them online. 

 

If your documents are available prior to your transition, you will be able to access them in the TD Ameritrade Tax Center and at Schwab after your transition.

 

If your documents become available after your transition to Schwab, you can access them on Schwab.com in the Accounts section under Statements. 

 

While all tax documents for the 2022 tax year will be generated by TD Ameritrade, any forms that become available after your transition (including any corrections) will be delivered by Schwab.

Since your TD Ameritrade account will transition from one broker-dealer to another in 2023, you'll receive two 1099 forms for the 2023 tax-reporting year—one from TD Ameritrade and one from Schwab.

 

The information on the forms will be exclusive, and you'll need to report the amounts from both TD Ameritrade and Schwab when you file your taxes.

 

If you need to see or get your historical tax documents, you can access them after your account transitions by logging in to Schwab.com and going to Accounts > Statements > Doc Type: Tax Forms.
 

After your TD Ameritrade account transfers to Schwab, you'll be able to import your Schwab 1099 Composite data, in addition to your TD Ameritrade data, directly into Turbo Tax®, TaxAct® or H&R Block® tax preparation software.

 

If you'll be using tax preparation software, you'll need to give your software provider access to your Schwab account to directly import your 1099 data.

 

To import your tax information data up to the date of your account transition, use your Document ID from the TDA 1099 consolidated tax form and 9-digit TD Ameritrade account number.

 

For your Schwab account tax data, use your Schwab Login ID and password.

  • Individual security class: If you have an individual security class method selected at TD Ameritrade, it will carry over to Schwab automatically. At Schwab, you can select a single cost basis default that will apply to all securities in each account. However, you won't be able to set different defaults based on the type of security class.
  • Accounts with mixed cost basis: Accounts that have mixed cost basis instructions will be set to FIFO upon your account transition. After your transition is complete, you'll be able to select specific lots at the time of trade and up until the settlement date.
  • Mutual funds: At Schwab, all mutual funds are defaulted to average cost. For equities, options, and bonds, Schwab accommodates one selection: FIFO, LIFO, HCLOT, LCLOT, or BTAX.

All tax withholding elections will be reset to state and federal minimums. In addition, if you have a different tax withholding election than the state listed for your address on your account, your tax withholding election will be updated with the state minimum for your state on file.

 

Any distribution instructions that you have set up at TD Ameritrade where no tax is deducted (i.e., a Qualified Charitable Distribution) will be reset to the Federal and State minimums once your account moves to Schwab.

 

We encourage you to review your tax withholding elections once your account has moved to Schwab and make any necessary changes.


 

Trading & investing

Yes, the thinkorswim® platforms are coming to Schwab later in 2023. We'll provide more detailed information as we get closer to the date.

Yes, most open orders will move to Schwab. The order types that will NOT move are advanced orders (such as One Cancels Other), conditional orders (such as triggers), trailing stop orders, and EXTO orders. If you have any of these order types open at the time of your move and want to continue working them, please note the order details before your account transitions. You will need to reestablish the orders at Schwab after your account has moved. 

Watchlists: All watchlists will move to Schwab. If you use watchlists in the TD Ameritrade Mobile app, be aware that watchlists that are saved locally on your mobile device will not move to Schwab. Only watchlists that are saved in the app itself will move.

 

In addition, please be aware that once you are at Schwab, watchlists will not sync between thinkorswim® and Schwab.com or Schwab Mobile. Any change to one requires a manual update to the other in order to keep watchlists aligned.

 

Alerts: Alerts set up on tdameritrade.com or on the TD Ameritrade Mobile app will not move. These will need to be set up again on Schwab.com. For thinkorswim users, all alerts are moving to Schwab and will remain fully accessible on thinkorswim at Schwab. 
 

Your TD Ameritrade DRIP elections for eligible stocks and ETFs will move to Schwab at the time of your transition. After the transition, any additional purchases of these currently held stocks and ETFs in your Schwab account will automatically follow the elections that transitioned with you. 

 

Any net new positions established in your Schwab account won't automatically be opted in to dividend reinvestment at Schwab. You must enroll each eligible stock and ETF separately, and you can do that from the Positions page on Schwab.com. You will not be able to enroll your entire account as you may have done at TD Ameritrade. 

 

Additionally, you should be aware of some other differences between dividend reinvestment at TD Ameritrade and Schwab: 

  • Fund Standing Instructions for Mutual Funds: Capital gains and dividend settings will transition to Schwab, with one exception. If you currently have capital gains set to be distributed as cash and dividends set to be reinvested at TD Ameritrade, both will be set to reinvest at Schwab.
  • American Depositary Receipt (ADR) securities: Dividends on ADR securities are not eligible for automatic reinvestment at Schwab. These will be distributed as cash and you can manually reinvest dividends back into the ADR.
  • Processing: Because Schwab waits for the receipt of dividends before distributing the funds, you may notice that reinvested shares are not visible or tradeable in your account until the day following reinvestment. Also, you may see the dividend in your account as cash before the reinvestment takes place.  

Your options approval level will move with your account to Schwab, meaning you'll have the equivalent options approval level in your new Schwab account. There will be no change in terms of the options strategies that you can trade in your account before and after the transition.

 

Options approval is at the account level. If you have multiple options-approved accounts, each account will move to Schwab with its respective options approval level—which could be different for each account.

 

You can view a comparison table to see how options approval levels matchup between TD Ameritrade and Schwab. 
 

Yes, the margin feature on your account will move with the account to Schwab.  You'll still be able to utilize margin on all trading platforms at Schwab.

House requirements will remain at 30%, though there is the potential for some differences in concentration requirements. You'll be able to view margin requirements from the trade ticket on Schwab.com. You can also visit schwab.com/margin-updates to check on certain securities with special margin requirements.

Yes, Schwab has robust portfolio performance reporting tools. One of the most popular tools allows you to calculate your rate of return, both from an overall portfolio perspective and by account. It also allows you to look at your performance by asset class. You can utilize pre-selected timeframes or create a custom timeframe to see how you're doing over time. In addition, Schwab has a Portfolio Checkup tool that lets you look at your asset allocation, monitor your sector diversification, and see your equity concentration. You'll be able to find these tools on Schwab.com under Accounts > Portfolio Performance.

As a critical first step following your first login at Schwab.com and the Schwab Mobile app, we encourage you to visit the Welcome Center to review what's moved to Schwab, confirm your profile, and update your account features.

 

Also, to help you get used to Schwab's platform, a How To Center has been set up, complete with useful instructional videos that tell you what you need to know to get up and running fast. All of this will be available to you—and easy to find—when you log in for the first time at Schwab.com and the Schwab Mobile app.
 

Yes. You'll discover a broad spectrum of new investing options available to you at Schwab. Here are a few to look forward to.

 

  • Schwab Stock Slices®. Schwab Stock Slices allows you to own fractional shares of any company in the S&P 500® for as little as $5 per "slice." Fractional shares are less than a whole share, and they allow you to purchase stocks based on the dollar amount you want to invest. Trading is commission-free when done online. Learn more about Schwab Stock Slices.
  • Thematic investing. Thematic investing is an approach that helps you discover and invest in new trends and opportunities. In contrast to sector investing, thematic investing can span multiple sectors. Schwab's proprietary artificial intelligence technology has been utilized to construct more than 40 curated stock lists, each focusing on an investable theme, such as renewable energy, genomics, and space technology. Learn more about thematic investing.
  • Global investing. There's more to the world than just U.S. markets. Schwab offers direct equity trading in over 30 foreign markets using a Schwab brokerage account, with a dedicated global trading desk staffed 24 hours a day from Sunday evening through Friday afternoon, covering the market hours around the world. In addition, with a separate Schwab Global Account™, you can trade foreign stocks in their local currencies in 12 of the top-traded markets. Learn more about global investing.
  • Schwab Personalized Indexing™. Taking direct indexing to the next level, Schwab Personalized Indexing is a managed account that builds a portfolio of individual stocks that reflect the characteristics of an index. The investment approach is customizable and allows for tax-loss harvesting. Learn more about Schwab Personalized Indexing.
  • Automated investing. You can have a robo-advisor build and manage your portfolio with Schwab Intelligent Portfolios®. With Schwab Intelligent Portfolios Premium®, you can also get unlimited guidance from a CERTIFIED FINANCIAL PLANNER™ in addition to the robo-advisor, for a monthly subscription fee. And Schwab Intelligent Income® allows you to meet your income needs by generating a monthly paycheck from either of the automated solutions. Learn more about Schwab Intelligent Income.

Service & support

Yes. Your Financial Consultant will be moving with you to Schwab and will be ready and able to help you with all products and services that Schwab offers.

Once your account transitions, you'll start contacting Schwab for 24/7/365 customer service at 800-435-4000.

You can expect the same type of high-quality service that you get at TD Ameritrade. You can contact Schwab by phone, chat, or email for 24/7/365 support. Or you can visit a Schwab branch during regular business hours. We're happy to inform you that the service teams you work with at TD Ameritrade will transition with you and be able to keep serving you.

There are resources available to support you throughout your transition.

 

Online resources

  • The Client Information Hub will keep you up to date on general information about the transition process, help and how-to resources, and more about what's waiting for you at Schwab.
  • After your transition is complete and you log in to Schwab.com for the first time, our Welcome Center will guide you through any actions needed, and help you get to know Schwab. 

Communications

  • After your transition is complete, you'll receive a series of onboarding communications from Schwab to welcome you, familiarize you with products and services, and get you set up with your trading and investing experience quickly and smoothly. 

Service

  • If you have questions about your account transition before or after your move, you can call 800-780-8614 to talk with a representative.
  • You can also use online chat or our digital assistant, Schwab Assistant on Schwab.com.

Prior to your account moving to Schwab, any TD Ameritrade branch, including a location combined with a Schwab branch, can assist you with your TD Ameritrade account. After your account moves to Schwab, you can use any Schwab branch.

When the integration of TD Ameritrade and Schwab is complete, there will be over 400 Schwab branches, including 100 Independent Branch locations. To view a full list of current Schwab branches, visit the branch locator.

Pricing & fees

From day one Schwab has helped lead the way in offering greater value for investors by driving down costs. There have already been price improvements at TD Ameritrade after being acquired by Charles Schwab. And that will continue, as most TD Ameritrade clients will experience pricing that is the same or better when they move to Schwab. See for yourself.

Yes. Online trade commissions will continue to be $0 at Schwab. This includes stocks, ETFs, and mutual funds. Options trades have a $0 online base commission and a $0.65 per contract fee. Learn more about pricing at Schwab.


 

Have more questions?

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    Contact Schwab

    After your transition is complete, please contact Schwab with your questions.


Brokerage Products: Not FDIC Insured • No Bank Guarantee • May Lose Value

 

Investing involves risk including loss of principal.

This information is not intended to be a substitute for specific individualized tax, legal or investment planning advice.

Schwab does not provide tax advice. Clients should consult a professional tax advisor for their tax advice needs. TurboTax® and TurboTax Online, among others, are registered trademarks and/or service marks of Intuit Inc. in the United States and other countries. Charles Schwab & Co., Inc. is not affiliated with TurboTax, Intuit Inc., or any of its subsidiaries.

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Investors should carefully consider information contained in the prospectus, or, if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a mutual fund prospectus by calling Schwab at 1-800-435-4000. Please read the prospectus carefully before investing.

An investment in a money market mutual fund is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Although the fund seeks to preserve the value of your investment at $1.00 per share, it is possible to lose money by investing in the fund.

Standard online $0 commission does not apply to over-the-counter (OTC) equities, transaction-fee mutual funds, futures, fixed-income investments, or trades placed directly on a foreign exchange or in the Canadian market. Options trades will be subject to the standard $0.65 per-contract fee. Service charges apply for trades placed through a broker ($25) or by automated phone ($5). Exchange process, ADR, and Stock Borrow fees still apply. See the Charles Schwab Pricing Guide for Individual Investors for full fee and commission schedules.

International investments are subject to additional risks such as currency fluctuation, geopolitical risk and the potential for illiquid markets.

Schwab Stock Slices® is not intended to be investment advice or a recommendation of any stock. Investing in stocks can be volatile and involves risk, including loss of principal. Consider your individual circumstances prior to investing.

Investment Research for thematic stock lists is provided by Charles Schwab Investment Management, Inc. ("CSIM"). CSIM is an affiliate of Charles Schwab & Co., Inc. ("Schwab"). Both CSIM and Schwab are separate entities and subsidiaries of The Charles Schwab Corporation.

Thematic stock lists are not intended to be investment advice or a recommendation of any stock. Investing in stocks can be volatile and involves risk, including loss of principal. Consider your individual circumstances prior to investing.

We encourage you to read the Schwab Intelligent Portfolios Solutions™ disclosure brochures for important information, pricing, and disclosures. Before you enroll, it's important you understand any and all costs, including the role of cash and the way Schwab earns income from the cash allocation in your portfolio, which will affect performance, and how Schwab and its affiliates work together.

Schwab Intelligent Portfolios® and Schwab Intelligent Portfolios Premium® are made available through Charles Schwab & Co., Inc. ("Schwab"), a dually registered investment advisor and broker-dealer. Portfolio Management for the Schwab Intelligent Portfolios is provided by Charles Schwab Investment Advisory, Inc. ("CSIA"), a registered investment adviser and an affiliate of Charles Schwab & Co, Inc. ("Schwab"). Both CSIA and Schwab are separate entities and subsidiaries of The Charles Schwab Corporation.

Charles Schwab Investment Management, Inc. (CSIM), the investment advisor for Schwab Funds®, and Schwab, Member SIPC, the distributor for Schwab Funds, are separate but affiliated companies and subsidiaries of The Charles Schwab Corporation.

Portfolio Management for Schwab Personalized Indexing ™ is provided by Charles Schwab Investment Management, Inc., dba Schwab Asset Management, a registered investment adviser and an affiliate of Charles Schwab & Co., Inc. ("Schwab").  Both Schwab Asset Management and Schwab are separate entities and subsidiaries of The Charles Schwab Corporation.

Please refer to the Charles Schwab Investment Management, Inc. Disclosure Brochure for additional information.

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