Over Labor Day weekend, your investment accounts managed by JNBA that are currently held at TD Ameritrade will move to Schwab as a result of the two custodians merging. JNBA’s role as your financial advisor is not changing. With the merger, your accounts will be held at a new custodian – Schwab.
With the transition only a little over a week away, below are important reminders summarizing what to expect as we help prepare for your accounts to transition to Schwab.
YOUR NEW SCHWAB ACCOUNT NUMBERS
Earlier this month you should have received a “Key Information Packet” from Schwab for each account you have at TD Ameritrade that contained your new Schwab account number(s) and other important details about the transition. The packet was sent via the U.S. Postal Service. No action is required on your part.
ONLINE ACCOUNT ACCESS
- To establish online access at Schwab Alliance you can log into AdvisorClient.com using your existing credentials and follow the prompts to create your login credentials on Schwab Alliance. You also can go directly to SchwabAlliance.com to create your credentials and select New Schwab user and then follow the prompts. Doing so prior to the conversion date will allow you to see your account information on the Schwab platform as soon as your account(s) transfer on September 5.
- When you establish Schwab Alliance online credentials prior to September 5, you will see a snapshot of your accounts and some information that will be available once the move to Schwab is complete.
- This view is a snapshot and does not necessarily reflect current information about your accounts as your accounts will not move to Schwab until Labor Day weekend.
- Clients who currently have “view-only” online access to see a family member or another individual’s account(s) on TD Ameritrade’s AdvisorClient.com will need to reestablish “view-only” access once their accounts transition to Schwab. Your JNBA Advisory Team can help you reestablish this feature.
- Please know that you are not required to set up online access on Schwab Alliance and, if preferred, business can be done via paper and U.S. Mail. Also, you can continue to access your account information through the JNBA Client Portal.
TIMELINE AND WHAT TO EXPECT
Friday, September 1:
- Beginning at 7:30 pm CST/8:30 pm EST you will no longer have access to your accounts on TD Ameritrade’s AdvisorClient.com.
Tuesday, September 5:
- Your accounts will be live at Schwab. You can access your accounts and see current account information on SchwabAlliance.com.
- Schwab will send an Account Verification notice for each account moved to Schwab outlining account information for your review. Notices will be sent based on your current communication preference of email or mail. No action is required if all information is correct.
If you have any questions about your accounts moving to Schwab, please do not hesitate to reach out to your JNBA Advisory Team.
These materials have been independently produced by JNBA Financial Advisors (“JNBA”), JNBA is independent of, and has no affiliation with, Charles Schwab & Co., Inc. or any of it affiliates (“Schwab”). Schwab is a registered broker-dealer and member SIPC, Schwab has not created, supplied, licensed, endorsed, or otherwise sanctioned these materials nor has Schwab independently verified any of the information in them. JNBA provides you with investment advice, while Schwab maintains custody of your assets in a brokerage account and will effect transactions for your account on our instruction.
Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from JNBA Financial Advisors.
Please see important disclosure information at jnba.com/disclosure