Broker Check

September Newsletter 2022


August 31, 2022

“…Change Can Be Great!”

The advisor transition from the TD Ameritrade Institutional client custodial and trading platform to the Charles Schwab Institutional platform appears to be moving ahead quite smoothly. Laura and Helen are busy preparing for the operational part of the move to Charles Schwab; and Steve and I are exploring the available technology to allow us to efficiently manage all client portfolios. Undoubtedly, there will be a few hitches along the way, but we are excited about the increased efficiencies that will be available to all of us. We have studied what Charles Schwab has presented to us in the areas of account administration and trading capacity and we believe that they will be superior to TD Ameritrade in offering both the advisor and our clients the needed tools to be our custodian and broker-dealer.  For example, Charles Schwab will have account reporting features built into their website, all data will be transitioned with high level encryption (think federal reserve level), processing of forms and new account applications will be streamlined, thus processing times will be cut down.  As well, as a check deposit feature which you can use on your phone.  Lastly, the ongoing services provided by Charles Schwab will not include any increased cost to our clients.

Recently, Charles Schwab Institutional and TD Ameritrade Institutional held a joint two-day conference designed to update both TD Ameritrade advisors and current Charles Schwab advisors on the overview of transitioning to Charles Schwab as a single custodian.  The sessions were informative regarding the transition process and what actions advisors will need to make to transition to Charles Schwab.  Currently, we are focusing our attention on all aspects of migrating all client accounts to the Charles Schwab platform in 2023.  Charles Schwab has a transition program that has several phases.  The current steps focus on client information and account preferences.  All clients need to update information on the TD Ameritrade ( website if they have not done so already.  Charles Schwab will pull information on client beneficiaries, mailing preferences, contact email, phone numbers and addresses from this website.   

It is important if you haven’t done so already, (we have communicated this in our monthly letters and by email over the past few months) to please go to to review and/or update your contact information as soon as possible.  Additionally, you should check the security preferences and update your login to two-factor authentication. 

Here are the detailed steps:

  1. Log on to: (with your username and password) If you do not know your username and password, please contact our office at 970-403-1234 for assistance.
  2. Go to the My Profile tab on the top menu, to update personal information for each account that is held at TD Ameritrade.
  3. Follow the dropdown Security and Preferences tab to the communication preferences, click on this arrow and you can view how you receive documents.
  4. If a change is required, click on the account title and a screen for editing will appear. Make changes as needed.

You can contact Laura or Helen at (970) 403-1234 to assist you. Completing this will reduce transition paperwork which will be necessary if this step is not completed. Once we have transitioned as a firm to Charles Schwab as the custodian of record, sometime in 2023, the new client website will be called We are asking all clients to take this step as it will make the transition easier for all involved.

After you have updated your information on the next important item you will see from Charles Schwab is a letter that is anticipated to go out in the first half of next year announcing the process for converting to Charles Schwab as our custodian of record for all client account(s).  We will receive this communication prior to you and we will send out our own advance communication with a summary of the letter and what you may or may not need to do after receiving Charles Schwab’s communication. 

Next on our agenda is to attend the Charles Schwab’s annual conference scheduled for the first week of November which will be held in Denver this year.  Laura Vaughan, our Firm Administrator, will be attending as a majority of the items for a smooth transition will be completed through the operations department.  We expect this to be an event to continue to

foster the process of the migration and allow TD Ameritrade Advisors a firsthand experience with the Charles Schwab platform.  We will report all relevant information to our clients as it becomes available in upcoming client letters.  Please feel free to call our office with any questions you may have about the upcoming transition.

Concerning current market activity, Fed Chairman’s “pain” speech from last Friday continues to rattle the markets, with some in FEAR mode as the day closed down significantly (S&P 500 down over three percent and the NASDAQ down almost four percent).  Our aggregate managed portfolio (roughly 50% equities and 50% income) did not escape the “pain”, reflecting unrealized value declines of just under 1.5 percent. Chairman Powell is expected to stay vigilant as the “Battle against inflation remains uncertain”. Our portfolio of well-managed, quality positions remain poised to ride-out the storm to experience future long-term gains and to benefit from current income through cash flows from dividends and interest payments. It appears to us that inflation may have peaked and will now moderate. From a portfolio standpoint, we recently were able to add quality fixed income positions to many accounts paying over five percent interest and maturing in 2025. We do expect the “wild ride” to last at least through the end of the year; possibly moderating next year as Powell’s efforts take hold.

Please call the office if you have any questions regarding the migration to Schwab’s systems or should you need assistance with the management or planning for your accounts.



Intelligent Investment Management, LLP