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TD Ameritrade withdrawal / transfer to a Schwab account
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club

After you log in to TDA, under the client services menu at the top , one of the drop down options on the far left is 'Messages". I have found TDA to be very responsive when contacted in this manner. I am sure they can answer your questions.

Peter Dunkelberger
Sumner Stock Selectors Investment Club

On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club
Consider using the secure communication area of the TDAmeritrade account. Response time has been about 24 hours and it is a lot less frustrating. Additionally, you get a record of what you were told.
s


On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club
Hi Kevin,

Our club has two members doing a full withdrawal and they both have TDAmeritrade accounts. We were going to just transfer stocks and cash to their accounts. I filled out the TDA transfer forms and tried to deliver them to the local branch in St. Paul Mn. but none of the local branches are open. So then I decided to fax the forms in with the Fax # that is on the form, not sure if anyone received the form because the transfer has not taken place yet (forms were faxed on Feb. 2). I then sent an email to support services though the TDA mail system and still waiting for a response. Normally they respond in 24 hours to any emails sent to Support services. The Member that is leaving had a direct line to one of the local agent so I called that # and talked to Reed. He stated that they have a backlog of orders and it might take some time. I was not happy with that response but what can a person do. I did try to call today to get a live person to look into the transfer but could not hold the 1 hour and 30 min.

Let us know if you have any luck talking to someone.

Bill Waskosky
ClubNet

On Mon, Feb 8, 2021 at 12:05 PM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club
Where is the secure communication link?

Kevin

On Mon, Feb 8, 2021 at 1:26 PM SB via bivio.com <user*1595500001@bivio.com> wrote:
Consider using the secure communication area of the TDAmeritrade account. Response time has been about 24 hours and it is a lot less frustrating. Additionally, you get a record of what you were told.
s


On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club
Under "My Account", "Deposit & Transfer" then "Internal Transfer"
Fill out forms
1. Transfer From
2. Transfer To
3. Review & Finalize

On Mon, Feb 8, 2021 at 10:30 AM William Waskosky via bivio.com <user*33549200001@bivio.com> wrote:
Hi Kevin,

Our club has two members doing a full withdrawal and they both have TDAmeritrade accounts. We were going to just transfer stocks and cash to their accounts. I filled out the TDA transfer forms and tried to deliver them to the local branch in St. Paul Mn. but none of the local branches are open. So then I decided to fax the forms in with the Fax # that is on the form, not sure if anyone received the form because the transfer has not taken place yet (forms were faxed on Feb. 2). I then sent an email to support services though the TDA mail system and still waiting for a response. Normally they respond in 24 hours to any emails sent to Support services. The Member that is leaving had a direct line to one of the local agent so I called that # and talked to Reed. He stated that they have a backlog of orders and it might take some time. I was not happy with that response but what can a person do. I did try to call today to get a live person to look into the transfer but could not hold the 1 hour and 30 min.

Let us know if you have any luck talking to someone.

Bill Waskosky
ClubNet

On Mon, Feb 8, 2021 at 12:05 PM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club
Prior to the announced merger between TD Ameritrade and Schwab, I processed two withdrawals with stock transfers at TD Ameritrade, one was timely and correct; the other was delayed because the withdrawing partner did not want to comply with the partnership agreement that she helped draft and had signed.

Our partnership agreement requires that withdrawing partners must open (or already have) a brokerage account with the same broker that the partnership uses.  We will not transfer to another brokerage and will hold the stocks to be transferred until the account is opened and any dividends belong to the club until the transfer is complete.

Joe Farrell
Treasurer
Everyday Investment Club


On Feb 8, 2021, at 12:33 PM, Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:

Where is the secure communication link?

Kevin 

On Mon, Feb 8, 2021 at 1:26 PM SB via bivio.com <user*1595500001@bivio.com> wrote:
Consider using the secure communication area of the TDAmeritrade account. Response time has been about 24 hours and it is a lot less frustrating. Additionally, you get a record of what you were told.
s


On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club

Thanks. I see that. But that seems to be for someone who already has a TDAmeritrade Account and not a Schwab account. Am I missing something?

Kevin

On Mon, Feb 8, 2021, 1:35 PM Norman Gee via bivio.com <user*125100001@bivio.com> wrote:
Under "My Account", "Deposit & Transfer" then "Internal Transfer"
Fill out forms
1. Transfer From
2. Transfer To
3. Review & Finalize

On Mon, Feb 8, 2021 at 10:30 AM William Waskosky via bivio.com <user*33549200001@bivio.com> wrote:
Hi Kevin,

Our club has two members doing a full withdrawal and they both have TDAmeritrade accounts. We were going to just transfer stocks and cash to their accounts. I filled out the TDA transfer forms and tried to deliver them to the local branch in St. Paul Mn. but none of the local branches are open. So then I decided to fax the forms in with the Fax # that is on the form, not sure if anyone received the form because the transfer has not taken place yet (forms were faxed on Feb. 2). I then sent an email to support services though the TDA mail system and still waiting for a response. Normally they respond in 24 hours to any emails sent to Support services. The Member that is leaving had a direct line to one of the local agent so I called that # and talked to Reed. He stated that they have a backlog of orders and it might take some time. I was not happy with that response but what can a person do. I did try to call today to get a live person to look into the transfer but could not hold the 1 hour and 30 min.

Let us know if you have any luck talking to someone.

Bill Waskosky
ClubNet

On Mon, Feb 8, 2021 at 12:05 PM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club
Joe,

This is more for my understanding of things. I finally got through to TD Ameritrade Customer Support. He is telling me that the individual initiates the request. That seems risky in that they could choose different stocks than the one we identified to transfer. I see on TD Ameritrade where I can do an "internal transfer" inside TD Ameritrade.

It seems straightforward: select which stocks I want to transfer in the "internal transfer" section. Then transfer to a different account. Put the account number and person's name in the appropriate box. Send it off.

That is not what I am getting from the TD Ameritrade rep I am talking to now.

Can you clarify please.

Kevin

On Mon, Feb 8, 2021 at 1:54 PM Joe Farrell via bivio.com <user*14102900001@bivio.com> wrote:
Prior to the announced merger between TD Ameritrade and Schwab, I processed two withdrawals with stock transfers at TD Ameritrade, one was timely and correct; the other was delayed because the withdrawing partner did not want to comply with the partnership agreement that she helped draft and had signed.

Our partnership agreement requires that withdrawing partners must open (or already have) a brokerage account with the same broker that the partnership uses. We will not transfer to another brokerage and will hold the stocks to be transferred until the account is opened and any dividends belong to the club until the transfer is complete.

Joe Farrell
Treasurer
Everyday Investment Club


On Feb 8, 2021, at 12:33 PM, Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:

Where is the secure communication link?

Kevin

On Mon, Feb 8, 2021 at 1:26 PM SB via bivio.com <user*1595500001@bivio.com> wrote:
Consider using the secure communication area of the TDAmeritrade account. Response time has been about 24 hours and it is a lot less frustrating. Additionally, you get a record of what you were told.
s


On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club

That is why we request every member of our club, must have a personal td ameritrade account .
we added that to our club PA and bylaws.
Anat Benjamin
Alchemy investment club

On Mon, Feb 8, 2021 at 2:40 PM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
Joe,

This is more for my understanding of things. I finally got through to TD Ameritrade Customer Support. He is telling me that the individual initiates the request. That seems risky in that they could choose different stocks than the one we identified to transfer. I see on TD Ameritrade where I can do an "internal transfer" inside TD Ameritrade.

It seems straightforward: select which stocks I want to transfer in the "internal transfer" section. Then transfer to a different account. Put the account number and person's name in the appropriate box. Send it off.

That is not what I am getting from the TD Ameritrade rep I am talking to now.

Can you clarify please.

Kevin

On Mon, Feb 8, 2021 at 1:54 PM Joe Farrell via bivio.com <user*14102900001@bivio.com> wrote:
Prior to the announced merger between TD Ameritrade and Schwab, I processed two withdrawals with stock transfers at TD Ameritrade, one was timely and correct; the other was delayed because the withdrawing partner did not want to comply with the partnership agreement that she helped draft and had signed.

Our partnership agreement requires that withdrawing partners must open (or already have) a brokerage account with the same broker that the partnership uses. We will not transfer to another brokerage and will hold the stocks to be transferred until the account is opened and any dividends belong to the club until the transfer is complete.

Joe Farrell
Treasurer
Everyday Investment Club


On Feb 8, 2021, at 12:33 PM, Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:

Where is the secure communication link?

Kevin

On Mon, Feb 8, 2021 at 1:26 PM SB via bivio.com <user*1595500001@bivio.com> wrote:
Consider using the secure communication area of the TDAmeritrade account. Response time has been about 24 hours and it is a lot less frustrating. Additionally, you get a record of what you were told.
s


On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club

I think you should ask for the form used to donate stock to a charity.  There is no difference in the transfer process for TD Ameritrade if the brokerage firm the stock is being transferred to belongs to a charity or a person.  I think the form is the same as well.
Lisa Robertson 
On 02/08/2021 11:40 AM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
 
 
Joe,
 
This is more for my understanding of things. I finally got through to TD Ameritrade Customer Support. He is telling me that the individual initiates the request. That seems risky in that they could choose different stocks than the one we identified to transfer. I see on TD Ameritrade where I can do an "internal transfer" inside TD Ameritrade. 
 
It seems straightforward: select which stocks I want to transfer in the "internal transfer" section.  Then transfer to a different account. Put the account number and person's name in the appropriate box. Send it off.
 
That is not what I am getting from the TD Ameritrade rep I am talking to now.
 
Can you clarify please.
 
Kevin

On Mon, Feb 8, 2021 at 1:54 PM Joe Farrell via bivio.com <user* 14102900001@bivio.com> wrote:
Prior to the announced merger between TD Ameritrade and Schwab, I processed two withdrawals with stock transfers at TD Ameritrade, one was timely and correct; the other was delayed because the withdrawing partner did not want to comply with the partnership agreement that she helped draft and had signed.
 
Our partnership agreement requires that withdrawing partners must open (or already have) a brokerage account with the same broker that the partnership uses.  We will not transfer to another brokerage and will hold the stocks to be transferred until the account is opened and any dividends belong to the club until the transfer is complete.
 
Joe Farrell
Treasurer
Everyday Investment Club
 

On Feb 8, 2021, at 12:33 PM, Kevin Gillogly via bivio.com < user*9886100001@bivio.com> wrote:

Where is the secure communication link?
 
Kevin 

On Mon, Feb 8, 2021 at 1:26 PM SB via bivio.com <user* 1595500001@bivio.com> wrote:
Consider using the secure communication area of the TDAmeritrade account. Response time has been about 24 hours and it is a lot less frustrating. Additionally, you get a record of what you were told.
s
 

On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user* 9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club
Lisa,

That is the form they sent over to me. Joe mentioned it is straightforward. It seems to be. I had the account rep walk me through the different lines of the form but what you said Lisa matches what their rep told me.

I think I am set.

Thanks to all who have responded. Much appreciated.

Kevin

On Mon, Feb 8, 2021 at 2:52 PM Lisa Robertson via bivio.com <user*14356800001@bivio.com> wrote:
I think you should ask for the form used to donate stock to a charity. There is no difference in the transfer process for TD Ameritrade if the brokerage firm the stock is being transferred to belongs to a charity or a person. I think the form is the same as well.
Lisa Robertson
On 02/08/2021 11:40 AM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:
Joe,
This is more for my understanding of things. I finally got through to TD Ameritrade Customer Support. He is telling me that the individual initiates the request. That seems risky in that they could choose different stocks than the one we identified to transfer. I see on TD Ameritrade where I can do an "internal transfer" inside TD Ameritrade.
It seems straightforward: select which stocks I want to transfer in the "internal transfer" section. Then transfer to a different account. Put the account number and person's name in the appropriate box. Send it off.
That is not what I am getting from the TD Ameritrade rep I am talking to now.
Can you clarify please.
Kevin

On Mon, Feb 8, 2021 at 1:54 PM Joe Farrell via bivio.com <user* 14102900001@bivio.com> wrote:
Prior to the announced merger between TD Ameritrade and Schwab, I processed two withdrawals with stock transfers at TD Ameritrade, one was timely and correct; the other was delayed because the withdrawing partner did not want to comply with the partnership agreement that she helped draft and had signed.
Our partnership agreement requires that withdrawing partners must open (or already have) a brokerage account with the same broker that the partnership uses. We will not transfer to another brokerage and will hold the stocks to be transferred until the account is opened and any dividends belong to the club until the transfer is complete.
Joe Farrell
Treasurer
Everyday Investment Club

On Feb 8, 2021, at 12:33 PM, Kevin Gillogly via bivio.com < user*9886100001@bivio.com> wrote:

Where is the secure communication link?
Kevin

On Mon, Feb 8, 2021 at 1:26 PM SB via bivio.com <user* 1595500001@bivio.com> wrote:
Consider using the secure communication area of the TDAmeritrade account. Response time has been about 24 hours and it is a lot less frustrating. Additionally, you get a record of what you were told.
s

On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user* 9886100001@bivio.com> wrote:
I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club

My two cents' worth. I'm not associated with a brokerage firm, but I was curious several years ago after speaking with a TDAmeritrade representative when our club transferred stocks to a withdrawing member. I think I have this right.

The rules for transferring securities between brokerage firms are in the ACATS Transfer Guide. Here's a link, although this can be found on multiple websites. ACATS Transfer Guide (US brokerage account transfers) | IB Knowledge Base (ibkr.info)

"ACATS" stands for Automated Customer Account Transfer Service and is a system that facilitates the transfer of securities from one account to another at a different brokerage firm.

When securities are transferred from one brokerage firm to another, the account name and tax ID number on the transferring and receiving accounts must match. Thus, an investment club can transfer its account to another brokerage firm because that information will be the same on both accounts. But, it cannot transfer securities to a withdrawing member whose account is at a different brokerage firm because the identifying information on the two accounts will not match.

The identifying information need not match on the two accounts if the transfer is within the same brokerage firm--ACATS doesn't apply. That's why the process is that the investment club transfers securities from its account at Broker A to its withdrawing member's account at Broker A (different identifying information). The withdrawing member then transfers the securities from Broker A to Broker B (matching identifying information).

This is not a particular brokerage firm's rule but, rather, is a standardized rule to which all brokers adhere.

I do not know whether TDAmeritrade and Schwab are now considered a single broker or two.

From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Kevin Gillogly via bivio.com
Sent: Monday, February 8, 2021 3:32 PM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] TD Ameritrade withdrawal / transfer to a Schwab account

Lisa,

That is the form they sent over to me. Joe mentioned it is straightforward. It seems to be. I had the account rep walk me through the different lines of the form but what you said Lisa matches what their rep told me.

I think I am set.

Thanks to all who have responded. Much appreciated.

Kevin

On Mon, Feb 8, 2021 at 2:52 PM Lisa Robertson via bivio.com <user*14356800001@bivio.com> wrote:

I think you should ask for the form used to donate stock to a charity.  There is no difference in the transfer process for TD Ameritrade if the brokerage firm the stock is being transferred to belongs to a charity or a person.  I think the form is the same as well.

Lisa Robertson 

On 02/08/2021 11:40 AM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:

 

 

Joe,

 

This is more for my understanding of things. I finally got through to TD Ameritrade Customer Support. He is telling me that the individual initiates the request. That seems risky in that they could choose different stocks than the one we identified to transfer. I see on TD Ameritrade where I can do an "internal transfer" inside TD Ameritrade. 

 

It seems straightforward: select which stocks I want to transfer in the "internal transfer" section.  Then transfer to a different account. Put the account number and person's name in the appropriate box. Send it off.

 

That is not what I am getting from the TD Ameritrade rep I am talking to now.

 

Can you clarify please.

 

Kevin

On Mon, Feb 8, 2021 at 1:54 PM Joe Farrell via bivio.com <user* 14102900001@bivio.com> wrote:

Prior to the announced merger between TD Ameritrade and Schwab, I processed two withdrawals with stock transfers at TD Ameritrade, one was timely and correct; the other was delayed because the withdrawing partner did not want to comply with the partnership agreement that she helped draft and had signed.

 

Our partnership agreement requires that withdrawing partners must open (or already have) a brokerage account with the same broker that the partnership uses.  We will not transfer to another brokerage and will hold the stocks to be transferred until the account is opened and any dividends belong to the club until the transfer is complete.

 

Joe Farrell

Treasurer

Everyday Investment Club

 



On Feb 8, 2021, at 12:33 PM, Kevin Gillogly via bivio.com < user*9886100001@bivio.com> wrote:

Where is the secure communication link?

 

Kevin 

On Mon, Feb 8, 2021 at 1:26 PM SB via bivio.com <user* 1595500001@bivio.com> wrote:

Consider using the secure communication area of the TDAmeritrade account. Response time has been about 24 hours and it is a lot less frustrating. Additionally, you get a record of what you were told.

s

 

On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user* 9886100001@bivio.com> wrote:

I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club

Susan's explanation matches my experience with various types of transfers. The only exception appears to be transfers to charities - that is the only situation where I have never seen a problem transferring between brokers whether I was on the sending side or the receiving side.

Ira Smilovitz, EA

On Mon, Feb 8, 2021 at 3:40 PM Susan McClay via bivio.com <user*32882100001@bivio.com> wrote:

My two cents' worth. I'm not associated with a brokerage firm, but I was curious several years ago after speaking with a TDAmeritrade representative when our club transferred stocks to a withdrawing member. I think I have this right.

The rules for transferring securities between brokerage firms are in the ACATS Transfer Guide. Here's a link, although this can be found on multiple websites. ACATS Transfer Guide (US brokerage account transfers) | IB Knowledge Base (ibkr.info)

"ACATS" stands for Automated Customer Account Transfer Service and is a system that facilitates the transfer of securities from one account to another at a different brokerage firm.

When securities are transferred from one brokerage firm to another, the account name and tax ID number on the transferring and receiving accounts must match. Thus, an investment club can transfer its account to another brokerage firm because that information will be the same on both accounts. But, it cannot transfer securities to a withdrawing member whose account is at a different brokerage firm because the identifying information on the two accounts will not match.

The identifying information need not match on the two accounts if the transfer is within the same brokerage firm--ACATS doesn't apply. That's why the process is that the investment club transfers securities from its account at Broker A to its withdrawing member's account at Broker A (different identifying information). The withdrawing member then transfers the securities from Broker A to Broker B (matching identifying information).

This is not a particular brokerage firm's rule but, rather, is a standardized rule to which all brokers adhere.

I do not know whether TDAmeritrade and Schwab are now considered a single broker or two.

From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Kevin Gillogly via bivio.com
Sent: Monday, February 8, 2021 3:32 PM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] TD Ameritrade withdrawal / transfer to a Schwab account

Lisa,

That is the form they sent over to me. Joe mentioned it is straightforward. It seems to be. I had the account rep walk me through the different lines of the form but what you said Lisa matches what their rep told me.

I think I am set.

Thanks to all who have responded. Much appreciated.

Kevin

On Mon, Feb 8, 2021 at 2:52 PM Lisa Robertson via bivio.com <user*14356800001@bivio.com> wrote:

I think you should ask for the form used to donate stock to a charity. There is no difference in the transfer process for TD Ameritrade if the brokerage firm the stock is being transferred to belongs to a charity or a person. I think the form is the same as well.

Lisa Robertson

On 02/08/2021 11:40 AM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:

Joe,

This is more for my understanding of things. I finally got through to TD Ameritrade Customer Support. He is telling me that the individual initiates the request. That seems risky in that they could choose different stocks than the one we identified to transfer. I see on TD Ameritrade where I can do an "internal transfer" inside TD Ameritrade.

It seems straightforward: select which stocks I want to transfer in the "internal transfer" section. Then transfer to a different account. Put the account number and person's name in the appropriate box. Send it off.

That is not what I am getting from the TD Ameritrade rep I am talking to now.

Can you clarify please.

Kevin

On Mon, Feb 8, 2021 at 1:54 PM Joe Farrell via bivio.com <user* 14102900001@bivio.com> wrote:

Prior to the announced merger between TD Ameritrade and Schwab, I processed two withdrawals with stock transfers at TD Ameritrade, one was timely and correct; the other was delayed because the withdrawing partner did not want to comply with the partnership agreement that she helped draft and had signed.

Our partnership agreement requires that withdrawing partners must open (or already have) a brokerage account with the same broker that the partnership uses. We will not transfer to another brokerage and will hold the stocks to be transferred until the account is opened and any dividends belong to the club until the transfer is complete.

Joe Farrell

Treasurer

Everyday Investment Club



On Feb 8, 2021, at 12:33 PM, Kevin Gillogly via bivio.com < user*9886100001@bivio.com> wrote:

Where is the secure communication link?

Kevin

On Mon, Feb 8, 2021 at 1:26 PM SB via bivio.com <user* 1595500001@bivio.com> wrote:

Consider using the secure communication area of the TDAmeritrade account. Response time has been about 24 hours and it is a lot less frustrating. Additionally, you get a record of what you were told.

s

On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user* 9886100001@bivio.com> wrote:

I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club

Susan,

Thank you for such clear and detailed information!

Jeri Morgan, Mutual Investors Group of Cheney WA

From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Susan McClay via bivio.com
Sent: Monday, February 8, 2021 12:40 PM
To: club_cafe@bivio.com
Subject: RE: [club_cafe] TD Ameritrade withdrawal / transfer to a Schwab account

My two cents' worth. I'm not associated with a brokerage firm, but I was curious several years ago after speaking with a TDAmeritrade representative when our club transferred stocks to a withdrawing member. I think I have this right.

The rules for transferring securities between brokerage firms are in the ACATS Transfer Guide. Here's a link, although this can be found on multiple websites. ACATS Transfer Guide (US brokerage account transfers) | IB Knowledge Base (ibkr.info)

"ACATS" stands for Automated Customer Account Transfer Service and is a system that facilitates the transfer of securities from one account to another at a different brokerage firm.

When securities are transferred from one brokerage firm to another, the account name and tax ID number on the transferring and receiving accounts must match. Thus, an investment club can transfer its account to another brokerage firm because that information will be the same on both accounts. But, it cannot transfer securities to a withdrawing member whose account is at a different brokerage firm because the identifying information on the two accounts will not match.

The identifying information need not match on the two accounts if the transfer is within the same brokerage firm--ACATS doesn't apply. That's why the process is that the investment club transfers securities from its account at Broker A to its withdrawing member's account at Broker A (different identifying information). The withdrawing member then transfers the securities from Broker A to Broker B (matching identifying information).

This is not a particular brokerage firm's rule but, rather, is a standardized rule to which all brokers adhere.

I do not know whether TDAmeritrade and Schwab are now considered a single broker or two.

From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Kevin Gillogly via bivio.com
Sent: Monday, February 8, 2021 3:32 PM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] TD Ameritrade withdrawal / transfer to a Schwab account

Lisa,

That is the form they sent over to me. Joe mentioned it is straightforward. It seems to be. I had the account rep walk me through the different lines of the form but what you said Lisa matches what their rep told me.

I think I am set.

Thanks to all who have responded. Much appreciated.

Kevin

On Mon, Feb 8, 2021 at 2:52 PM Lisa Robertson via bivio.com <user*14356800001@bivio.com> wrote:

I think you should ask for the form used to donate stock to a charity.  There is no difference in the transfer process for TD Ameritrade if the brokerage firm the stock is being transferred to belongs to a charity or a person.  I think the form is the same as well.

Lisa Robertson 

On 02/08/2021 11:40 AM Kevin Gillogly via bivio.com <user*9886100001@bivio.com> wrote:

 

 

Joe,

 

This is more for my understanding of things. I finally got through to TD Ameritrade Customer Support. He is telling me that the individual initiates the request. That seems risky in that they could choose different stocks than the one we identified to transfer. I see on TD Ameritrade where I can do an "internal transfer" inside TD Ameritrade. 

 

It seems straightforward: select which stocks I want to transfer in the "internal transfer" section.  Then transfer to a different account. Put the account number and person's name in the appropriate box. Send it off.

 

That is not what I am getting from the TD Ameritrade rep I am talking to now.

 

Can you clarify please.

 

Kevin

On Mon, Feb 8, 2021 at 1:54 PM Joe Farrell via bivio.com <user* 14102900001@bivio.com> wrote:

Prior to the announced merger between TD Ameritrade and Schwab, I processed two withdrawals with stock transfers at TD Ameritrade, one was timely and correct; the other was delayed because the withdrawing partner did not want to comply with the partnership agreement that she helped draft and had signed.

 

Our partnership agreement requires that withdrawing partners must open (or already have) a brokerage account with the same broker that the partnership uses.  We will not transfer to another brokerage and will hold the stocks to be transferred until the account is opened and any dividends belong to the club until the transfer is complete.

 

Joe Farrell

Treasurer

Everyday Investment Club

 

On Feb 8, 2021, at 12:33 PM, Kevin Gillogly via bivio.com < user*9886100001@bivio.com> wrote:

Where is the secure communication link?

 

Kevin 

On Mon, Feb 8, 2021 at 1:26 PM SB via bivio.com <user* 1595500001@bivio.com> wrote:

Consider using the secure communication area of the TDAmeritrade account. Response time has been about 24 hours and it is a lot less frustrating. Additionally, you get a record of what you were told.

s

 

On Mon, Feb 8, 2021 at 1:05 PM Kevin Gillogly via bivio.com <user* 9886100001@bivio.com> wrote:

I am sitting on hold with TD Ameritrade (over a 90 minute
wait currently). I tried the virtual assistant and the local
branch but the former was not helpful and the latter was a
big circus which got me back to the national 800 number.

So while I am waiting here are my questions. I will process
a full withdrawal next week. We are going to transfer
appreciated stocks (two) and the remainder I will send to
her in the form of a check via certified mail. Withdrawing
partners does NOT have a TD Ameritrade account but she has a
Schwab account. Schwab has acquired TD Ameritrade.

Has anyone here done a stock transfer from TD Ameritrade to
a Schwab account?

Were there any fees involved?

Should I ask withdrawing partner to open a TD Ameritrade
account to facilitate?

Any questions I should ask when I finally get a live person?

Thanks

Kevin Gillogly
Treasurer
Montgomery County (MD) Model Investment Club