TD Ameritrade / Charles Schwab Transition

NO ACTION NECESSARY!

WHAT TO EXPECT

In the coming weeks, prior to the conversion, you will receive a personalized Key Information Packet from Schwab with all your account information.

All TD Ameritrade Accounts will be securely transitioned to Schwab over Labor Day Weekend, 2023. As of Tuesday, September 5, 2023, your accounts and documents will be live on the Schwab Platform and Schwab will be the custodian of your accounts.

IMPORTANT: Your Relationship with Demming Financial Services Corp. Remains Unchanged.

WHAT IS CHANGING?

Account Numbers

  • Once your accounts are transitioned to Schwab, they will be assigned new 8-digit account numbers. All TD Ameritrade account numbers will no longer be valid.

    • Your new account numbers will be provided to you in the Key Information Packet from Schwab

Money Request Timing

  • 3 Business Days - Please be aware that all money requests will now take 3 business days to complete. This means that you should expect the funds to be transferred to your bank account 3 days after you’ve made your request for funds during trading hours.

Online Account Access

  • AdvisorClient (TD) is now Schwab Alliance

  • Client account access will be on the Schwab Platform – Schwab Alliance (LINK)

  • You will need to create a Schwab Username & Password

•Click HERE for Instructions

•Instructions will also be included in your Key Information Packet from Schwab

Frequently Asked Questions:

Is there anything I need to do?

  • No. There is nothing clients need to do before the transition. Your accounts will automatically & securely transition to Schwab over Labor Day Weekend 2023.

  • You do NOT need to open separate accounts at Schwab.

Will my investments and/or account information be changed during the transition?

  • No. All investments will remain invested during the transition and not be sold to cash. Similarly, all account information including registrations, beneficiaries, and personal account information will remain the same through the transition.

Will I have access to my Account History and Documents?

  • Yes. Account history, statements, and tax documents will all transfer from TD Ameritrade to Schwab. Specifically:

• 10 years of Statements

• 7 years of Tax Documents

• 4 years of Account History

• 2 years of Trade Confirmations

Will I still receive my scheduled account distributions?

  • Yes. All standing instruction on client accounts related to scheduled distributions will remain in place.

Do I need to update or re-establish my bank account to receive and/or contribute funds?

  • No. All standing letters of authorization (SLOAs) on client accounts related to banking will remain in place.

Our goal is to make this transition as seamless and easy as possible for our clients. If you have any questions or concerns, please contact our office at 330-562-2122 or email info@demmingfinancial.com.