*This blog was updated on 4/19/23.
Charles Schwab has announced that the TD Ameritrade transition is planned for Labor Day weekend 2023. In preparation for this transition, it is imperative to ensure that you have access to AdvisorClient.com and have updated your delivery preferences for all accounts.
Beginning in May, June, and July, TD will be sending communication to clients who have not set up online access on AdvisorClient.com. We highly recommend establishing credentials now at AdvisorClient.com to make your transition to Schwab seamless. This will also ensure that you are receiving account information (monthly statements, trade confirmations, tax documents, etc.) through your preferred method.
Communication Preferences: Monthly statements, trade confirmations, and tax documents
In October 2020, Charles Schwab announced that they had acquired TD Ameritrade with a beginning transition date of Summer 2023. They are now beginning to roll out a few minor changes that involve TD Ameritrade accounts. One of the main changes is to the communication preferences and how you receive your monthly statements, trade confirmations and tax documents.
We strongly recommend all clients create or update your TD Ameritrade online account in order to ensure you are receiving account information through your preferred method, as the new regulations will not allow the Storen Financial team to do this for you. This is also a great way to stay up to date and simplify the transition to Charles Schwab. (Click here to learn more about the transition.)
Already have an online account?
If you have already established your online account username and password, we recommend you login and review your communication preferences. Please see our recommendations below.
Do NOT have an online account?
If the Storen Financial team had previously set up your account to receive electronic delivery of your documents and you did NOT set up an online account username and password, your communication preferences have changed. You may have already begun to receive paper notifications. We recommend you create a login and update your communication preferences.
To create your online account user ID and password, visit www.advisorclient.com/login/getstarted (click here) and have your account number ready. You will then need to verify your identity with a 6-digit code through a phone call or text using the phone number listed on your account. After that, you’ll be asked to create your user ID and password. Please remember to use a secure lengthy password with special characters, numbers and upper/lower case in order to help prevent identity theft.
Updating your communication preferences
1) Log in to your online account (click here)
2) Click on “My Profile”. Under “Security and Preferences” select “Communication Preferences”.
3) You will then see a list of your accounts. Select “Update Preferences Individually”.
4) Select how you would like to receive your monthly statements and trade confirmations. We recommend “electronic” for trade confirmations.
5) We also recommend all clients select “Paper” for your Tax Documents. This will ensure you receive your 1099 information via the mail at tax time.
If you have questions about AdvisorClient enrollment, please call the TD Ameritrade technical support team at 800-431-3500, option 4. You’ll need your account number, account type, title, firm name (Storen Financials’ firm name is “Brass Tax Wealth Management”), and your Social Security Number.
And as always, if you have any questions about this process, please contact our team (click here to contact us).
Blog by Lynn Prust – Client Relations Manager
“These materials have been independently produced by Storen Financial. Storen Financial is independent of, and has no affiliation with, Charles Schwab & Co., Inc. or any of its affiliates (“Schwab”). Schwab is a registered broker-dealer and member SIPC. Schwab has not created, supplied, licensed, endorsed, or otherwise sanctioned these materials nor has Schwab independently verified any of the information in them. Storen Financial provides you with investment advice, while Schwab maintains custody of your assets in a brokerage account and will effect transactions for your account on our instruction.”