You made it through the TD Ameritrade to Schwab transition, now what?

After three years, the TD Ameritrade and Charles Schwab merger is officially complete! Along the way there have been account number changes, new logins to create, lots of mail and emails received, and new processes to navigate.

With all the accounts now held at Schwab, there are still some questions fresh in everyone’s minds. Let’s highlight some of the new features on Schwab Alliance and share some FYI’s that could make your experience easier the next time you log in.

Let’s start with some great new features which are a nice change from what was offered at TD Ameritrade:

• Your Schwab Alliance login will combine all the Schwab accounts that you have. That includes Apella Wealth-managed accounts, retail, and retirement plans linked to your Social Security Number on their platform. (We still only have access to the accounts we manage for you.)
• E-Authorization and DocuSign are now built into the Schwab platform, allowing you an easier way to approve transactions and sign forms via their Schwab Alliance login. (No more personal history questions to answer!) You can view these notifications under your Message Center in the top right-hand side. You will also receive a notification email to the email address on file when such approvals are needed, or a notification on the Schwab App if you have it downloaded on your phone.
• You can choose to update your address, email, phone number, trusted contacts, shared view-only account access, and beneficiaries all on the Schwab Alliance portal. As always, we are happy to assist with all these updates, too.

Here are a few FYI’s that you may not have known about:

• If you have set up any direct deposits or recurring payments from third parties such as Social Security deposits, annuity payments, or payroll deposits to your TD Ameritrade account, you will need to provide them with your new Schwab routing and account number as soon as possible. If you need assistance with this process, please contact our office.
• You will receive statements from both TD Ameritrade and Schwab for the third quarter of 2023 and possibly the fourth quarter, too, if there were any residual transactions in your account(s) at TD Ameritrade.
• In February next year, tax forms for both TD Ameritrade and Schwab will be available on the Schwab Alliance portal or mailed to your address of record, depending on your selected preference.
• For paperless statements and trade confirmations, you must establish your Schwab Alliance credentials within 90 days of the conversion. If not, your accounts will revert to receiving paper statements via snail mail.
• Schwab’s mobile app is available for download if you want quick access to your accounts or want to approve account alerts on your mobile device.
• You can title and group your accounts for streamlined viewing when you log in. You will log into Schwab Alliance and go to Profile > Account Settings > Account Nicknames and Groups. This will allow you to personalize your view, which is helpful if you have multiple accounts.

We know that there has been a lot of change over the last few months. Always know that Apella Wealth is here to be your resource! If you need any help, have questions, or just need a quick refresher on where to find things, we are happy to help you and want you to always feel that you can reach out to us.

Apella Capital, LLC (“Apella”), DBA Apella Wealth is an investment advisory firm registered with the Securities and Exchange Commission. The firm only transacts business in states where it is properly registered or excluded or exempt from registration requirements. Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission.