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TD Ameritrade /
Charles Schwab
Merger

Following the TD Ameritrade and Charles Schwab merger announced back in 2021, they have now officially set a transition date scheduled to take place during Labor Day weekend 2023. As of right now, Schwab is communicating that no repapering will be needed for your accounts during this transition. However, your account number WILL CHANGE from a nine-digit account number to an-eight digit account number.

We have created this informational hub to keep you informed about all facets of the conversion of your accounts from the TD Ameritrade platform to Charles Schwab. As always, feel free to reach out to us at 717-736-7007 if you have any additional concerns.

Timeline of the migration

TimelineFirm dates to be provided when solidified by Charles Schwab.

December 2022:

  • A Client Information Hub will be made available inside of your advisorclient.com login.
  • If you do not have an advisorclient.com login to view your TD Ameritrade accounts, please reach out to your advisor so we can establish that access prior to the 2023 transition.

Early June 2023:

  • You will see a 90-day “countdown clock till transition” added to the top banner of your advisorclient.com login

Early to Mid July 2023:

  • Roughly 60 days from transition, you will receive an “account transition notice” in the mail from Charles Schwab, which is a negative consent form for your accounts to transition from TD Ameritrade to Charles Schwab. There is no action required with this form.
  • You will also receive additional regulatory and Charles Schwab-related disclosures in the mail that also do not require any action on your part.

Late July 2023: 

  • There will be a banner at the top of your advisorclient.com login to keep your existing or create new credentials for the Schwab Alliance Portal.
  • This portal replaces your access to TD Ameritrade’s advisorclient.com to view your accounts after the transition. Furthermore, it is where you can receive documents, make changes to your information, and view account history.

Advisor Client login to Charles SchwabConfirmation of LoginEarly August 2023:

  • You will be receiving a “Key Information Letter” from Charles Schwab detailing your new account numbers, Schwab’s routing numbers and other pertinent information related to your transition to Charles Schwab.
  • If you utilize check writing or debit cards with TD Ameritrade, you will also be receiving a new debit card and checkbook from Charles Schwab. You should keep utilizing your TD Ameritrade checks and/or debit card until transition, but keep in mind that TD Ameritrade checks will only be accepted for 30 days after conversion if outstanding at the time of transition.

Labor Day Weekend 2023: 

  • You will lose advisorclient.com access through the weekend as Charles Schwab transitions your accounts from TD Ameritrade platform to the Charles Schwab platform.

September 5, 2023: 

  • This will be the first day you can view your accounts inside of the Schwab Alliance Portal. You have officially been transitioned from TD Ameritrade over to Charles Schwab.
  • Here is a list of all of the data transferring over from TD Ameritrade that is viewable inside of the Schwab Alliance Portal:
    1. 4 years of account history
    2. 10 years of statements & 1099s
    3. 7 years of tax documents
    4. 2 years of trade confirmations

January 2024:

  • You will receive two year-end statements, one from TD Ameritrade and one from Charles Schwab, for your accounts.
  • If you normally receive 1099s for your accounts, you will also receive two separate 1099s depending on the timing of the activity causing the 1099.

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