CLIENT COMMUNICATIONS PREVIEW

What we're communicating to your clients and why.

As Schwab and TD Ameritrade move forward together, we occasionally need to communicate directly with your clients about things like regulatory notices and account agreements. We'll make sure you get plenty of advance notice, and you'll be able to preview the communications here.

Communications calendar

Preview 2023 transition communications by month here. Or skip ahead for details about each specific communication. Note: This calendar does not include account-specific or shared client communications.

  • May

    Positive consent begins May 19. When opening any new account at TDAI from May 19 through August 18, your clients will need to sign a Consent to Transfer letter ("Positive Consent Form") that must be submitted along with the rest of their new account paperwork. If the signed Consent to Transfer letter is not included, the account will be considered "not in good order" and we will be unable to open the account until we receive the Positive Consent Form. If there are more than two signatures required, you will need to submit forms.

  • June

  • July

    There are currently no planned transition-related communications to all advisors' clients in July.

  • August

    • The Key Information Packet will be sent by mail to all advisors' clients on or about August 1.
  • September

    • An Account Verification letter or email will be sent to all advisors' clients on September 5. Sample AV letter >
    • Any TD Ameritrade Institutional (TDAI) advisor client who opened a new account after the initial list pull for the Key Information Packet will be sent their Key Information packet via USPS in early to mid September.
    • In addition, any TDAI client who made an account registration change that triggered a new account number between late June and August 18 (the last date that new accounts could be opened at TDAI) will receive a letter with a new Schwab account number. This account number will replace the new Schwab account number they received with their Key Information packet. These letters will be sent in early to mid September.
  • October

    There are currently no planned transition-related communications to all advisors' clients in October.


Communications to all clients

communications to all clients

Title: Transition Announcement 
What: Email announcing the closing of the Charles Schwab's acquisition of TD Ameritrade and the planned timing of the transition.
When: 10/6/2020
Who: All TD Ameritrade Institutional clients
Call to action: No action required
 

Title: Account transition notice ("Negative Consent")
What: Notification required by regulators to let clients know about the transition, deliver applicable disclosures and cash feature information, and provide opt-out details. Sent at the account level based on client's contact preference (email or mail).
When: About 60 days prior to the transition (June 28)
Action requested: View agreements and other disclosure information.

Brokerage Sample
Retirement Sample

 

Title: Account verification
What: Communication from Schwab confirming that client's account has been moved from TDAI to Schwab.
When: Client day one (September 5)
Action requested: Review and confirm account information.

AV Letter Sample

Will be updated if communications are scheduled.

What: N/A
When: N/A
Who:  N/A
Call to action: N/A

Title: Key Information Packet
What: A letter and insert will be sent at the account level to all Advisors' clients. It will be sent via the U.S. Postal Service (regardless of the client's communications preference) because it will be the official notification of their new eight-digit Schwab account number. In addition to the account number, the Packet will provide important details about the transition, including when things are happening and what they can do to avoid disruptions in accessing their account after the transition.

  • Reminder: Any TD Ameritrade Institutional (TDAI) advisor client who opened a new account after the initial list pull for the Key Information Packet will be sent their Key Information packet via the USPS in early to mid September.
  • Reminder: If a TDAI client changes the tax ID number or makes certain changes to the account registration, it may trigger the issuance of a new account number. If that occurs, they will receive a letter with a new eight-digit Schwab account number to replace the account number they received in their Key Information Packet. These letters will be sent via the USPS in early to mid September. Account Change Letter >


When: August 1, 2023
Action requested: 

  • There is nothing your clients need to do to have their account(s) and assets transferred to Schwab.
  • If they have not already done so, they should create a Schwab Alliance login ID and password, which they will need to access their account information after conversion.

Key Information Letter
Key Information Insert 
Account Change Letter

Account-specific communications

account specific communications

Will be updated if communications are scheduled.

What: N/A
When: N/A
Who:  N/A
Call to action: N/A

Will be updated if communications are scheduled.

What: N/A
When: N/A
Who:  N/A
Call to action: N/A

Will be updated if communications are scheduled.

What: N/A
When: N/A
Who:  N/A
Call to action: N/A

Title:  AC.com paperless campaign
What: Email encouraging clients to create AdvisorClient.com credentials, reinstate their paperless preferences and get information on the transition and Schwab Alliance.
When: May, June and July
Who:  Clients who are receiving paper statements because they have not created a user ID and password and then logged in to AdvisorClient.com.
Call to action: To reinstate paperless delivery preferences and get more information about the transition to Schwab Alliance, visit AdvisorClient.com, establish credentials and enroll in paperless.

Sample to come

Title:  Non-supported payment frequencies
What:  Letter informing clients that certain payment frequencies will no longer be available at Schwab after the transition.  
When: January 2023
Who:  Clients with a payment that is currently set up with a frequency that is not supported by Schwab.
Call to action:  If there are no standing instructions on file, the client will need to update the appropriate cashiering form and select an alternate frequency. (If there are standing instructions on file, advisors can update the payment frequency on behalf of their clients.) The form can be faxed or sent by mail.

Sample

Title:  Action required: Recurring wires will no longer be supported
What:  Letter informing clients that we will no longer support recurring wires and will only offer recurring ACH transfers after the transition to Schwab.
When:  February 2023
Who:  Clients with recurring wires that will not be supported by Schwab.

Call to action:  If there are no standing instructions on file, the client will need to update the existing recurring wire to a recurring ACH. (If there are standing instructions on file, advisors can update the payment type on behalf of their clients. The form can be faxed or sent by mail.

Sample

Title:  Action required for Dividend & Interest (D&I) payments
What:  Letter informing clients that Schwab only allows D&I payments to be made by check, ACH and journal, on the last business day of the month. As a result, clients will need to select a supported payment type and frequency. At transition, the frequency will convert to the last business day of the month and will be paid on the first business day of the month. If client or their advisor doesn't select a supported payment type and establish the payment to be sent on the first business day, the instruction will not move to Schwab at transition.
When:  February 2023
Who:  Clients with D&I payments currently set up with a frequency that is not supported by Schwab.

Call to action:  If there are standing instructions on file, advisor can update the payment type to a supported option. If there are no standing instructions on file, clients will need to call 800-431-3500 to make the update.

Sample

Shared client communications

Schwab's two business units, Investor Services (Retail) and Advisor Services (Schwab Institutional), operate independently from each other. When an Advisor enters into an agreement with Schwab, part of that agreement includes the Contact Policy for Clients of Financial Advisors.

The contact policy clearly states that Schwab Investor Services will not solicit the Advisor's clients nor will Schwab sell against the Advisor's services. However, if the client is shared (has at least one Schwab Advisor Services accounts and one Retail account), some retail-focused interactions are acceptable.

If you have clients with retail accounts at TD Ameritrade or Schwab, they will continue to get communications about those accounts. For the transition, we'll be adding a note to every retail communication clarifying that it only applies to their retail account(s). 

You and your clients are welcome to contact your sales or service team with questions.
 

Top FAQs

Schwab will reach out to your clients as we get closer to the transition weekend. About 60 days prior to the transition, your clients will receive a required regulatory notice for every account they hold. This communication delivers account agreements and disclosures that are applicable to the account as well as details about timing and the account's cash feature. About 30 days before the transition, we will send out a key information packet for each account they hold to provide their new account number and outline what they should expect and what they can do to ensure a smooth transition. On the day the transition is complete, they'll receive an account verification notice confirming that their account has transitioned and welcoming them to Schwab.

We created a website designed specifically for clients of advisors (welcome.schwab.com/alliance) that can serve as a go-to resource for more information about the transition, including timing, what to expect, and answers to frequently asked questions.

Yes. Account history information will be viewable on Schwab Advisor Center® (schwabadvisorcenter.com) and Schwab Alliance for four years. Client statements will be available in PDF format for 10 years, tax documents will be available for 7 years, and trade confirmations will be available for 2 years. Up to 10 years of tax documents and trade confirmations may be requested from a service professional.

If a client has selected the paperless statement preference, they will get the account transition notice (sent June 28) and account verification (sent September 5) via email. If a client has selected any other paperless preference (confirms, tax docs, etc.), they will get their transition communications through the mail. The send dates for direct mail are the same as above; however, it will take the USPS approximately three to seven days to deliver them. 

All clients will receive the Key Information packet (sent on or about August 1) in the mail.

We monitor email so, if a client's email bounces back as undeliverable, we will send those clients the account transition notice and / or account verification in the mail as a backup.

  • Use "Charles Schwab & Co., Inc." in the first reference to the name, or "Charles Schwab & Co., Inc. ("Schwab")" if you want to use just "Schwab" in additional references. Use a non-stylized font that matches the body of the text where the name appears.
  • You should not use the Schwab logo or any stylized trademark of Schwab.
  • Only use Schwab's name in firm-produced marketing brochures, presentations, form letters, press releases, and on your business webpage. Any other type of communication – advertising, videos, social media, etc. – is not allowed. 
  • Take a look at our guidelines if you need more information on how you can use the Schwab name.

See all FAQs

Find out how to use the Schwab name in communications you develop for your clients.

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