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Schwab Announcement

Mar 4, 2020 | Uncategorized

Walkner Condon Financial Advisors Announces the Addition of Schwab as a Custodian

Walkner Condon Financial Advisors is proud to announce the addition of Charles Schwab as a custodian. This will bring our number of available custodians for our clients up to four, with TD Ameritrade and Interactive Brokers acting as the two highest assets under management custodians offered to our clients. Primarily, TD Ameritrade functions as our domestic custodian while Interactive Brokers offers a global offering for our U.S. expat clients.

Why Schwab?

Simply put, with the Schwab/TD Ameritrade merger, we anticipate their offerings to be one of the most complete in the industry. Schwab offers commission-free equity and ETF trading, along with a myriad of fixed income, options, and banking choices for clients that require those services. As a team, we discussed what we thought was the best way to hit the ground running when the merger occurs, and that was to familiarize ourselves with the platform prior to the transition. Additionally, it will offer us the ability to help clients with Schwab accounts that they would like us to manage without having to transfer assets over to another custodian. Moreover, many 401k plans offer a self-directed option with Schwab, so this may also open up investment opportunities for our clients without being required to use their preselected investment lineup.

What is Happening with Existing Clients?

Not much at all. We are not anticipating moving any clients from TD to Schwab proactively, instead allowing the transfer process to play out naturally. It will take years before the merger is truly complete, which will allow us ample time to vet out the new combined entity.

Should there be clients with Schwab accounts currently that would like us to incorporate those into their current investment lineup through our management, please contact us. We will also reach out to those clients that we think will directly benefit from this new offering.

Please let us know if you have any additional questions. We are excited to offer more choice to our clients, as we strive to achieve confidence and clarity in their financial futures.

 

Clint, Nate, Jon, Mitch, Keith, and Hannah