TD Ameritrade to Schwab Transition

During the first month, there will be a lot of "TDA to CS&CO" transfers for income, followed by shares added/bought if you reinvest dividends. The details will show up on the Schwab website in 0-3 days, sometimes sooner in Thinkorswim.

Sometimes I would get a $30 transfer that would turn into $10, $10, and $5 dividends, followed by Add/Buy transactions for the reinvestments.

There will also be TDA interest and margin in the middle of the month for the first month or two, then Schwab interest and margin at the end of the month.

Rather than create new accounts and transfer the positions as others may recommend, I opted to turn off TDA Direct Connect on the Friday evening of the transition, clear the FI details from the account details, then turn on Schwab EWC on the Monday morning after the transition.

This ended up creating a bunch of "Shares Transferred" transactions from Schwab EWC, which I ended up deleting. If you trade options, Schwab will send new "Buy/Sell to Open/Close" transactions that will match up with the previously-accepted TDA transactions.

Particularly in the first month, I would get separate "Dividend" and "Buy" transactions, rather than the "Dividend Reinvest" transactions I got from TDA. Now that I'm 2+ months past the transition, I'm more likely to get "Dividend Reinvest" transactions, but not always.

Good luck. :)

-Scotty

Very helpful - thank you!

I didn't have a problem for the most part - the only small problem I had is that there was a missing fee transaction on the date of the transition that didn't make it into the Schwab account. I just added it manually.

Received notification that my TDA accounts are finally going to be transitioned to Schwab next month. Mildly curious how seamless the transition will be with Quicken One Step downloads. Anyone been through this?

I assume the Schwab account numbers will be different than the TDA numbers? Update those when relinking accounts for OSU?