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Slow integration of TD Ameritrade accounts into Schwab
According to the Oct 21, 2021 issue of "Investment News," Schwab hopes to move the individual T.D. Ameritrade accounts into Schwab by "the second half of 2023." That's still around two years away!
I was concerned about possible integration issues, so a year ago we took advantage of Schwab waiving account closing fees at TDA and made the move before it was done in mass.
I was concerned about possible integration issues, so a year ago we took advantage of Schwab waiving account closing fees at TDA and made the move before it was done in mass.
Same here. I've been through brokerage mergers before and wanted to avoid the inevitable chaos/headaches, so I fled TDA in August 2020 for Schwab and kept just a toehold in the account so I can access statements, charting, and live data. I really miss thinkDesktop and can't wait for it to become part of Schwab, though.
The week-long technical problems at TDA at that time which locked many users out of their accounts (and their exec's silence in the face of widespread public complaints) also made it easy to GTFO of there ASAP, too. They handled that situation HORRIBLY.
My TDA accounts are grandfathered for a commission rate of just $15 to purchase non-NTF mutual funds such as Dodge and Cox or Vanguard. I'm waiting to see if Schwab honors that rate. (I suspect that I would lose that benefit if I transferred my TDA accounts to Schwab before the integration.)
My TDA accounts are grandfathered for a commission rate of just $15 to purchase non-NTF mutual funds such as Dodge and Cox or Vanguard. I'm waiting to see if Schwab honors that rate. (I suspect that I would lose that benefit if I transferred my TDA accounts to Schwab before the integration.)
May be call Schwab and ask the question. If they agree to honor, then transfer now to lock in; otherwise, enjoy the benefit for another 2 years. They may honor now not to lose you to a competitor who may offer large incentives to get your accounts.
Comments
The week-long technical problems at TDA at that time which locked many users out of their accounts (and their exec's silence in the face of widespread public complaints) also made it easy to GTFO of there ASAP, too. They handled that situation HORRIBLY.