An Exciting Future.

Here to keep you in the know every step of the way.

"This combination, it's historic."

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Chuck, do you want to be the biggest? The most profitable? What do you want to be? 

When I started, we would be doing 50 trades a day. Five Oh. All by hand with a pen and a pad. 

I knew instinctively that individual investor needed a better deal, that they were getting a raw deal from Wall Street. I certainly knew in my mind that we had a great business opportunity ahead of us. And I'm sure Joe Ricketts felt the same way. 

You know, we would study our competitors very, very carefully. Kept us fresh. Kept us ambitious.
        
"Best service. Big discounts. 24 hours a day, seven days a week. I'm Charles Schwab. And that's the way I see it. From the investor's point of view."

There are many times Ameritrade would come up with some interesting idea. I mean, my goodness! Thinkorswim.. I wish we had done that. It was always sort of that kind of “Can we leapfrog them? And they would I'm sure say the same thing: "Can we leapfrog Schwab?"

One of the earliest online capabilities.

Buy, sell, do your research. I'll just call up a portfolio. And the order has been placed in our host computer system.

It was all about trying to help individual investors, better service, lower prices, faster transactions. 

Both companies had our freedom to take care of individual investors. 

In the early days, Merrill Lynch, might've been $110 for a trade and we brought it down all the way down. Finally, about a year ago, we were down to $5 and finally I decided let's go to zero. That's where it should be. Let's go to zero. 

It would not have happened except for firms like Ameritrade and ourselves, who pushed that envelope. 

I guess the beauty of being somewhat mature…is to see that most successful people I know, or people who are doing something for somebody else.

"Owning your tomorrow" is the way we express it. “Transforming lives." It's the same subject matter. It's really about helping people.

And that has not changed. You're helping somebody. Those are the most fulfilling of all jobs, for my money.

This combination, it’s historic. There’ll be no other company like the combination of the two companies coming together. 

Individual investors and their independent advisors. Total focus. 

There are other companies that might say we're like that also, but they're not. 

It's the people at Ameritrade and the people at Schwab. We’ll be independent. We won't be part of another company that has a different mission in life.

Chuck, do you want to be the biggest? The most profitable? What do you want to be? 

The merger today is not about being the biggest. To me, it's about being the strongest. An unbelievable fortress of a company with the highest level of integrity. That's what you want to deal with. And that's what we want to offer.    
 
 

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Today we have the opportunity to combine the best of what Schwab and TD Ameritrade offer. We're honored to welcome TD Ameritrade retirement and health savings clients to Schwab.  As we combine our offerings, we are committed to delivering the tools, knowledge, technology, and service you need to continue moving forward.

To those who've been with us on this journey, thank you. To those of you new to Schwab, we can't wait to get to know you–and show you how our future together can benefit you and the clients we mutually serve.

Your information hub, to help you stay informed every step of the way.

You can expect timely communications from us, and we will notify you well in advance of any important changes impacting you or any of the clients we mutually serve. Please consider bookmarking this page and checking periodically for updates. It's your central information source as we bring the two companies together.

If you have questions, please contact your Personal Choice Investment Services (PCIS) team or view our Participant FAQs.

Preview details about communications to plan sponsors and participants.

Stay informed

Introducing Schwab's Self-Directed Plan Solutions

Schwab PCRA

TD Ameritrade Self-Directed Brokerage Account (SDBA) has become Schwab Personal Choice Retirement Account® (PCRA).   

A Schwab PCRA is a SDBA that resides within your employer-sponsored retirement plan. In addition to the choices typically offered by retirement plans, PCRA lets you invest in a much wider range of investments.

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Schwab HSBA

Schwab's Health Savings Brokerage Account (HSBA) is the new home for account holders who seek investment choice and flexibility on their journey to fully realize the power of investing within their Health Savings Account (HSA).

Schwab HSBA is a self-directed brokerage account that resides within your Health Savings Account (HSA). In addition to the investment choices typically offered by a Health Savings Account, an HSBA lets you invest in a wide range of investment options to include stocks, bonds, mutual funds, and Exchange Traded Funds (ETFs).

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Schwab ESBA

TD Ameritrade Employer-Sponsored Brokerage Account (ESBA) has become Schwab Employer-Sponsored Brokerage Account (ESBA).

Schwab ESBA provides a similar small business retirement plan custody solution as the former TD Ameritrade ESBA  product. This retirement plan brokerage solution allows retirement plan participants to build their own portfolio with a variety of investment vehicles including stocks, bonds, CDs, ETFs, and mutual funds, or choose to have their retirement plan account professionally managed by an advisor. Schwab ESBA continues to utilize an online employer portal.

Looking for key dates and details about the move of all SDBAs, ESBAs and HSBAs?

Read participant FAQs

You probably have a few questions. Here are some answers.

Where we're headed and what to expect

Where we're headed and what to expect

  • Self-Directed Plan Services (SDPS) accounts transitioned to Schwab over Labor Day weekend 2023.
  • Your existing service team is working with you to create a detailed integration plan to be able to support the transition of these accounts. This will include technical integration from TD Ameritrade to Schwab such as integrated file processing, Single Sign On (SSO), and Electronic Account Opening (EAO).

Platforms and Tools

Platforms and Tools

  • All SDPS participants have access to view positions and trade on Schwab's website, Schwab.com and the Schwab Mobile app asof  Tuesday, September 5.

  • For the small population of SDPS participants who currently utilize the thinkorswim platform at TD Ameritrade, they will temporarily have a different user experience after their transition to Schwab. They will continue to have immediate thinkorswim access to the powerful charts and tools they use today on thinkorswim desktop, web, and mobile after their account transitions.

  • In addition, any settings, preferences, or alerts that were previously set up on thinkorswim automatically carried over to Schwab. 

  • However, they initially cannot place a trade or view their account balances via thinkorswim and are required to use Schwab.com and the Schwab Mobile app for trading. We will let SDPS participants know when their account has access to the full range of thinkorswim trading features in the coming months. 

  • This only temporarily impacts SDPS accounts using thinkorswim and not other thinkorswim account types.

  • As we bring the best of our two firms together, we plan to integrate the platforms and associated tools to create an experience that will thoughtfully combine the capabilities, education and service that clients enjoy at both firms. 
  • Schwab Stock Slices™: A simple, low-cost way to invest in any company in the S&P 500®. Now anyone can own any of America's leading companies in the S&P 500® for as little as $5, even if their shares cost more.
     
  • Thematic research: Schwab uses a unique research process to uncover emerging trends and innovations and to assess their investment potential. We use artificial intelligence to help us mine terabytes of data and discover companies to consider for a given theme. After filtering out companies that don't meet our criteria, a list of highly relevant stocks is generated for each theme and reviewed frequently.

    Clients can research our catalog of 40+ thematic stock lists by keyword, company, stock symbol, or theme name. And there’s no fee to access our thematic stock lists.
     
  • Environmental, Social and Governance (ESG) Investing:  This investment approach puts a degree of emphasis on social or environmental factors, in addition to traditional risk and return considerations. Participants can choose from over 200 mutual funds and over 200 ETFs to find and compare ESG funds using Schwab's proprietary screening and comparison tools.
     
  • Customizable screener tools: When account holders are looking for investments that meet very specific criteria and they need to narrow down the many choices, they can use our customizable screeners to perform searches based on factors that are important to them. They can find screeners for stocks, mutual funds, ETFs, and bonds. They can also screen for ESG Investments with Mutual Fund and ETF screener tools.
     
  • Education: Account holders can hone their investing skills by attending events on topics such as building a diversified portfolio and making the most of Schwab.com. And they can get fresh updates on the market and investing trends that matter from Schwab experts and industry-leading independent firms. They can access market insight, On Investing® magazine, and other helpful tools on Schwab.com
  • Schwab's Broker-Dealer will be the end state infrastructure of the combined firm. Schwab Advisor Center® will replace Veo One®.  View the SDPS demonstration replay on Schwab Advisor Center.
     
  • As read-only access to Veo One will continue for a short time past the transition weekend, we recommend you download and save any necessary documents, transaction history, and/or reports prior to August 28, 2023, as these will not be available on the Schwab Advisor Center® post conversion.

Schwab will begin generating plan-level reports starting in October, which includes transaction activity in September. The Schwab PCRA Reporting Package will include 5500 H&I, 5500 C, Plan Detail Reports, Detailed Transaction Reports and Quarterly Business Reports.

To access reports, navigate to Schwab Advisor Center® at https://advisorservices.schwab.com where you will use your previously provided login to access the site. Schwab Advisor Center requires two-factor authentication each time you login.

Go to the Accounts tab and search for your firm’s Schwab master account. Once the master account has been selected, go to the Documents tab and scroll down to the section: Retirement Supplemental Plan reports for the Last 12 months. Here you’ll see all available reporting. Select the checkbox for your desired reports and click Download Documents.

Reports created and generated prior to August 31, 2023, will be archived at Schwab; however, these legacy reports will not be available via Schwab Advisor Center.

As read-only access to Veo One will continue for a short time past the transition weekend, we recommend you download and save any necessary documents, transaction history, and/or reports prior to August 28, 2023.

  • For any SDPS account, participant's systematic (recurring) mutual fund investment instructions will not transfer to Schwab. Schwab Automatic Investment Plan (AIP), an equivalent program to TD Ameritrade's systematic mutual fund investments, will be available after participants' transition to Schwab and will allow them to make systematic mutual fund buys and sells in customizable amounts and frequencies.
     
  • Participants were informed that their systematic mutual fund investment instructions would not transfer to Schwab and the communication included information on timing and where they can enroll in Schwab AIP and establish new instructions.

Yes, an investment advisor can be added to view a participant's account.

If a plan allows, advisors can also be added to a participant's account to trade and/or charge management fees.

If an investment advisor has an existing Investment Advisor Services Agreement with Schwab, they should be added to an account using the Schwab Personal Choice Retirement Account® (PCRA) Limited Power of Attorney (LPOA) Form To Authorize an Investment Advisor.

If an investment advisor does not have an existing Investment Advisor Services Agreement with Schwab, they can still be added to a participant's account. 

If an investment advisor does not have an existing Investment Advisor Services Agreement with Schwab, they should be added to an account using the Schwab Personal Choice Retirement Account® (PCRA) Limited Trade Authorization (LTA) Form To Authorize a Third Party.

Once an authorized advisor is added, they will have access to view the account when they login to Schwab Advisor Center®

Plan-level trading rules will apply, and the advisor should understand those rules prior to placing trades on behalf of the plan participant. 

View the SDPS demonstration replay on Schwab Advisor Center®.

Transition

Transition

  • Any payments or assets (e.g., dividends, cash interest, checks that did not yet process, incoming transfer of assets) deposited into participants' TD Ameritrade account after it has transitioned to Schwab will be automatically transferred to their Schwab account. After their account moves to Schwab, cash payments will be transferred nightly, and assets will be transferred weekly.
  • Residual activity from dividends, interest, and interest credit will be transferred to their Schwab account.
  • If a participant owns a security that is currently going through a corporate action, has a legal restriction, or is a recent purchase or transfer of an alternative investment, it may take additional time to show up in their Schwab account. Once the event or restriction is cleared, the security will automatically transfer to their Schwab account.
  • After the transition, participants can view any residual account activity in their transaction history by logging in to Schwab.com and navigating to Accounts > History > Transactions. Residual activity will be tagged with "TDA TRAN" to indicate any payments or assets moving into their Schwab account from their TD Ameritrade account after their account has moved to Schwab. They'll also receive a statement from TD Ameritrade for any period with residual activity.  
  • Yes, Schwab and TD Ameritrade use different structures for account numbers. New 8-digit account numbers were created for each corresponding TD Ameritrade account, and account holders were invited to create a Schwab login ID and password prior to the transition.
     
  • Participants will see their new account number(s) after their account transitions when they log in at Schwab.com and view their Accounts Summary page.
  • Yes. Advisors who currently manage client assets on the TD Ameritrade platform may visit the Institutional Information Hub which can be accessed directly from this page. Within the Institutional Information Hub advisors can locate helpful resources and in-depth details such as the latest updates and roadmap for the transition, the Advisor Services Transition Planning Guide, and FAQs.  

Working with providers, any plan full or partial transfers between TD Ameritrade and another firm can be requested until the last date listed below:

  • July 31, 2023: Last day to accept a full or partial plan transfer request (must receive paperwork in-good-order by this date).

Any plan full or partial transfers with a requested initiation date after July 31st should be discussed and arranged with your Provider Services Team.

Service and Support

Service and Support

  • Your TD Ameritrade Self-Directed Plan Services Team, contact information, and business hours remain the same. We will notify you in advance of any changes to your service.

Yes, on both our provider services and participant services phone lines we offer a callback feature for use during heavy call volume times.

If an account has a zero balance with no shares or positions, participants may contact Schwab and request for their account to be closed. Account closures are included on provider return files. 

Schwab ESBA

Schwab ESBA

  • Yes, Schwab ESBA has a similar online portal as TD Ameritrade's ESBA Connect.

To view details about accessing your plan on ESBA Connect, establishing participant accounts, and contributing and disbursing funds from your accounts, view our Transition Guide.

Have more questions?

Please reach out to your Schwab Personal Choice Investment Services (PCIS) team.