We’ve outlined details (below) regarding the upcoming TD-Schwab migration happening on Sept. 2.
- Source notes will be added in Salesforce to known impacted institutions by the Technical Support team.
Overview
From Sept. 2-6, eMoney will convert the existing TD Ameritrade data feed to Charles Schwab’s data feed – which will include Representatives and Account Codes. eMoney has been working closely with TD Ameritrade and Schwab to ensure advisors have a smooth transition with minimal impact to their businesses. Additional information and resources are below, including timing, impact, and client communications.
Timing
- Saturday, Sept. 2: TD Ameritrade data feed and TD Ameritrade Integration will no longer be available.
- Sunday, Sept. 3 – Monday, Sept. 4:
- Advisor users to be migrated to Schwab.
- All connections currently under TD Ameritrade via Direct Feed will be converted to Schwab Institutional via Direct Feed – including Representative and Account codes.
- Note: TD Ameritrade integrations will NOT work after the conversion. Clients will be required to take action. More details are below.
- Tuesday, Sept. 5 – Wednesday, Sept. 6: Blackout period will occur due to conversion taking place over the Labor Day weekend.
- Thursday, Sept. 7: New values are expected to show after the Schwab load completion and refresh.
This migration may affect additional eMoney data sources potentially requiring users to unlink and relink impacted connections.
- Source notes will be added in Salesforce to known impacted institutions by the Technical Support team.
Integration Impact
eMoney Clients
- On Sept. 2, the TD Ameritrade integration will no longer work/be accessible.
- On Sept. 6, these users will be required to activate their Schwab Advisor Center integration and relink their clients through the Schwab integration using this guide.
- Once clients are linked through the Schwab integration, Schwab statements, tax documents, and trade confirmations will display in eMoney and Client Vault.
- NOTE: The TD Ameritrade Integration tile will remain visible on the integrations page for two weeks after shut-off and will be removed at the end of the second week. While visible, the tile will include a banner with language that states the integration is not active in an effort to reduce calls to support.
End-users
- End-users previously linked through the TD Ameritrade integration will no longer see a TD Ameritrade folder in their Client Vault.
- Once they are relinked (by the advisor) through the Schwab integration, a Schwab folder will be visible that will include Schwab statements, tax documents, and trade confirmations.
- Once TD Ameritrade disables the integration, the vault folder will still be visible but when the user attempts to access the folder they will receive an error message.
- The Client Vault folder will be removed after two weeks.
Connections Impact
eMoney Clients
- All current active subscriptions (connections) to TD Ameritrade–via Direct Feed will be linked to a new Schwab Institutional – via Direct Feed connection. Charles Schwab has provided mapping documents for old to new rep IDs for our mutual clients, which is how we are mapping the changes.
End-users
- Accounts previously aggregated through “TD Ameritrade (Client Access)” and “TD Ameritrade Institutional (Investor Login)” will be available through “Charles Schwab US.” Accounts will not be converted over automatically.
- To preserve account history, advisors will need to unlink and relink through Charles Schwab US. See “All About Connections” in Help section on EMA.
Client Communications
Retention Marketing is working to communicate the upcoming transition to the impacted users.
- Aug. 23: Blog post
- Aug. 28: Callouts about this conversion were included in Product Release notes.
- Aug. 31: Financial Feed message added for all EMA users
- Sept. 7: Email to be sent to impacted users.
Additional Resources
Questions
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