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TD Ameritrade to Charles Schwab

chall3809

TD Ameritrade is moving to Charles Schwab this weekend and I"m wondering how I should handle my transaction downloads. Should I create a new account and connect to Schwab or can I link the new downloads to my existing TD Ameritrade account and then just rename the account?

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Accepted answers

Tom Young

You should be able to do either, depending on how you want to handle the situation.

However, the majority of TD Ameritrade accounts were transferred to Schwab last September and I do remember that the announcement of the forthcoming event did state that some TD Ameritrade accounts would stay with Schwab while Schwab made changes to its system to accommodate these accounts. Do you have any idea of why your particular account got left behind? That bit of detail may effect in some way you decision as to "new Schwab account" vs. "simply change the name of the Financial Institution and the Account Number."

A FAQ about this transfer of accounts how how you might choose to handle this can be found here:

https://community.quicken.com/discussion/7930273/faq-changing-brokerages

All comments

Tom Young

You should be able to do either, depending on how you want to handle the situation.

A FAQ about this transfer of accounts how how you might choose to handle this can be found here:

https://community.quicken.com/discussion/7930273/faq-changing-brokerages

chall3809

Thanks! That link helpeed alot!

chall3809

I've tried both ways of merging with my existing TD Ameritrade account or creating a new Schwab account - neither is acceptable!

I get tons of bogus trades with lots of Placeholder entries. I just can't get them reconciled. I'm inclined to just not use any downloaded transactions.

Tom Young

"I get tons of bogus trades"

Are you literally saying that you're getting downloaded Buys and Sells - presumably coming out of the new Schwab account(?) - that are flat-out wrong, either the transactions never happened or they did occur but the numbers associated with the transactions - security, price, number of shares, etc. - are incorrect?

That strikes me as unlikely and perhaps you could post a screen shot of some of the bogus transactions.

I seem to remember, and I could be wrong here, that downloading from TD Ameritrade would continue for the "left behind" accounts not transferred to Schwab in the September time frame. Did that happen, or not? It would seem like if it did happen you'd only have a small number of "new" transactions, if any, sent to the file.

Now if the TD Ameritrade downloads didn't happen as I remember and you weren't making manual entries up to "this weekend" I would expect that Placeholders would be created and the "window" of historical transactions available to download probably doesn't go all the way back to September, resulting in Placeholders.

If you have Automatic entry turned on I'd advise that you turn that off and try one or the other ways of getting this working. That at least would put the downloads in the "Downloaded Transactions" window where you can look at them one at a time, accepting or deleting individual transactions as necessary.

chall3809

Many of the symbols have been changed. They have Added and Removed symbols with "PUT" and "CALL" as the prefix to the normal transaction name - it's juist a total mess and I don't know how to reconcile. I've pretty much justj decided to delete the account and not even track the transactions with Quicken.

sanjivmshah

I changed the brokerage in the old ameritrade account to Schwab. It sees the securities but has some ancient transactions it is trying to download, which is a total mess. There are 472 transactions stuck in the online center and I don't know how to clear them. My cash and securities balances line up perfectly though I had to manually add Friday's and Monday's trades.

A fix from Schwab would be greatly appreciated - as chall3809 noted, Schwab need not name all securities and just needs to assume account is up to date and just download new transactions. I am willing to manually match old/new securities but not hundreds of transactions!!!!!

rwrich21

My TD Ameritrade accounts were moved over to Schwab on May 10, 2024. I have not had any problems with downloading prices but I also have not made in transactions.

I would like to update the names of my accounts from TD Ameritrade to Schwab.

My question is, if I update the information on the account general tab such as

TD Ameritrade To Schawab Account.bmp

Account name, Description, Financial Institution, or account number, will that affect the download of transactions and price information?