May 18, 2023 Charles Schwab and TD Ameritrade Update
As you may already know, Charles Schwab purchased TD Ameritrade in 2019. If your accounts are with TD Ameritrade, they will transition to Charles Schwab over Labor Day Weekend 2023. On or about Tuesday September 5, 2023, Charles Schwab will become the custodian of your accounts.
Leonard Rickey Investment Advisors’ role will stay the same. We are your advisor and will continue to manage your accounts through a new custodian.
There is no action for you to take at this time. You will start receiving notices via email or mail next month.
- At the end of June 2023, you will receive an Account Transition Notice from TD Ameritrade that includes details of the transition, including timing, what to expect, disclosures, and information about your cash sweep feature.
- In early August 2023, you will receive a Key Information Packet including new account numbers, important details on the transition, and steps to set up your Schwab Alliance Login ID and password.
Here is a link to Charles Schwab website with the transition timeline and additional information: https://welcome.schwab.com/alliance
We will continue to provide reminders and updates, and as always, feel free to call or reach out to us if you have any questions or concerns.
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