Transferring TD Ameritrade account(s) to Charles Schwab - An efficient process

nzeda@ Member ✭✭✭
edited July 2023 in FAQ'S (Windows)
I had several TD Ameritrade accounts that were transferred early this week to Charles Schwab.

Early this week, TD Ameritrada accounts were transferred to Charles Schwab following the merge of both companies. I searched Quicken discussions but could not find a process for transferring my TD Ameritrade accounts to Charles Schwab that worked.

You may want to create a backup of your Quicken file before proceeding below.

Please use the steps below, which are more efficient, less time consuming and let's you keep all your old transactions.

I used the following steps to move the accounts to Schwab in Quicken.
1. I deactivated all my TD Ameritrade accounts. You can now change the account name to Schwab or do it at the end.
2. Used create new account feature in Quicken to create new Charles Schwab accounts (this was done online - not as offline accounts)
3. Quicken automatically sends you to Charles Schwab website, where you enter you credentials and approve your accounts data to be accessed by Quicken.
4. In Quicken, you need to link your newly accessed Schwab account(s) to the TD Ameritrade account(s). In case you have several accounts, you need to make sure that you link each new Schwab to the corresponding TD Ameritrade account.
5. You can now rename your TD Ameritrade account(s) to Schwab, in case you did not do it in the first step above.
6. Check you stock, cash and mutual funds transactions in your new Schwab account(s). Everything was fine with my stocks and mutual funds transactions. I only had to update the cash balance in Schwab account(s) created in Quicken.
7. I ran One Step Update in Quicken and everything works fine.

I hope the above helps other users.
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