Frequently asked questions.
Answers for participants in one of the Self-Directed Plan Services (SDPS) accounts: retirement Self-Directed Brokerage Accounts (SDBAs), Employer-Sponsored Brokerage Accounts (ESBAs), and Health Savings Brokerage Accounts (HSBAs).
About your move to Schwab
We are working to make your transition to Schwab as smooth as possible. Below are key dates and other information to help you understand the process and prepare for a successful move.
Dates and deadlines:
July 31: First day to create your Schwab login info
August 11: Last day to grant trading authority to a third party on your account
August 18: Last day to make certain updates until your account moves to Schwab (Ex. My Profile updates, beneficiary and dividend reinvestment changes)
August 18: Final day to open a new SDPS account
August 21: Last day to request any full or partial transfers between TD Ameritrade and other firms
September 1: Final day of trading at TD Ameritrade
September 1, 8:30 p.m. ET-September 5, 5:00 a.m. ET: Account unavailable during holiday weekend transition
September 5, 5:00 a.m. ET: Account access begins on Schwab platforms (web and mobile)
- All your assets (cash and positions) and most of your open orders, settings, instructions, and preferences will move to Schwab automatically and securely.
- TD Ameritrade SDBA will become Schwab Personal Choice Retirement Account® (PCRA). TD Ameritrade HSBA and ESBA will become Schwab HSBA and ESBA.
- Prior to your transition weekend, you'll be invited to create a Schwab Login ID and password. While you'll be asked to create login credentials prior to your transition, you'll continue to access your account at TD Ameritrade until after the transition weekend. If you already have a Schwab account, you'll skip this step and use your existing Schwab Login ID and password to access your account.
- After your transition weekend, you'll begin accessing your account using your new Schwab Login ID and password on Schwab.com or the Schwab Mobile app.
- The assets in your account will remain within your retirement or health savings plan and will be transitioned automatically from TD Ameritrade to Schwab.
- In most cases you don't need to take any action other than to create your new Schwab Login ID and password prior to your transition weekend.
Yes. If you're new to Schwab, you'll need to set up a Schwab Login ID and password to access your account after it transitions.
About a month before your transition date, you'll be sent an email or letter asking you to set up your Schwab Login ID and password. Instructions will also be provided when you're logged in at tdameritrade.com. It should take about 5 minutes to set up your login info.
When you set up your Schwab login info, you'll be able to preview a list of your TD Ameritrade accounts that are moving to Schwab. You won't see the assets in your Schwab account until after your transition is complete.
It's recommended that you set up your login info before your account transitions so you're ready to go on day one at Schwab. If your account has multiple owners or authorized parties, each individual will need to set up their own Login ID and password to be able to view and trade on the account.
Find out more information about setting up your Schwab login info.
If you already have an account at Schwab, please visit the Already a Schwab client? page for more information. Please note the information contained in this page is not tailored for SDPS accounts.
Until your TD Ameritrade account transition date:
- You'll continue to manage your accounts at TD Ameritrade and Schwab separately.
- If you have updates to make on your accounts, such as your address or phone number, you'll make them separately at each firm.
- You'll call TD Ameritrade for questions on your TD Ameritrade account, and Schwab for questions about your Schwab account.
About a month before your transition date, you'll receive a notice in the Schwab Message Center with a link to preview a list of your TD Ameritrade accounts moving to Schwab. You'll need to log in at Schwab.com using your existing Schwab Login ID and password to view your notice.
After your accounts transition to Schwab, they'll appear on the Accounts Summary page with your other Schwab accounts. You'll use your existing Schwab Login ID and password to access, manage, and trade in all your Schwab accounts across Schwab platforms.
- Our strong relationship with your service provider will remain unchanged; we have been working with your service provider to work toward a seamless transition.
- You will continue to access your accounts through your service provider as always.
Your assets will remain invested in the market; they'll move to Schwab over a weekend to ensure you're able to access your accounts when the market is open. You won't miss any market days.
- Normal access to investing, research tools, and capabilities will remain through the Friday of your transition weekend.
- Moving funds between your core retirement or health savings plan and TD Ameritrade may be briefly suspended. Contact your provider for more details.
- Yes. If clients have set a Verbal Password on their account, it will transfer to their Account at Schwab.
- These will continue to be Account Level Passwords, there is not a Customer ID level Verbal Password.
Most of your account features and settings will transition to Schwab. Below are exceptions along with steps you can take to be prepared.
- Your user ID and password. About one month before your transition, we will give you instructions to create a Schwab Login ID and password. Use these to access all Schwab platforms after your account moves. If you already have a Schwab account, you can skip this step.
- Research screeners. Download your saved screens to a spreadsheet to save them for future reference. Log in to tdameritrade.com from a desktop or laptop computer, go to the Screeners page, and select Export data. After your transition, set up stock, options, ETF, and mutual fund screeners at Schwab.
- Balance history chart. Download your balance history chart data to a spreadsheet to save it for future reference. Log in to tdameritrade.com from a desktop or laptop computer, go to Balances > Balance History, and select Export history.
- Alerts and notifications. Alerts cannot be downloaded but you can make note of any alerts you've set at TD Ameritrade and then set up alerts at Schwab after your account moves.
- Mobile watchlists. Log in to the TD Ameritrade Mobile app to confirm that your watchlists are saved to the server, and not to your mobile device. Any watchlists saved to your device will not move to Schwab.
- Trade triggers. Your trade triggers will not move to Schwab. If you want to retain them, please note their details before your account moves so that you can reestablish them at Schwab.
- Order history. Complete details on filled orders can be found on your trade confirmations, which will move to Schwab. Abbreviated details on filled orders will appear on schwab.com and Schwab Mobile transaction history. To save additional order details, including cancelled orders, you can export 60 days of order history to a spreadsheet. Log in to tdameritrade.com from a desktop or laptop computer, go to Trade > Order Status, set the filter to past 60 days, and select Export data at the top of the page.
- Education courses. Be sure to finish any courses you are working on. Your progress will reset after your account moves.
- Secure Message Center messages. Be sure to print any important messages for future reference.
- Linked accounts. In most cases, your accounts will move to Schwab over the same weekend. However, if some of your accounts are moving later, note the user ID and password for those accounts. You will not be able to log in to TD Ameritrade with the user ID of an account that has already moved to Schwab.
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.
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) established at TD Ameritrade will move to Schwab. There is nothing you need to do, as these roles will move automatically.
- Power of Attorney roles established at TD Ameritrade will be converted to Limited Trading Authority roles. You will still have trading access.
- 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 or Limited Trading Authority roles will have phone and digital access to your account, so they'll need to set up their own Schwab Login ID and password.
No. If you previously sent in a FINRA Rule 3210 consent letter (formerly known as a 407 consent letter) and already have one in place at TD Ameritrade, a new letter will not be required as part of the transition.
For any new accounts opened at Schwab, you may need to complete a new FINRA Rule 3210 consent letter as part of the new account opening process at Schwab.
Account information & settings
Yes. Once your account has transitioned to Schwab, you'll be able to access:
- Up to 10 years of historical brokerage statements and trade confirmations via the Statements tab on Schwab.com by navigating to Accounts > Statements.
- Up to four years of transaction history via the History tab on Schwab.com by navigating to Accounts > History. 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.
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.
- Yes. If you or your plan have set up additional recipients to receive duplicate paper statements or trade confirmations, the recipients will continue to receive those documents.
- Electronic access is available at Schwab and is expected to transfer if currently in place at TD Ameritrade.
In most cases your cost basis will carry to Schwab automatically. To find cost basis information when you log in to Schwab.com, go to Accounts > Positions > Market Value.
Accounts & assets
- Most investments will not be impacted by the transition.
- In those circumstances that an investment can't transfer, you'll be notified in advance to determine the best course of action.
- Any payments or assets deposited into your TD Ameritrade account after it has transitioned to Schwab will be automatically transferred to your Schwab account. After your account moves to Schwab, cash payments will be transferred nightly and assets will be transferred weekly.
- Residual activity from dividends, interest, and interest credit will be transferred to your Schwab account.
- If you own a security that is currently going through a corporate action, has a legal restriction, or is a recent purchase or transfer of an alternative investment, it may take additional time to show up in your Schwab account. Once the event or restriction is cleared, the security will automatically transfer to your Schwab account.
- You can view any residual account activity in your transaction history by logging in to Schwab.com and navigating to Accounts > 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.
In bringing the best of two great firms together, account holders will get access to several new tools and features. Here are a few noteworthy features to look forward to.
New for account holders:
- Schwab Stock Slices®
A simple, low-cost way to invest in any company in the S&P 500®. Now anyone can own fractional shares of any of America's leading companies in the S&P 500® for as little as $5, even if their shares cost more.
- Thematic research
Schwab uses a unique research process to uncover emerging trends and innovations and to assess their investment potential. We use artificial intelligence to help us mine terabytes of data and discover companies to consider for a given theme. After filtering out companies that don't meet our criteria, a list of highly relevant stocks is generated for each theme and reviewed frequently.
You can research our catalog of 40+ thematic stock lists by keyword, company, stock symbol, or theme name. And there's no fee to access our thematic stock lists.
- Environmental, social, and governance (ESG) investing
This investment approach puts a degree of emphasis on social or environmental factors, in addition to traditional risk and return considerations. Participants can choose from over 300 mutual funds and over 200 ETFs to find and compare ESG funds using Schwab's proprietary screening and comparison tools.
- Customizable screener tools
When you are looking for investments that meet very specific criteria and you need to narrow down the many choices, you can use our customizable screeners to perform searches based on factors that are important to you. You can find screeners for stocks, mutual funds, ETFs, and bonds. You can also screen for socially responsible investments with mutual fund and ETF screener tools.
You can hone your investing skills by attending online and in-branch events on topics such as building a diversified portfolio and making the most of Schwab.com. And you'll have access to a wealth of curated insights and education, including a selection of courses as well as articles, videos, and podcasts for every type of investor.
- Schwab Stock Slices®
Trading & investing
If you currently utilize the thinkorswim® platform at TD Ameritrade for your SDPS account, after your account transitions, you'll have immediate access to thinkorswim desktop, web, and mobile— including all the powerful charts and tools you use today. Plus, any settings, preferences, or alerts that you previously set up on thinkorswim will automatically carry over to Schwab.
However, you won't be able to place a trade on thinkorswim or view your account balances and positions through the platforms just yet. The interruption should be brief—we'll let you know as soon as it's ready. Keep in mind, you will be able to trade right away on Schwab.com and the Schwab Mobile app while you wait for trading on thinkorswim to become available.
Things to keep in mind:
- You'll be able to use the same desktop and mobile downloads of thinkorswim that you use now—there's no need to download new software or apps. However, the first time you log in to each platform, you'll need to use your new Schwab login information.
Yes, all open orders, except trade triggers, will move to Schwab. When they move, your open orders will receive an updated entry date and time as part of the transition process. Instead of showing the date and time the orders were entered at TD Ameritrade, the orders will reflect the date and time the order moved to Schwab during the transition. The expiration date will not change and will remain the same as when the order was placed at TD Ameritrade.
If you want to retain your trade triggers, please note their details before your account moves so that you can re-establish them at Schwab.
Your TD Ameritrade dividend reinvestment 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 for 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 and foreign ordinaries (ORDs): Dividend reinvestment on ADR securities and ORDs is not offered at Schwab. These will be distributed as cash.
- 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.
- The DTC Dividend Reinvestment Program: For a limited number of stocks, TD Ameritrade offered dividend reinvestment through The Depository Trust Company (DTC). While Schwab does not participate in the DTC Dividend Reinvestment Program, dividends will be reinvested through our open market dividend reinvestment program.
If your account is currently enrolled in systematic (recurring) mutual fund investments, which automatically buys or sells a specified amount or percentage of the fund on a regular basis based on instructions you have provided, your systematic mutual fund investment elections will NOT move over to Schwab.
Schwab Automatic Investment Plan (AIP), an equivalent program to TD Ameritrade's systematic mutual fund investments, will be available after your transition to Schwab and will allow you to make systematic mutual fund buys and sells in the customizable amounts and frequencies you've established.
You can continue to view, create, modify, or cancel systematic mutual fund transactions within your TD Ameritrade account through September 1, 2023 at 5:30 p.m. ET.
After your account transitions, please visit schwab.com/AIP to enroll and reestablish new instructions. Schwab.com/AIP will be your new location for viewing mutual fund positions eligible for enrollment, establishing new instructions, and as well as modifying, or canceling instructions.
In most cases, 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.
Options approval level may also be dictated by your retirement plan or health savings program.
- Yes, Schwab supports regular session, pre-market, and after hours trading sessions.
- Regular Session: weekdays 9:30am – 4:00pm ET
- Pre-market: Orders can be placed between 8:05 p.m. (previous trading day) and 9:25 a.m. ET and will be eligible for execution between 7:00 a.m. and 9:25 a.m. ET.
- After hours: Orders can be placed and are eligible for execution between 4:05 p.m. and 8:00 p.m. ET.
Service & support
Will my advisor still be able to manage my account?
Yes, the access that you've granted your advisor will be maintained with no action needed by you.
Is my advisor informed of what is going to happen?
Yes, we have been working closely with advisors who work with the TD Ameritrade Institutional platform to ensure they are fully prepared and ready for the transition of their clients' accounts to Schwab.
How can I verify that my advisor still has authority on my account once I log in to Schwab after the transition?
Each advisor will be outlined on your account as having a Role on your account. To validate that your advisor is listed on your account, you can check the Roles on your account through Schwab.com. On Schwab.com, navigate to the Service menu. Then to Account Settings. In the upper left corner, select your PCRA account. Scroll to the Roles on this Account section. Verify that your advisor or advisor's firm is listed as having Limited Power Financial Advisor.
Am I able to designate an advisor to manage my PCRA?
Yes, when the plan allows, participants are able to have their independent Registered Investment Advisor submit the Schwab Personal Choice Retirement Account® (PCRA) Limited Power of Attorney (LPOA) Form To Authorize an Investment Advisor.
Is my advisor able to charge their fees?
Yes, when the plan allows, participants are able to authorize their independent Registered Investment Advisor to assess management fees to the PCRA by indicating so on the Schwab Personal Choice Retirement Account® (PCRA) Limited Power of Attorney (LPOA) Form To Authorize an Investment Advisor.
Is there any change in fees when an Advisor manages my PCRA?
Authorized RIAs will incur the standard transaction fees associated with the PCRA fee schedule for your plan, unless they have a custom fee schedule agreement with Charles Schwab and you authorize the use of that agreement for your PCRA on the Schwab Personal Choice Retirement Account® (PCRA) Limited Power of Attorney (LPOA) Form To Authorize an Investment Advisor.
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.
Yes. Online trade commissions for securities trading on major U.S. markets will continue to be $0 at Schwab. This includes stocks and ETFs. Options trades have a $0 online base commission and a $0.65 per contract fee.
Contact account providers
Contact retirement and health savings account providers
Contact your retirement or health savings account provider to:
- Make transfers between your brokerage account and your core retirement or health savings account
- Ask questions about your retirement plan investment choices
- Inquire about loans or withdrawals
Message Center prior to transition
Prior to your transition, contact TD Ameritrade SDPS via the secure Message Center or call 866-766-4015 8 a.m. to 7 p.m. ET, Monday through Friday (excluding market holidays) to:
- Place trades in your account
- Get your brokerage account balance
- Change your address or other information
- Ask any additional questions about your brokerage account
After your account has moved to Schwab, contact our dedicated Personal Choice Investment Services (PCIS) participant services team at 888-393-7272 from 8 a.m. to 7:30 p.m. ET, Monday through Friday (excluding market holidays) or via email at PCISService@schwab.com.