OMG, the Forced Move from Scottrade to Ameritrade is Cruel and Unusual Punsihment

[erkevin]

After using the same trading and portfolio-management platform for over a decade, this is painful. (although I know in a few weeks, it will be familiar and easy)

 

[Sunset]

No it won't.

TD is complex, lots going on.

I did transfer over long ago, and got bonus paid by TD for the transfer, rather than wait and not get a bonus.

 

[ExFlyBoy5]

My Dad's stuff is (was) with Scottrade and I really don't like the platform. I am going to give them about a week to sort through the chaff and then move it all over to Vanguard. I would like my retirement life to be easier, not more difficult!

 

[upset264]

I also transferred to TD early and got paid $600 to do it.

But I really don't like TDs website and overall way of doing things. I have to keep it there a year or they'll take back the cash bonus but my plan is to transfer it to Fidelity when the year is up. Then I'll be consolidated at Fidelity and Vanguard.

 

[wrigley]

Silly question..........does Fidelity charge a fee for that?

Mike

 

[nwsteve]

Silly question..........does Fidelity charge a fee for that?

Mike

Nope and depending on size of balance may even pay or at least provide some free trades. But you got to ask for it as the value comes and go

 

[LOL!]

It is all about familiarity. I actually like TDAmeritrade better than Vanguard and better than Fidelity where I also have accounts.

 

[erkevin]

I figured out the X-Ray (like Scottrade's My Portfolio) and was able to set up a portfolio that includes equities from other brokerages. Now, I can track everything in one place.

Thank God I am retired so i have the time to deal with this kaka!

 

[mamadogmamacat]

I have not tried it yet today. What is the difficulty exactly? Scottrade was my first individual stock trading experience, and I recall it taking a little while to get used to that website also. So hopefully it will be as you say just a matter of taking the time to get familiar with it.

 

[mamadogmamacat]

just logged into it Agree it is what i would call clunky, not streamlined with everything on one page like Scottrade was. It opened on "calendar" and therefore had a list of securities that were not mine, just the ones reporting earnings today apparently. It was easy to figure out the tabs, but would be nice to see my holdings and watch lists (now called something else altogether on TD) on the same page. Will likely be moving over to Vanguard or Fidelity also at some point

 

[splitwdw]

It is all about familiarity. I actually like TDAmeritrade better than Vanguard and better than Fidelity where I also have accounts.

+1
Right now there's an alert posted on TD that there is high phone traffic due to the Scottrade clients.
Give TD a chance before you start complaining, it's the first day. Change can be a good thing!

MAMADOG, On the log in page you can choose which page to show when you log in. Click on "Choose a start page". A watch list is still called a watch list on TD. When you go to the watch list page, it shows your current positions plus all of your watch lists

 

[copyright1997reloaded]

I've been an Ameritrade client since before Ameritrade (when I was a Datek online client). I also have accounts at Schwab and Fidelity.

It's all what you are used to, and I use the Ameritrade tools far more frequently than either Schwab or Fidelity.

Ameritrades thinkorswim application has amazing capabilities, with complexity to match. There is also a Java based app called Trade Architect, and you can also just trade online using their web interface.

Ameritrade also provides gain/loss tracking using Gainskeeper, which I prefer over the Schwab and Fidelity equivalent.

Having said this, changing over is always difficult and frustrating. That was even true way back when Datek was bought by Ameritrade (for both their client base AND their technology platform), and I know it took me time to get used to the Ameritrade platform.

 

[ncbill]

Are they still charging a $175 fee to move to another brokerage?

 

[LOL!]

Are they still charging a $175 fee to move to another brokerage?

I've had an account at TDAmeritrade / TDWaterhouse for almost 25 years. They have never charged me to move money to another firm nor to close any of my accounts.

I think the $175 is wrong and may have come from a typo over at bogleheads.org. I see $75 to close an account for non-Apex clients. Anyways, we are Apex level and there no charge for me to close an account.

 

[copyright1997reloaded]

Are they still charging a $175 fee to move to another brokerage?

https://www.tdameritrade.com/pricing/brokerage-fees.page

"Outbound full account transfer" is $75. (non-apex)

This doc shows both non-apex and apex:
https://www.tdameritrade.com/retail-en_us/resources/pdf/TDA100545.pdf

ETA: Apex outbound account transfer is free.

Apex requirements:

Qualifying for Apex status is straightforward. TD Ameritrade requires 5 or more trades per month over a rolling three-month period. That's a total of 15 trades per quarter. Investors who don't trade this often can alternatively maintain an account balance of at least $100,000.

source: https://www.brokerage-review.com/online-broker-reviews/ameritrade-apex-account-review.aspx

 

[gauss]

Better Ameritrade than Ameriprise.....

 

[4legsgood]

I had multiple accounts at both Scottrade and TDameritrade, and it looks like the transfer of all Scottrade accounts was successful. I was kind of expecting a glitch or two. I was even able to import tax info from a former scottrade account into turbo tax this morning.

One goodish thing about TDameritrade vs. scottrade, they do have some zero trade fee etfs, though not my favorite etfs.