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Post by Majick on Jan 21, 2023 22:47:08 GMT
I thought Schwab bought TDA? They have, but TDA accounts have not migrated over yet. Believe that starts next month and will be over by the end of the year. I'm thinking of asking for moving my accounts sooner. TD has a lot of nice features, but they don't have good fill in the secondary T-Bill market. Fwiw, Moving TDA accounts sooner to Schwab... When I Inquired,TDA or Schwab both Reps said... Early transfer can result in Incomplete history, a/c statements & possible missing other Info like beneficiaries, automatic withdrawal , a/c link from TDA. Since Schwab has acquired TDA already...So this early a/c xfer or jumping the line, shall disqualify for ANY Schwab Promotions or $rewards. Plus TDA will charge a standard $75 fee per account for closing or transfer & Schwab will NOT Reimburse that TDA $75 fees! If you establish early Schwab User ID/with Password & use TDA a/c number to establish ID, based on your a/c value, it will inform you When the Actual automatic xfer will occur....Like 250 days later on October XX,2023...Now. Customers with a Lower total of all $value a/c's are transferred first... while all Higher NetWorth A/C's' shall be later or last... Please Post here... If you come across different findings. Thanks. Majick |
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Post by Fearchar on Jan 21, 2023 23:46:02 GMT
They have, but TDA accounts have not migrated over yet. Believe that starts next month and will be over by the end of the year. I'm thinking of asking for moving my accounts sooner. TD has a lot of nice features, but they don't have good fill in the secondary T-Bill market. Fwiw, Moving TDA accounts sooner to Schwab... When I Inquired,TDA or Schwab both Reps said... Early transfer can result in Incomplete history, a/c statements & possible missing other Info like beneficiaries, automatic withdrawal , a/c link from TDA. Since Schwab has acquired TDA already...So this early a/c xfer or jumping the line, shall disqualify for ANY Schwab Promotions or $rewards. Plus TDA will charge a standard $75 fee per account for closing or transfer & Schwab will NOT Reimburse that TDA $75 fees! If you establish early Schwab User ID/with Password & use TDA a/c number to establish ID, based on your a/c value, it will inform you When the Actual automatic xfer will occur....Like 250 days later on October XX,2023...Now. Customers with a Lower total of all $value a/c's are transferred first... while all Higher NetWorth A/C's' shall be later or last... Please Post here... If you come across different findings. Thanks. Majick Thank-you Majick, It's been a while since I spoke with either Rep as I (Mom) has accounts with both vendors. I'm a little surprised that larger accounts are going last. Perhaps they want to iron out all possible wrinkles first. There are pros & cons with the each of these sites. So, will probably just wait it out. Still have a sinking suspicion that I will end up with 2 separate Schwab accounts, but hoping not. |
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Post by anitya on Jan 22, 2023 8:32:59 GMT
Just an FYI -
First, employee accounts will be transferred (I think in March) before any customer accounts will be transferred.
Evidently, the order of transfer of all TDA accounts has already been determined and marked in the respective accounts. At this point, only your Rep (but not you) can see this information and may be willing to unofficially share with you the scheduled date of your account transfer. I know my date. I am told that each customer will receive advance notice with their date of transfer. My memory is fuzzy but it could be a three month notice.
For partial transfers, I know Schwab has charged me for transferring assets out but do not recall TDA ever charging me for doing the same. I do not think they charge for transfers between them. I have transferred from Schwab to TDA with no charge. You might be able to get a waiver of any transfer charges by working with your Rep.
I would download all TDA account information (e.g., trades) that is important to you. TDA/Schwab will transfer over to Schwab any information that is required to be made available (and for the time period) by law, even though current TDA accounts may show 20+ years of information. E.g., I am told that messages will not be transferred over to Schwab.
I have not asked if the TDA account access will be available for sometime after the accounts are rolled over to Schwab.
I will happily wait for them to rollover my TDA accounts and not try a pre-emptive transfer to Schwab.
Good luck to all.
(Admin〵chang ,
If Fearchar and Majick are OK, could you please move their last two posts (and this post) in this thread to a new thread titled, "TDA Account automatic Transfer to Schwab." We are likely to have a lot of interest and issues on this topic, notwithstanding the good faith effort by both TDA and Schwab.)
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Post by Fearchar on Aug 18, 2023 12:43:00 GMT
My Mom's scheduled date is the 1st weekend in Sept.
So, Schwab rep called me yesterday to see if all was well.
Of course I had to explain that I'm managing her accounts.
He explained that what ever power of attorney we have at TDA will
not carry over to Schwab.
So, will have to file a new one.
But I have to get it notarized after the transfer.
Doing it now would be nice, since we don't have one on file with Schwab.
But will have to do it again.
They (Schwab) have separate forms for both Schwab and Non-Schwab Affidavit for Durable Power of Attorney.
Fortunately, one of my daughters is a notary, but I didn't ask him if that we okay or not.
Also, for some crazy reason, it was not a rep at the nearest branch, but one from the a little further away. I didn't ask about that, but it sounds like they are busy with all of this.
He also explained that they use the SS# when aligning accounts.
So, we should be good there.
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Post by Fearchar on Aug 18, 2023 12:47:43 GMT
Also, FYI.
Will be combining taxable account at TDA with Schwab taxable.
So, I am concerned about the tax basis getting over to Schwab.
TDA also has a Roth.
Currently no Roth at Schwab.
Thinking that should not be as much a concern.
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Post by Fearchar on Aug 24, 2023 0:34:16 GMT
9 days to go.
Obtained notary seal on Agreement and Affidavit for Non-Schwab Durable POA.
Uploaded using the Schwab secure message center.
Standard 1-3 days for processing.
Observed that both TD Ameritrade accounts are identified within the message center.
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mrc
Lieutenant
Posts: 104
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Post by mrc on Sept 7, 2023 0:34:14 GMT
My account is transferred over the long weekend. No issues found so far.
For those familiar with Schwab brokerage user interface, in charts, it is adding default SMA (20) for Simple Moving Average.
When I checked this morning, I could not find a simple way to to add 50 and 200 SMA. It used to be very simple in TDA.
Does anyone know?
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Post by richardsok on Sept 7, 2023 5:26:28 GMT
My account is transferred over the long weekend. No issues found so far. For those familiar with Schwab brokerage user interface, in charts, it is adding default SMA (20) for Simple Moving Average. When I checked this morning, I could not find a simple way to to add 50 and 200 SMA. It used to be very simple in TDA. Does anyone know? I agree with you. I always liked TDA charts better than Schwab charts. The ONE advantage Schwab charts had over TDA is that when you are comparing the lines of different stocks or ETFs on one chart, TDA only allows you to make 3 or 4 overlay comparisons per chart, but Schwab has allowed me to compare ten or more overlay line comparisons on a single chart. Another thing I like about Schwab is the way they handle CEFs. For each, they offer a simple graphic how much (by percentage) recent dividends have been paid from earnings, cap gains or ROC. But I NEVER use Schwab for technical charting. Its GUI never felt comfortable. Stockcharts.com or Yahoo! (on the MicroEdge platform, not Firefox or Google) will let you tinker with your MAs all you want. Stock charts will let you use the Heiken-Ashi candlesas well as the Heikin-Ashi SMOOTHED signals for fewer trades, but only thinkorswim.com offers PPS on their charting platform. Very sophisticated stuff which I find useful. A bit of a learning curve, but well worth it. Hope this helps. |
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Post by anitya on Sept 7, 2023 5:29:19 GMT
Is not Think or Swim not available to legacy TD customers at Schwab?
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Post by richardsok on Sept 7, 2023 13:16:31 GMT
I certainly hope so. I have accounts both w/Schwab and with TDA. Wife's account is in TDA also. As of yesterday, I've seen no change in set-ups. If there's any snafu I can work with stockcharts and with barcharts for the Heiken-Ashi Smoothed for longer term trends. Anyway that's the plan if matters get sticky.
As of this morning, I see no changes anywhere.
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Post by racqueteer on Sept 7, 2023 13:39:43 GMT
Is not Think or Swim not available to legacy TD customers at Schwab? I'm going with an increasingly flawed memory here, but it seems to me that the TOS login eventually defaulted to the Schwab version. I know I didn't retain it, and I suspect I would have if it had been active. I think they leave it active until you make the transition successfully.
Remember to verify that the fee schedule ($15 trades) from TOS was successfully grandfathered in. Not waived as Wellstrade once was (for 100 trades), but a LOT less than $50 (or more)!
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Post by anitya on Sept 7, 2023 19:15:31 GMT
That is a good reminder not to transfer assets between accounts once at Schwab without first confirming with Schwab how the legacy TD fees schedule is effected by ones' actions.
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Post by Fearchar on Sept 9, 2023 16:26:31 GMT
All TDA accounts have transitioned over to Schwab.
Schwab finally got around to reading the POA that I had uploaded.
They messaged me that they wanted to see the death certificate for my dad.
I had almost forgot that the 2018 POA that may parents signed was conditional on my Dad's passing.
So, uploaded that and the specialist messaged me back that all was fine.
However, Schwab has 3 levels of access:
- View Only Access
- Limited Trading Authority
- Full Trading Authority
I'm listed on all accounts with a Durable Power of Attorney.
However, the Full Trading Authority is listed as Pending and for only 1 of the accounts.
So, it's not clear if I can with draw funds or not.
I might be able to, but only because I'm logging in as my Mom.
In obtaining the Durable Power of Attorney, they required me to set up my own Schwab account.
Maybe they are thinking I'll log in as myself?
I can see how that could make sense and be more above board in their view.
I had my Mom signed their Trading and Withdrawal Authorization forms and will be uploading them.
Strangely, Notarization was not required.
However, my oldest sister is aware of what I've been doing (for 4 years now).
She was their when my Mom signed the new forms.
Anyhow, more to follow!
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Post by yogibearbull on Sept 9, 2023 17:09:00 GMT
Fearchar, I am sure that limitations will be for your own login. If you are using mom's login, then as far as the system is concerned, it is her logging in. Be aware that many firms may not want to even hear about this, or may politely suggest to use more formal methods of POA and separate logins, or may even lock the a/c.
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Post by anitya on Sept 9, 2023 17:58:33 GMT
Fearchar , I do not have a good comprehension of the problems you are having. Just sharing what I did in case it is helpful to you. Both my parents and I have Schwab accounts of our own. I no longer want to log into their accounts using their log in (if there were ever a problem that needs to be addressed when they are out of the country (a lot), it will be a pain). So, my parents (with my help) logged into their account and assigned full trading and withdrawing authority to me. It was all online no real paper involved. It took us less than 30 minutes and their accounts now show up when I log into my account(s). I can add or remove bank accounts linked to their accounts and do the things I can do in my own account(s) and I can call Schwab and discuss about their accounts.
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Post by Fearchar on Sept 9, 2023 18:04:55 GMT
Good point yogibearbull, So far, Schwab has been much easier to deal with than Fidelity. Fidelity insisted on a Medallion signature for their durable POA. To get that, I had to drag my mom down to a local bank. That was 4 years ago. Since then Mom has gone downhill and is now much more bedridden. Schwab though just wanted my signature notarized on their form. Hopefully, I've completed all the necessary Schwab paperwork. |
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Post by Fearchar on Sept 9, 2023 18:11:44 GMT
Fearchar , I do not have a good comprehension of the problems you are having. Just sharing what I did in case it is helpful to you. Both my parents and I have Schwab accounts of our own. I no longer want to log into their accounts using their log in (if there were ever a problem that needs to be addressed when they are out of the country (a lot), it will be a pain). So, my parents (with my help) logged into their account and assigned full trading and withdrawing authority to me. It was all online no real paper involved. It took us less than 30 minutes and their accounts now show up when I log into my account(s). I can add or remove bank accounts linked to their accounts and do the things I can do in my own account(s) and I can call Schwab and discuss about their accounts. Thank-you anitya, I maybe heading towards a similar setup. Possibly because Schwab was aware that I have been logging into my Mom's accounts, they have extra paperwork for me. All in all, I'm not really complaining about Schwab. |
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Post by habsui on Sept 9, 2023 22:28:01 GMT
Our smaller trust account was moved to Schwab. No problems.
Cheers..
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Post by racqueteer on Sept 10, 2023 4:08:35 GMT
Anitya summed it up nicely. Any account on which you have full rights will show up when you log into your own account. Full account access is established within the owner account and requires no paperwork from anyone. For example, I set up gift accounts for my daughter and son-in-law, gave the accounts nicknames, gave myself full access, and gifted/funded them. Now, when logging into my own account, I can see those nicknamed accounts as well. Easy and convenient.
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Post by Majick on Sept 10, 2023 21:17:52 GMT
Fyi,
It Seems ThinkOrSwim platform shall be available at Schwab.com
Access a thinkorswim trading platform.
Schwab has a range of thinkorswim trading platforms to help you analyze, strategize, and trade the way you like:
thinkorswim desktop
thinkorswim web
thinkorswim mobile*
If you haven’t done so already,
log in here to download or access a thinkorswim platform.
Learn how to get the most out of thinkorswim.
Go to schwab.com/thinkorswimlearningcenter to access a variety of helpful thinkorswim tutorials.
Majick
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