Earlier this month your investment accounts managed by JNBA were moved to Schwab. JNBA’s role as your financial advisor has not changed with Schwab being the new custodian.
Below are important reminders summarizing what to expect with your accounts now custodied at Schwab.
ONLINE ACCOUNT ACCESS
- Setting up Schwab Alliance credentials for the first time
- If you have not already done so, you can establish online access by going to SchwabAlliance.com and select New user and follow the prompts to create your login credentials.
- You will need to provide your Schwab or TD Ameritrade account number (if you have multiple accounts you only need to enter one of the account numbers), date of birth, Social Security number and the phone number that you had on file at TD Ameritrade.
- Click here for an enrollment guide with additional detail on the enrollment process.
- If you have any difficulty creating your credentials, please reach out to your JNBA Advisory Team and we would be happy to assist.
- Giving a family member or trusted third-party view only access to your Schwab accounts
- Clients who had “view-only” online access to see a family member or another individual’s account(s) at TD Ameritrade will need to re-establish “view only” access at Schwab.
- Please reach out to your JNBA Advisory Team and we can help you re-establish “view-only” access.
- 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.
CHECKS
- Checks made out to TD Ameritrade can be accepted for deposit for approximately 90 days after the conversion (or until around December 1).
- For those that have the checkwriting feature on their account, outstanding checks written from your TD Ameritrade account will continue to be processed for approximately 90 days after the conversion (or until around December 1).
- Any checks for deposit into your JNBA managed account can now be issued payable to “Charles Schwab.”
WHAT TO EXPECT NEXT
Friday, September 1:
- Account Verification Letters were sent on a per account basis based on your communication preferences (mail or email). The purpose of these letters is to confirm all information on your new Schwab accounts is correct. If you see any information that needs to be updated, please reach out to your JNBA Advisory Team for assistance.
- For the month of September, you will receive two custodian account statements – one from TD Ameritrade (typically showing a $0 balance and zero positions) and another from Schwab.
Please do not hesitate to contact your JNBA Advisory Team if you have any questions or if we can be of assistance.
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
