A little over six years ago, I chose TD Ameritrade as my broker after considerable research into TD, Charles Schwab, and Fidelity. So when Charles Schwab announced their purchase of TD three years ago, I started preparing. Finally, the merger is upon us! And on this episode, I’m helping TD Ameritrade clients everywhere get ready for the move.

You will want to hear this episode if you are interested in...

• Understanding the merger timeline [1:38]
• What you need to do before the merger occurs [3:27]

Welcome to Schwab

TD Ameritrade clients have a quickly approaching decision to make: Stay where they’re at and become Schwab, or find another broker. Personally, I’m recommending my clients stick with Schwab. I’ve been using and testing their platform for the last year, and there really isn’t much difference between them and the soon-to-be-defunct TD Ameritrade. If you want to continue doing business with Schwab, there’s nothing you have to do to make the change. This is what’s known as a negative consent transaction. Unless you decide not to go through with the transfer, all of your assets and brokerage accounts currently held with TD Ameritrade Institutional will automatically move over to Schwab.

That being said, there are a few dates those going through the merger should be aware of. On Friday, September 1st at 8:30pm Eastern, access to TD’s Advisor Client will cease, and all accounts on TD Ameritrade will be transitioned to Schwab's platform over the next few days. By Tuesday, September 5th you will be able to access the Schwab Alliance Client Portal and manage your accounts directly through Schwab. The only thing you need to do as a newly minted Schwab client is create a profile through their client portal. Listen to this episode for more on the merger!

Resources Mentioned

• TD Advisor Client
• Schwab Alliance Client Portal 

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