As Schwab and TD Ameritrade draw closer to the transition of services between the two firms, the following is a preview of communications you will receive (or have already received):

Key Information Packet

A Key Information Packet for each account at TD Ameritrade will be sent to you on or about August 1, 2023, via the United States Postal Service (regardless of your stated communication preference). This Packet is the official notification of your new eight-digit Schwab account number. In addition to the account number, the Packet will provide important details about the transition, key milestones, and how to avoid disruptions in accessing your account after conversion.

The Packet will also provide instructions on creating a Schwab Alliance login ID and password. Once the conversion is complete, the Schwab Alliance portal will allow you to access all your account information online.

Account Verification

On or about September 5, 2023, expect an email or letter (depending upon your communication preference) requesting you review your account(s) and confirm that all information is correct. The communication will also provide details on where to find the Schwab Account Agreement and other disclosure documents. If you have not already set up your Schwab Alliance credentials, a gentle reminder to do so will be included.

We want to reiterate that at EKS, we have had a strong relationship with Schwab for more than 20 years and are looking forward to expanding that relationship. We are very accustomed to how Schwab operates from its trading platform. We have the utmost confidence in their customer service and commitment to supporting EKS and safeguarding your assets.

While we anticipate a smooth transition, there may be some small bumps along the way. Rest assured that during the transition process, we will have access to your Schwab accounts and can assist with any questions or concerns you may have.

In May, we published TD Ameritrade-Charles Schwab Merger Update #1. This article served as a reminder about the merger, which was first announced in 2020, reviewed how the merger will impact investors, shared actions you should take, and provided a timeline of events.

Last week, we shared a statement from TD Ameritrade regarding the data breach involving the tool MOVEit Transfer. They believe less than 0.5% of clients may have been affected and will communicate directly with those individuals where needed. You can read more about the data breach here.

As always, we are here if you need us. Do not hesitate to contact your EKS Associates wealth advisor with questions or concerns.