TD/Schwab Merger – You Will Be Receiving Two September Statements

Due to the recent merger of TD Ameritrade and Charles Schwab, you will be receiving two September statements for each account that transferred to Schwab.

The TD statement will show a $0 balance and outline the transfer of your positions out of TD. Not to worry- your full account balance and positions will be available on your Schwab statement. If any residual dividends or interest payments were paid to this account, they will transfer to Schwab automatically. You will continue to receive two statements until there is no more activity in the account.

The Charles Schwab statement will show your full account value and detail the transfer of your securities into Schwab. This is the statement you will be receiving from now on.

In conclusion, don’t be alarmed if you see a $0 statement from TD. If you have any questions, please feel free to reach out to your advisor.

Disclosure: These materials have been independently produced by Focused Wealth Management. Focused Wealth Management 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. Focused Wealth Management 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.”