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TDA to Schwab Transfers

Happy to report that our former TDA accounts transferred over the weekend to Schwab, just as announced. I haven’t dug into minutia such as cost basis yet, so there may be more to check on. At first glance, all looks good. My wife’s Roth is now linked to our joint brokerage account and her rollover IRA is also there.

Comments

  • So did my accounts. Placed my first trade in my retirement account today.
  • Other than some odds and ends specific to my accounts, all seems to have gone smoothly for me as well.
  • Was this transfer for all TD accounts, mine seem unchanged as of now?
  • Make sure you're looking at the summary and not the existing account (which didn't change). The new accounts should show up there, I believe. I couldn't find the originally either

    Btw, for those involved, if you had the $15 trading fees originally from ThinkOrSwim, I was assured that they would carry over onto the Schwab platform. I can't verify that just yet, but something to watch for/
  • @wxman123: I believe the transfers are taking place periodically, with Memorial Day weekend being the first batch of accounts.
  • wxman123 said:

    Was this transfer for all TD accounts, mine seem unchanged as of now?

    . FWIW, I think everyone's accounts are not transferred yet. You can create your new User name and password on Schwab.com, and it will tell you when all your accounts are scheduled date-wise... based on combined assets $ value-Per Schwab rep. Majick

  • majick said:

    wxman123 said:

    Was this transfer for all TD accounts, mine seem unchanged as of now?

    . FWIW, I think everyone's accounts are not transferred yet. You can create your new User name and password on Schwab.com, and it will tell you when all your accounts are scheduled date-wise... based on combined assets $ value-Per Schwab rep. Majick

    My TD/Schwab guy says my account (just holding $1000 in it so I can use ThinkDesktop) wil transfer later this year ... so they're not done yet.
  • edited June 2023
    FWIW, Schwab has indicated to me that they will honor the $15 trading fee originating from ThinkorSwim (then to TDA); if anyone else falls into that category. I'm not sure yet if that will be automatic, or you'll have to ask for it.
  • FWIW, Schwab has indicated to me that they will honor the $15 trading fee originating from ThinkorSwim (then to TDA); if anyone else falls into that category. I'm not sure yet if that will be automatic, or you'll have to ask for it.

    Could explain the trading fee in more detail?

  • Whenever a trading fee ($49.95?) would be applied, it would become $15 instead.
  • Are you referring to TF mutual funds trading fees? See (from 2011):
    https://www.onlinebrokerrev.com/2011/02/broker-mutual-fund-fees.html

    Often when an old fee schedule is grandfathered, the entire fee schedule is preserved. When TDA grandfathered thinkorswim customers, did it preserve all the TOS fees? That would have included three free TF trades per month. OTOH, that would also have meant charging fees for selling as well as for buying TF funds.

    Likewise, is Schwab keeping your whole fee schedule, or just the $15 TF charge? (There may not be any other difference in the schedule, so this question may be moot.)
  • Only the transaction fee affects me, so I have no experience with any other aspect of the arrangement. Everything seemed to operate exactly the same, but with lower fees.
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