TD Ameritrade buying Scottrade

[snafu]

Curiosity leads me to ask why move from TD Ameritrade brokerage? Are the majority of your IRA, ROTH brokerage holdings Vanguard or Fidelity?

Do you need Brick & Mortar bank for regular transactions or will an electronic institution serve your needs with regular deposits and payments from phone and computer? I was at a bank earlier this week, 1st time in a few years as I needed to exchange a significant sum of foreign currency left over from travel earlier in the year.

[Mr-Pulse]

Thank you for your reply. My responses are interleaved below.

Curiosity leads me to ask why move from TD Ameritrade brokerage?

Every time a bank or brokerage (of which I have had an account) has been bought out there are changes against my best interest. Already I am losing my banking option, which to me is significant. I foresee more of these changes, e.g. added fees, increased minimum balances, etc. in the future. So, I am embracing change.

Are the majority of your IRA, ROTH brokerage holdings Vanguard or Fidelity?

Nope. None of my holdings. Various stocks and mutual funds. I suspect I will have to sell off the mutual funds no matter where I transfer, but I will wait until January so as not to miss out on capital gains distributions.

Do you need Brick & Mortar bank for regular transactions or will an electronic institution serve your needs with regular deposits and payments from phone and computer?

Electronic is best for me. I go to a brick and mortar place perhaps 4 to 6 times a year. Speaking of which, I will be going to one today to transfer funds from Scottrade Bank. :-(

[Thrif-t]

So I'm bumping this thread back up. Did anyone get an email from TD Ameritrade about the change over happening this month? I just finally read it and Monday I gotta get on the ball! We have small Roth IRA's here for the kids and a small Roth for me; I thought i was going to use it to day trade but I just never found the time to get into it like I thought I would.

Maybe I was misinformed about Scottrade but I don't feel they had all those fee's like TD Ameritrade does. They have monthly fee's for certain account balances. And you only have until Feb 16 to roll your money out of there or it will cost $75 to do after the 2/23.

My work 401k is with Schwab and there is a local office not too far from me so I'm going to see about doing a rollover to them. Does anyone have experience with Schwab? I like them for my 401k and always see good things written on them. Just wondered what the rest of you were doing in regards to the changeover?

[QuarterMillionMan]

I got an email today from TD Ameritrade that I'm approved for a margin account when I already had it with Scottrade. At this point I just hoping all of my funds got transferred over from Scottrade to TD Ameritrade. I just logged into TD Ameritrade and it looks good, a different though so it will take a little getting used to the new interface with TD Ameritrade.

[bennkar]

I went on yesterday and so far wasn't thrilled, looked like it is set up more for active traders than for people that buy occasionally and hold. Though I will give it a month at least before I declare this a failure in my eyes.

To my surprise my 70+ y.o. mother had her accounts transferred over and is already saying she likes the new interface. I am very surprised.

[disneysteve]

I went on yesterday and so far wasn't thrilled, looked like it is set up more for active traders than for people that buy occasionally and hold. Though I will give it a month at least before I declare this a failure in my eyes.

I haven't logged into the new site yet. I did log into my mom's Scottrade account the other day to print her 1099 but that was through the old interface. I'll have to check out the new one. I hardly ever go into my Scottrade accounts as I don't actively do anything with them. One is my SEP-IRA so I go in once a year when I make my annual contribution. I'll need to do that shortly as soon as my accountant tells me how much I can put in for 2017.

[Thrif-t]

I need to do this too!! I transfered my Ira and my minor son's Cutodial IRA out to Schwab. Wanted to roll my girls over to Schwab but they still had custodial accounts at Scott and I need them to roll over into their names as they are adults now, only THEN we can roll over to Schwab.

I'm not interested in staying w/TD Ameritrade. Unless I read wrong I think they charge monthly fee's for certain balances. I orginally opened Roth IRA's for the kids to put in their paper route christmas bonuses and there was no minimum amount. We didn't use it to trade, just to park funds. I can do the same with Schwab. Plus Schwab had some kind of promo going that if we rolled to them we could have free trades with them for as long as we had been customers with Scottrade, so we have 15 years of free trades.

My 401k is thru Schwab at work. I can see as we age I'll probably roll our Vanguard money into Schwab too just to have one stop shopping. Plus they have a local office in our area. So ya, not interested in staying with TD Ameritrade.

[QuarterMillionMan]

Got an email today from TD Ameritrade and noticed my acct number is different from my Scottrade acct number. However, I downloaded the TD Ameritrade app to my iPhone, entered my Scottrade acct number and password and got into the TD Ameritrade acct. I deleted the Scottrade app.

[Thrif-t]

So why do I get an email notification that a reply has been posted and then I come here and it's not here? I have the email there was a reply, and it didn't look like it should've been deleted because it was offensive or anything?

I find this happens a lot. I get when it's spam.

But this is the response that my email says is here and it's not:
Here is the message that has just been posted:
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Thank you for your reply. My responses are interleaved below.


---Quote (Originally by snafu)---
Curiosity leads me to ask why move from TD Ameritrade brokerage?
---End Quote---
Every time a bank or brokerage (of which I have had an account) has been bought out there are changes against my best interest. Already I am losing my banking option, which to me is significant. I foresee more of these changes, e.g. added fees, increased minimum balances, etc. in the future. So, I am embracing change.


---Quote (Originally by snafu)---
Are the majority of your IRA, ROTH brokerage holdings Vanguard or Fidelity?
---End Quote---
Nope. None of my holdings. Various stocks and mutual funds. I suspect I will have to sell off the mutual funds no matter where I transfer, but I will wait until January so as not to miss out on capital gains distributions.


---Quote (Originally by snafu)---
Do you need Brick & Mortar bank for regular transactions or will an electronic institution serve your needs with regular deposits and payments from phone and computer?
---End Quote---
Electronic is best for me. I go to a brick and mortar place perhaps 4 to 6 times a year. Speaking of which, I will be going to one today to transfer funds from Scottrade Bank. :-(
***************