TD Ameritrade / Schwab Updates:

Important Updates - Charles Schwab 

Service Team:

Please be advised our service team recently updated from PWG9 to PWG11 (Premier Wealth Group 11). If a form asks for your service team, please indicate PWG11 (forms indicating PWG9 will not be considered NIGO in the immediate future). 

Contact Information:

If you need assistance with the Schwab Advisor Center (SAC) (issues with the onboarding tool, questions on where to find information, etc) please contact Advisor Platform Support: 1-800-647-5465. 

If your client needs assistance navigating their online portal (eSigning requests sent via the digital workflows, updating TWEs, updating beneficiary information, etc) please have them contact Schwab Alliance Support: 1-800-515-2157.

For service-related issues and escalations, please contact your FIA Relationship Manager. 

Cashiering Updates: 

TWEs (Tax Withholding Elections) are set at the account level instead of transactionally. Please confirm your clients TWEs via the Move Money screen in SAC prior to submitting distribution requests. Please contact your FIA Relationship Manager for assistance with updating your clients TWEs. The easiest and quickest way to update that information is via your clients Schwab Alliance login, but there are other options for clients who don't use Schwab Alliance. 

Schwab requires full settlement of funds before we can distribute them. We refer to this as "Trades + 2" in most instances (mutual funds are the exception), which means we won't be able to distribute funds until two days after we've sold them, not including the date of the sales. 

Updating a bank account at Schwab can take up to 7 days because they have a pre-note process that confirms the client's bank account is able to send and/or receive funds. Schwab does not accept expedite requests for adding bank accounts. Please contact your FIA Relationship Manager for more information. 

ACH In requests (electronic contributions) pull from the client's bank account the day before we request them. Please keep this in mind when requesting an ACH In with your FIA Relationship Manager. When requesting a same day ACH In, we must schedule for the following day in order for the funds to pull same day. 

60-day Rollovers cannot be processed via ACH In. The best practice is to have the client write a check indicating the deposit information in a separate letter of instruction, or on the memo line of the check. This should include "60-day Rollover" and the client's account number. 

Mailing Addresses (choose the region closest to where the sender is for faster processing):

East

Regular Mail:
Charles Schwab & Co., INC
P.O. Box 628290
Orlando, Florida 32862

Overnight Mail:
Charles Schwab & Co., INC
1958 Summit Park Drive, STE 500
Orlando, Florida 32810

West

Regular Mail:
Charles Schwab & Co., INC
P.O. Box 982603
El Paso, Texas 79998

Overnight Mail:
Charles Schwab & Co., INC
1945 Northwestern Drive
El Paso, Texas 79912

Monday Morning Calls:

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