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Communication From Schwab For Transition + Phishing Alert

June 29, 2023

As we’ve mentioned in podcasts and newsletters, the target date for the conversion remains September 5 – Labor Day weekend.
As part of the regulations for this conversion, a letter will be sent June 28 outlining some changes such as moving from TD Ameritrade cash account to Schwab cash account, etc.
All instructions for transfers to banks, distributions, etc. will convert to Schwab. There is no need for you to take any action for your accounts to move from TD Ameritrade – Financial Connections to Schwab – Financial Connections.
Please don’t hesitate to contact us should you have any questions. 
On a different topic, scammers are pretending to allegedly “help” you with the transition from TD Ameritrade to Schwab. PLEASE ignore or call us to check. Below is information from the bulletin we received:

  • The emails are coming from a domain referencing “tdameritradebank” which is not an email we maintain or use.
  • The emails claim that contacting Client Services would “delay the process severely”.
  • The fax and addresses provided in the fake email are true Ameritrade methods of contact. However, the initial email requests information to be sent elsewhere.

TD Ameritrade and Schwab will not ask for personal information by email. They already have it! Again, don’t respond, don’t click. If unsure, contact us!


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