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TD Ameritrade to Schwab

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AUTHOR: Nick Politakis on 6/22/2024

I hate change.  When Schwab acquired TD Ameritrade where I had my brokerage account, I knew at some point I would have to use the Schwab platform.  Well it happened a month and a half ago.  I am not thrilled by Schwab but it’s not as bad as I feared.  Anyone go through this?

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mjflack
4 months ago

Schwab’s ok, but they can’t seem to correctly compute my monthly estimated income. Many of my stocks such as MAR (which pays a dividend) have an estimated monthly income listed as $0. Also mutual funds and short term CDs have their estimated monthly income listed as $0. I contacted my Financial Consultant  and the CEO. Not only don’t they care, they don’t seem to understand the issue.

achnk53
4 months ago
Reply to  mjflack

That was the last straw when I didn’t get an answer as to why that wasn’t transfer over from TDA; so I consolidated my Schwab, TDA, M1, etc into Fidelity instead. Fidelity also reimbursed all my transfer fees.

Andrew Forsythe
4 months ago

We’re long time Schwab clients but my wife and I have HSA accounts at Lively, where the linked brokerage accounts were at TD Ameritrade. When the TDA accounts transferred to Schwab it was smooth and easy since we already had accounts there.

I’ve always liked Schwab for its superior customer service. You can call day or night and very quickly be speaking to a human who almost invariably is friendly, competent, and will actually help you.

Margaret Fallon
4 months ago

People are suing Bank of America for the ultra low rates they are giving on money market funds etc.

Last edited 1 month ago by Margaret Fallon
OldITGuy
4 months ago

I did. I wasn’t happy when I heard it but it actually went very well.

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