Is Schwab Still Having Problems | How Is Schwab Doing (Schwab Update Q1 2024)
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- Опубліковано 20 чер 2024
- The Wall Street Journal said 2023 was Schwab's "year from hell" & Schwab CEO Bettinger described it as “the most challenging year in his career at the company" so in today's highly-requested update, here's what we'll cover:
1. How is Schwab doing/ is Schwab still having problems?
2. What did Schwab do to survive their “year from hell”?
3. What are Schwab’s remaining challenges?
📢 Learn all about bond investing & how to build a bond portfolio while rates are still high!
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How To Build A Bond Ladder: • How To Build A Bond La...
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*Sources can be found in first pinned comment
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******Learn all about bond investing & how to build a bond portfolio while rates are still attractive!
Bond Beginners (our foundational-level bond course): www.diamondnestegg.com/bond-beginners
Bond Masters (our intermediate-level bond course): www.diamondnestegg.com/bond-masters
Or get both & save $100: www.diamondnestegg.com/home#_paa2isucf
Join our super-supersaver membership for regular market updates & monthly live member Q&As ua-cam.com/channels/nexoc6tvesvcCEzZhmI-Ag.htmljoin
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WATCH NEXT
Our Bond Courses vs UA-cam Membership | Which Is Right For You: ua-cam.com/video/H5h4Eyh0hjo/v-deo.html
Bond Beginners Course Sneak Peak | I-Bonds vs TIPS: ua-cam.com/video/uXPzbje1g2E/v-deo.html
Bond Masters Course Sneak Peak | How To Build A Bond Ladder: ua-cam.com/video/p90IDmXn19s/v-deo.html
>>>>>>>>>>
Here is the overview for Bond Beginners:
1. Bond Basics
What A Bond Is & How A Bond Works
Why Invest In Bonds
New Issue vs Secondary Market Bonds
Interest Rates & Bond Prices
Current Yield & Yield To Maturity
Always Remember This!
Buying At Par, Above Par & Below Par
Different Types Of Bonds
Wrap-Up
2. The Risks Of Bond Investing
Seven Key Bond Risks
Credit Risk
Interest Rate Risk
Reinvestment Risk/Call Risk
Inflation Risk
Liquidity Risk
Currency Risk & Country Risk
Bond Risk Mitigation Strategies
Wrap-Up
3. US Treasuries Overview
What Are US Treasuries
Why Invest In Treasuries
Where Can You Buy Treasuries
How Are Treasuries Taxed
Wrap-Up
4. Treasury Bills
What Are Treasury Bills (T-Bills)
When Do T-Bill Auctions Happen
Where Should You Buy At Auction
Auto-Roll When Buying At Auction
Where To Find Recent Auction Results
High Rate vs Investment Rate
Reopening Auctions
Cash Management Bills (CMBs)
Buying & Selling On Secondary Market
Wrap-Up
5. Treasury Notes & Bonds
What Are Treasury Notes & Bonds
When Do Auctions Happen
Buying Treasury Notes & Bonds
Auction High Yield vs Interest Rate
Floating Rate Notes (FRNs)
Treasury Zeros (STRIPS)
Wrap-Up
6. TIPS (Inflation-Protected)
What Are TIPS
When Do TIPS Auctions Happen
Nominal vs Real Yields
Negative Yields
How Do You Adjust TIPS For Inflation
Taxes On Phantom Income
Secondary Market Liquidity
Wrap-Up
7. I-Bonds (Inflation-Protected)
What Are I-Bonds
How Does I-Bond Interest Work
I-Bonds vs TIPS
The Annual I-Bond Limit
Wrap-Up
8. Agency Bonds
The Universe Of Bonds
What Are Agency Bonds
How Are Agency Bonds Taxed
Treasuries vs Agencies
Who Might Want To Consider Agencies
Yield-To-Call & Yield-To-Worst
Where Can You Buy Agency Bonds
Wrap-Up
9. Municipal Bonds
Our Bond Universe Gets More Complex
What Are Municipal Bonds
How Safe Are Munis
How Are Munis Taxed
The De Minimis Rule
Social Security & Medicare Premiums
Treasuries, Agencies & Munis
Who Might Want To Consider Munis
Wrap-Up
10. Corporate Bonds
Our Bond Universe Is Complete
What Are Corporate Bonds
How Safe Are Corporates
Corporate Bond Hierarchies
Five Key Features Of Corporate Bonds
How Are Corporates Taxed
Treasuries vs Corporates, Etc.
Who Might Want To Buy Corporates
Wrap-Up
>>>>>>>>>>
Here is the overview for Bond Masters:
1. Stocks vs Bonds
Historical Performance
Are Bonds Really Less Volatile
Why Invest In Bonds
Accumulation vs Decumulation
Allocation of Stocks vs Bonds
Wrap-Up
2. Which Bonds Might Be Right For You
Treasuries & Other Types of Bonds
Nominal vs Real Yields
Inflation vs Non-Inflation-Protected
Taxable vs Tax-Advantaged Accounts
Wrap-Up
3. Bond Ladders & Other Bond Strategies
Normal vs Inverted Yield Curve
What Is A Bond Ladder
5 Important Bond Laddering Questions
Laddering When Rates Are Rising
Laddering When Rates Are Falling
Laddering When Rates Are Uncertain
What Is A Bullet
What Is A Barbell
Wrap-Up
4. Holding to Maturity vs Selling Early
Why Hold to Maturity
When To Sell Early Before Maturity
Tax Implications Of Selling Early
Wrap-Up
5. Individual Bonds, Bond Funds, Etc.
Why Buy Individual Bonds
Why Buy Bond Funds
Bond Fund Considerations
Key Bond Fund Concepts
CDs vs Treasuries
Other High-Yield Investments
Wrap-Up
6. Our B.E.S.T. Model Portfolios By Age
Our B.E.S.T Model Portfolios By Age
Model Portfolios In The Industry
B.E.S.T Model Portfolio Difference
How Much Do You Need To Retire?
How I Use The Rules of 100, 110, & 120
B.E.S.T Model Portfolios (20s)
B.E.S.T Model Portfolios (30s & 40s)
B.E.S.T Model Portfolios (50s & 60s)
B.E.S.T Model Portfolios (70s+)
Wrap-Up
7. The Decumulation Phase
What Is The Decumulation Phase?
Bear Markets & Recessions
What Can You Do In Bad/Bear Markets
Decumulation Tax Considerations
The 4% Rule
The Bucket Strategy
The Flooring Approach
Jen’s Bucket Strategy With A Twist
Wrap-Up
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SOURCES FOR TODAY'S VIDEO:
finance.yahoo.com/
pressroom.aboutschwab.com/press-releases/press-release/2024/Schwab-Reports-First-Quarter-Results/
www.wsj.com/finance/banking/charles-schwab-2024-outlook-stock-2c63db3e
www.aboutschwab.com/media
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Thanks for visiting our personal finance channel! We hope this content will help fast-track your financial journey! Everyone's financial journey is different. Please note that: 1) there are questions/ comments which I will not be able to answer without fully understanding your financial, personal & other circumstances & 2) we will not ask you to call us or send us money in the comments on this channel or any of our other social media accounts, so if you see comment(s) along those lines, it is most likely spam - PLEASE DO NOT ENGAGE WITH SPAMMERS OR GIVE OUT YOUR PERSONAL INFORMATION FOR YOUR OWN SAFETY.
Stayed with Schwab after the TD transfer.... biggest reason, Schwab customer service is miles better than TD ever was.
totally agree
I have been a Schwab customer for decades, but only recently decided to see what cash in my Schwab accounts was yielding; I was disappointed to see that the yield at Schwab bank was only 0,48%. My bad, not theirs, but I did transfer that cash to a Schwab MMF yielding a bit over 5%. It's important to never become complacent about one's investments!
Schwab has been my brokerage provider since 2018. They've treated my well and I have no reason to leave. Thanks for the update. I like your investigative reporting! 👍
Nothing is going to happen! People just panicked! My former boss has been with Schwab over 35 yrs
@@jaxjaxvang4910Ditto, I’ve been with Schwab for more than ten years and couldn’t be happier. Their customer service is the best.
I’ve been with Schwab for over 30 years. Never had a problem with them. Service is always excellent. I’ve referred dozens of people to them over the years.
Same. I’ve used Schwab as my brokerage for a while. Haven’t had any problems with the brokerage
But that said they could improve their user experience especially in the mobile app
Ex TD Ameritrade here. I like Schwab. I’m staying. I like their research and market news. Pretty good website too.
Moved over to Schwab from TDA. All agents in the various Schwab divisions have been very helpful and professional. I have equities, T-bills & have some $$ in SNVXX, Schwab Gov. $$ - which is yielding over 5%.
From prudential to fleet to quick Reilly to Scot trade to td America to Schwab…and I never did nothing…they just kept moving me due to buy outs. Schwab is very good as they all were. I’ll stay here unless….
I was a TD customer going back to their early days and was a bit nervous about the move to Schwab. It was handled well and I am extremely pleased with them. I didn't buy into the bull about Schwab going down. Instead I bought a lot of shares when it dropped significantly and now I'm up 45%. Schwab's platform is great and I am thrilled to now be with them.
Ex TD to Schwab. Closed all of my accounts and moved to Fidelity. The auto-rollover feature is the biggest reason, along with much better cash sweeps.
Big mistake. Fidelity is a nepo disaster internally. Good luck with that. Schwab is #1.
Schwab has a great product. Im only with them for a little over a year now but am very happy with their personal service and web platform. The folks who sit in my local office are great as well. Rare i feel this way about any company or service these days.....
Already had a couple of accounts with Schwab and was also a TDA customer from Scot trade deal. We have stayed with Schwab. Things move a little slower at Schwab but not enough so to give us a problem. We like the MM rates averaging around 5.2%...thats where we park all cash between trades. We are older (80's) mostly in treasury's, $0 in stocks right now and no plans to buy stocks any time soon. Really like being able to switch seamlessly between accounts with Schwab. Will most likely stay with Schwab unless see some storm clouds on the horizon. Will keep our eyes/ears open as next year or two does not look all that great to us. We had SCHW @ $49.50 and sold it @$69.50...no regrets. We enjoy your videos. Thanks...!
Schwab would do well to have a viable cash sweep value. They offer nothing compared to fidelity
Yes, please keep us updated. I am an ex-TD Ameritrade customer. I'm sticking with Schwab. I also have a Fidelity account.
Jennifer, the quality of your financial videos is unmatched on YT. Great job as always!
I love Schwab! One of the best brokerage around! I kept majority of my cash and investments and no plan to change!
I just moved all of my money to Vanguard and Fidelity due to Schwab's low interest rate on cash.
I was shocked too at the low rate on cash of .4% in the settlement or sweep acct. Fid and Vanguard are much higher.
I have my cash hoard in Schwab’s money market fund, yielding ~5% .
@daralynx2 yes, but you have to sell out of the money market in order to buy securities. Vanguard 's settlement fund also yields 5% and you can directly purchase securities using the proceeds.
TD account holder forced over to Schwab. I never opened an account with TD either & became an account holder via acquisition. I liked the TD website better than Schwab, but getting used to it. I'm happy Schwab kept Think or Swim which is the main reason I'm keeping an account with Schwab. I was very unhappy that my full TD transaction history didn't switch over to Schwab and the slowness of issuing 1099s for 2023 - that caused me some pain. I'm contemplating a move elsewhere, but haven't started yet. This video may provide some motivation.
My friend and I are being forced to switch from TD to schwab. We are not happy. The TD mobile app was way better. I liked that I could customize columns and schwab does not offer as many options. Also the web version was better on TD. The Income Estimator on TD was great. Shawb is nothing in comparison. I do have a fidelity account, I like the web version but the app is horrid. Too hard to move quickly if one has a lot of positions. Tried the Think or swim and it is ok, not as good as TD on mobile or web. Disappointed. Thinking about leaving if I can find a good place to go with a great mobile app as I do most of my trading while not in front of a computer.
I totally agree that the TDA website was more functional and more flexible. I would go back in a heartbeat if I could. I also prefer Fidelity and e-trade to Schwab
The main reason I stay is because of think of swim. Otherwise, I’ll leave.
@@mariangiallombardo9754I'm in the same camp. If you find something else or have recommendations, please post.
I was a TD customer that became schwab. I am staying put with my nearly 7 figure account at Schwab for now.
How do you protect your account if in case fraud or being hacked? Having such amount in a brokerage is important having safety measures.
@@marcopolo3109Schwab uses 2FA which I wish more financial accounts used. At TD ameritrade it was just a password but they would deactivate your account after a few wrong password attempts. I had that happen to me and I was forced to change my user id and password.
Yes! Please provide more updates regarding Schwab!
1’m staying with Schwab and looking forward to this weekend when TD is merged and I have all my accounts in one place. Since I have used both for 15 or more years, I would say it’s an ideal combination. TD equities trading is excellent due to TOS and Schwab setup is excellent for Fixed income.
I remain with Schwab since transferring funds from TD. I was impressed with the FHLB 20 year 6%. Of course it is callable, but not for 6 months! That's like holding a 6 month CD paying 6%..
Yes, please keep us updated on this topic.
Thanks..I'm staying with schwab former TD customer...hanging in there..
Thanks for sharing!
I have several accounts with Schwab. And I recently opened a backup checking account with them. I see no reason to leave them.
Yes, please update us on Schwab again soon. One interesting note for self-employed folks - re: the Secure 2.0 Act: Schwab now offers a Solo Roth 401k however Fidelity does not (yet) as of last week. And neither offer a Roth SEP IRA (yet).
Schwab is just awesome! Customer service is #1
I liked TDAmeritrade. It seemed easier navigate than the more klugy Schwab. But for now I am staying.
We were in TDA, now Schwab. What I don’t like is our joint account is accessible from each of our IRAs. It causes the amounts to be combined on first glance, then you have to open each account to see the separate totals of those accounts. Maybe I’m missing something I should do. I would have preferred 3 separate accounts to access individually.
We have been with Schwab for 38 years. Love Schwab, going nowhere. Nice video, thanks.
Thanks for your sharing!
Schwab customer service is Excellent!
Thanks for the update.
Yes please provide more updates regarding Schwab
Moved the TD investments to another brokerage before Schwab finalized the deal, which essentially just about halved the risk if Schwab were to collapse. Your time to time looks at Schwab are much appreciated. Thank you!
I appreciate you keeping me Informed about Schwab. It's important to me.
Thank you for this comparison and update on Schwab. I'm a TD Ameritrade transfer. Yes, please continue to monitor Schwab - at least until you and the WSJ indicate comfort that Schwab is fully recovered. One thought: please compare Fidelity financials with Schwab's. Thank you~
I am an ex-TD and have stayed with Schwab. I also have a Fidelity account.
I just open in 2023 a TD Ameritrade account, and until know didn't fund the account. I don't understand with TD sold to Schwab.
Same
Hopefully they’ve got their stuff together, since my TD Ameritrade accounts are getting switched to Schwab this weekend. And I don’t want to have to move them to a third broker if Schwab goes belly up.
Thank u for the Schwab update… please keep us posted
I started my position in SCHW stock during the Q12023 banking crisis. It ran up now at ~ 40%+ unrealized gain as of today! Also my brokerage is with them.
Same for me. It was the stock I bought the most of in 2023
I’ve been with Schwab since the mid 90’s I know they are a solid company and I knew I should have been a buyer, when I t was down to around 54$ I almost pulled the trigger but I didn’t have the nerves of steel that you had. Now Im jealous, congratulations to you 👍
Great video as always! Thanks. I’m a TDA customer and am staying with CS especially now that CS has decided to handle Roth and traditional Solo 401K accounts like TDA did.
Thank you for your thoughts on Schwab. Please keep giving your take on the company as I'm still on the fence about staying. Thinking about crossing over to Tastytrade (can you do a video about them too?)
Have been with TD for over 20 yrs..sorry to see it go. Will be transferred to Schwab this weekend. Schwab, I have had no issues with them as I have an account with them already. Emails quick to respond, phone calls no problem, someone actually called and spent sometime with me showing how to maneuver and find info on the Schwab platform. So far a happy camper. Oh I like that they have stock slices when buying a stock. Helps when buying as a gift for my nephew.
Transfer this weekend week...let's go!
As for their stock as that is what is being spoken about...haven't bought any.
I was moved in Nov 23.
I hated it, & still do, but I've not found a better option so I'm still there.
I've stuck it through with Schwab. Their customer service has been incredible. If that changes I'm out. We have a lot of choice so there is no reason to stick with a financial institution if you're not getting great customer service. I like to see that Schwab is cutting costs and have backed off on Federal Home Loans. I had IRA's and investments at Schwab but banked with Bank of the West. At the time Bank of the West sold to BMO I left... their customer service was horrendous. Every time I've dealt with Schwab they've gone over-and-above to help. Based on your past videos I did open a Fidelity and Vanguard account but have not deposited with Fidelity yet. Thanks so much for your detailed update Angie! I would appreciate you keeping us posted with any thing new on Schwab.
I'm another casualty of the TDA to CS transition. I tried moving my regular brokerage acct to Fidelity and liked it better than CS, so then I moved all our other accts to Fidelity.
I’m moving to Schwab next week from TD Ameritrade.
My TD accounts migrate to Schwab this weekend. They have been very informative throughout the process. Hopefully it will be a seamless transition.
Did mine in 5/2023 , no issues
I was a TD Ameritrade customer and liked it because of their prompt and friendly customer service. So far Schwab has behaved the same. Having said that, when requesting a process, the paperwork at Schwab is a bit lengthier, more detailed and with with more requirements.
Please keep us updated
Former TD customer. There are some features I liked better on TDs platform. I opened accounts with both Fidelity and Schwab to use them prior to my portfolio moving. Schwab seemed to meet my needs better, so I’m sticking with them.
Great Review & Yes Keep Reviewing Schwab's Progress....
There are different perspectives to take in this report. That of an investor/owner of Schwab stock, and that of an account holder. I have 6 accounts with Schwab, and my annual expense/fees are quite low. And their service is impeccable.
I had Schwab managed brokerage account from 2004 to 2012 and left to other once but I have there securities at other brokerage firms
I continued my self directed IRA and taxable brokerage accounts with Schwab. I am used to their on screen layout and stock trading mechanics. I also put funds in their money market mutual fund. I did not think my funds were ever at risk.
have been schwab customer for 10 years. left fidelity when they kept doing major overhauls to ATP. i'm being forced to ToS which is not as good for my trading approach. ToS is not as intuitive and overly complex if the bells and whistles are not needed. i'm trying to find a new home. i wish someone would buy streetsmart edge and central and i would follow. maybe back to fidelity.
Schwab is moving all my accounts from TD this Friday 5/10. Time will tell if I stay.
Nothing is going happen to Schwab! No panic👍
I started as Scottrade, then eTrade, then TD Ameritrade and then transitioned to Schwab.last year. I'm not a fan of their app. I already had Fidelity so I moved my largest assets there. Still have a few one offs at Schwab.
I have left half with Charles Schwab and move the other half to Fidelity. Personally I have a better experience with Charles Schwab
Something I dislike about Schwab is how funds are credited when a t-bill matures. I had one mature today and the funds weren't credited until 12pm EST. If I remember correctly, with TD funds were credited in the early morning, at least by market open, and it's certainly that way with Merrill where it shows as "anticipated funds", but fully accessible. With Schwab the funds appear to be locked up for a few hours (until 12pm EST).
Why doesn't Schwab add auto sweep like Fidelity?
because it's a major source of their profits.....they want to pay you next to nothing and hope you don't move the money to higher paying investments.
I'm still at Ameritrade, which also sweeps into an account paying almost zero. So I do my own sweeping, into ETF SGOV, currently paying 5.27%. If I want to buy a stock, I first sell just enough SGOV to cover it, and the money is available for trading instantly. I anticipate I will keep using SGOV when my account transfers to Schwab this weekend.
@@DavidLitman-ph9luit is a pain to do that
@@DavidLitman-ph9lu Isn't there a 2 days settlement period when selling ETFs? I thought only money market funds were available immediately.
@@DavidLitman-ph9lu I switched to Fidelity because they auto-sweep to their government money market. Not to mention the t-bil auto-roll function doesn't have a 5 days settlement period where Schwab makes their profit and pays you basically nothing.
Transferred from TDA to Schwab during their transition. Always have used the TOS desktop platform, not mobile or TDA website. Haven't interacted with Schwab customer service yet, so I don't know about that. Before the transition last weekend I looked over everything I could on Schwab's website and didn't see anything that I would say is worrisome. I only invest in stocks and bond ETFs so I can't say how they are about options, futures, forex, etc. From what I see, both brokerages are (were) very similar in most ways. I'll stick with Schwab unless something strange happens.
I have been with Schwab for over 10 years, and plan to stay with Schwab.
I bought a crap-load of SCHW when their quarterly came out. They're good!
More updates on this please! I have lots of assets in Schwab when they transitioned from TD!
Jenn, should i think twice before doing business with a wealth management that parks their money with Schwab?
They have the best customer service ob brokerage accounts
Ex-TD moved to Schwab...but concerned after watching this video. TD is just doing isk-free brokerage but Schwab is doing theirvown banking, investing business which involve risk ? Tks
I stayed with Schwab after the transfer from TD-A. I've gotten used to the platform and I'm comfortable now having no plans to leave. I'm just hitting 80 and deal with CD's MM's and T-Bills waiting for the present financial problems to pass.
I used to work at STDAmeritrade, went to Schwab then went to Goldman, “you feel me”
i open acct with fedility last yr, just to be diversify
Very happy with Schwab and plan to stay. PS - Thanks for another great video.
Should I move to Fidelity?
We were TD customers with small accounts. Transferred most of the money to Fidelity last year as dont like fiduciaries who have finacial problems and the transition has been delayed a few times. I like the TD think of swim software which is the only reason I left a few dollars in each Schwab acct.
I have heard that financial systems overseas are actually safer than the USA. Have you ever considered moving some assets to Singapore?
I have accounts at both. My TDA accounts (IRAs) actually transition this weekend. Assuming everything goes smoothly, my plan is to stay with Scheab. We'll see.
Been with Schwab since the 80s. Never had any concerns or issues. I also have accts at Vanguard and Fidelity.
Transitioned from TDA a few months ago. No plans to leave.
An interesting breakdown of an event or issue I knew nothing about. I have 3 investments in schwab (from my td ameritrade days) and have had no problems. My $PR investment has done well and it's looking like it could be pretty good in the dividend department. I don't see much potential for capital gains, but who knows...Thanks for the info and breakdown.
Schwab can’t keep up with certain features like for example fractional shares. I had Schwab for years but I recommended Fidelity to all my friends.
Ex TDA here. The conversion of my accounts went flawlessly and so far, so good. The main reason why I will stay is the ToS platform. Think or Swim. The trading platform with all of its TA/analytic tools and the like amounts to a crown jewel product. Schwab is wise to have kept it. If they had jettisoned it I would have left. Since they didn't, I'll stay.
Just some thoughts.
I transitioned over from TD Ameritrade and have been happy overall. My customer service experiences have been positive.
I have 3 retirement accounts with Schwab but I am planning on consolidating them with accounts I have at Fidelity. I am just trying to reduce the number of outstanding accounts to make it more manageable. Overall, I like Fidelity better.
I was with TD Ameritrade and have stayed with Schwab, but because of your videos I’ve spread the risk and moved some money to Fidelity. When my next batch of T Bills mature, I’ll be moving more money to Fidelity. Thanks for your highly professional and clearly explained videos. I recommend you to anyone I know who’s in the game. 😊. I’ve still got some money with Etrade. How are they doing?
Schwab handling of auto-roll for T-bills should be a reason to avoid them for buying auction T-bill investing. Schwab profiting off the settlement period...
@@AK-qo6tx Well don't use auto roll.
enjoyed the video here! schwab client.
I’m staying the course with Schwab. They have a range of low cost bond etfs, money market and index funds.
Like a lot of other people who have commented, I was originally a TD customer and have stayed with Schwab. However, it's only one account and the majority of the money in that account has been used to purchase T-Bills.
Started with Datek which TDA bought. Left TDA years ago because I just did not need them. Later, opened Scottrade account. Liked both online and the fact they had a real office in the area. TDA bought ST so ended back with TDA and a local office. Just finished with the account move to Schwab this weekend. I have to say that so far I have been able to work seamlessly. Sure, takes some getting used to but am finding everything I need.
Another great video! I did move our accounts from Schwab to Fidelity, where we already had an account. Not because of the banking scare so much as Fidelity's website is so much better than Schwab's - and Schwab didn't offer the 42 day T-bills! Glad we made the change.
? Since the 6 week/42 day TBills weren’t even announced till very recently if even offered yet , questioning that reason
My employer uses Schwab as 401K self-directed brokerage account. TD also transfered my traditional IRA to Schwab. Should I move them out?
Are there actually any really safe places in the USA financial system? I have actually heard some disturbing things about Vanguard lately. And I do not want to put too many eggs in a very small basket of alternatives.
@@gryblk21 the safest place is probably Treasury Direct....if the U.S. government defaults....the only way that happens would probably be Armageddon.
I was with T D Ameritrade but switched to E-Trad and Morgan Stanley. A good move for me
Former TD , and I've stayed with Schwab. The sweep account shortfall is a drag, but just have to take a more hands-on approach with their MM vehicle. One biggie for staying is that they kept the ToS platform, and it seemed to roll even smoother than the accounts.
Great update, Mahalo! I started UGMA accounts for my 4 grandchildren with USAA. USAA then sold the accounts to Schwabb. I will probably transfer these accounts to Vanguard where my SEP IRA account is for ease and because I think Vanguard is much easier to navigate.
I have vanguard and Schwab. As a user, Schwab platform is far more intuitive and easy to use. I dislike the brokerage and even 529 dashboards in the vanguard website
@darkphasex I guess that since I have been with Vanguard a long time that I am just more comfortable with how to navigate the site. I don't do trading anymore and grandchildren money mostly in S&P index and mine is bills and costs
Glad it was helpful & thanks for sharing!
Ex Td client . Stayed w Schwab. Concerned about dividend characterization on my 1099 n they r researching. Pls keep us posted.
I had a glitch on my 1099 as well due to Schwab's duplicating a calculation that TD had already performed before the transition. The only way they found the discrepancy was because TD's 1099 had quite a bit more detail than theirs. Ultimately not a big deal for me other than a couple hours spent head-scratching, but I wonder how many other accounts experienced the same issue and didn't catch it.
@@LaCasaAcademy I transitioned in may 2023 and as you had 2 1099s
Luckily no issues
Was with Scottrade and TD, and always managed investments by myself, staying with Schwab because of its excellent reputation and customer service.
We've been Schwab customers for decades with an account with Morgan Stanley for the last 8 years that holds stock compensation payouts. Haven't observed any reasons to change this setup. My wife is our accountant, and she prefers doing business by phone. As a software engineer, I'm impressed by the level of care she gets from Schwab in that phone service gets super low priority in most businesses these days.
I'm tdameritrade, I stuck with Schwab. Generally I like Schwab's trading platform somewhat better.
Employee were boasting about how big they were and how small you are as a customer when they move you to a low paying sweep fund. Almost complained to sec
I stayed with Schwab and I am happy thus far.. Steve from MI.
Schwab figured out how to make some of that 5% divs like all their customers are making.
Years in, I am still Experiencing great service from Schwab.