TDA customers are supposed to be notified about 3 months prior to the transition.
Once notified, your transition date will appear when you login to TDA.
I haven't been notified, so this is just what I understand is supposed happen.
Speaking of what will happen, when I log into TDA, there is no readily apparent information about the transition.
In fact, I ended up just googling the topic and was lead to a Schwab page about it.
Here is a link to the Schwab FAQ about the transition:
welcome.schwab.com/faqs?cmp=ilc-TNFMy Mom has a large Taxable account with Schwab, so there will be no need to set up a new password.
I've informed a TDA Rep of the Schwab account, but so far have nothing in writing acknowledging this.
The most important thing I see is that TDA trading history will be lost.
Also, any TDA watchlists will be lost and I do have a couple of those.
I need to see if I can set up similar watch list at Scwab.
While I log into Schwab regularly, I don't like the site as much as TDA.
TDA has more research sources.
So far, I haven't read how Schwab will address this (or if they will).
Instead Schwab seems to be stressing costs and "great" service.
At TDA, my Mom has a mega Taxable account and a large Roth.
She also has large accounts with Fido.
I really don't like Fido or Schwab; not that Schwab is terrible.
What was nice was to have them for diversification purposes.
With the transition, my Mom's accounts will be split between Fido and Schwab. That's it.
Anyhow, here is a "To do" list for the transition (from the Schwab page):
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.
Open order details. Most open orders will move to Schwab. The order types that will NOT move are conditional orders, trailing stop orders, and direct routed orders. Save the details of these orders before your account moves so you can reestablish them at Schwab if desired. You will NOT be able to be reestablish One Triggers Two (OTT), One Triggers One Triggers Another (OT/OTA), and direct routed orders.
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.
