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Schwab Transition Information Center

Welcome to Advance Capital Management’s client information center – designed to help answer your questions and keep you up to date about the transition to Charles Schwab & Co., Inc. (“Schwab”) as your custodian. 

The most important thing to note is that your relationship with your Advance Capital adviser will not change as part of the integration!

For any questions, contact your adviser or our team at Advance Capital at (800) 345-4783.

The Role of a Custodian

Watch the first few minutes of this podcast as advisers Ryan Sheffer and James Walsh discuss the role of a custodian and what clients can expect during this transition.

GR8 Financial Sense Podcast - Episode 35

GR8 Financial Sense Podcast

FAQs

If I have questions about the transition or my accounts, who can I contact?

How will I receive my 2023 tax documents?

Will my account history, documents and statements be available at Schwab?

Will I get a new account number?

Do I need to update my direct deposits and auto payments?

When can I set up my new credentials at Schwab?

Do I need to update or re-authorize the actions I've approved my adviser to make on my behalf?


Important General Information

  • Schwab and TD Ameritrade remain on track to complete their integration, with an anticipated transition date of September 5, 2023
  • Your relationship with your Advance Capital adviser will not change as part of the integration
  • Schwab will automatically transfer your assets and holdings – there is nothing you need to do until the transfer completes
  • If you or your adviser initiated or set up a direct deposit or auto pay on TD Ameritrade’s platform, those instructions will transfer to the Schwab platform.  This includes ACH transfers.  If you set up automated payments on a third-party platform, you will need to update the instructions on the platform where you set up the payment with your new Schwab account number immediately after the merger.

Beginning on September 5, you will have online access to your accounts in Schwab Alliance

  • You will receive two statements following the transition: one for your TD Ameritrade Institutional account (typically showing a zero-dollar balance and no positions) and one for your new Schwab account.

What to Know About Online Access

  • If you have a login for TD’s AdvisorClient website portal (advisorclient.com), you will receive a notification in AdvisorClient telling you to create your credentials for Schwab Alliance on July 31.
  • You will continue to view your accounts in AdvisorClient through Friday September 1.
  • Your accounts will be available in Schwab Alliance beginning September 5.
  • Similar to AdvisorClient, Schwab Alliance offers access to your account balances, positions, and history, as well as secure access to statements and tax documents.

Merger Timeline

June

In June you will receive an Account Notification letter, letting you know your account will transfer to Schwab over Labor Day weekend. There is no action required from you for your account to transition.

August

Schwab will mail a Key Information Packet in mid-August. This packet will contain your new Schwab account number(s) and instructions on creating Schwab Alliance website portal credentials (schwaballiance.com), if you have not done so already.

September 1

Last day at TD Ameritrade. Access to your TD Ameritrade account will no longer be available starting at 8:30 p.m. ET. During this time, you will not be able to see your account. On September 5, you can log in to Schwab Alliance to access your account.

September 5

Merger complete!

These materials have been independently produced by Advance Capital Management. Advance Capital Management is independent of, and has no affiliation with, Charles Schwab & Co., Inc. or any of its 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. Advance Capital Management 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.”