Do you have any macroeconomic concerns about the monopolistic and oligarchist ramifications regarding the merger of these two behemoths? After many years, we just had the Suntrust/MT&T Bank Merger after a hold on financial mergers in the fallout of the banking industry, with the 2008 bailout that our tax dollars paid for, now this. I get concerned that the free market will be reduced to just a few huge corporations which ultimately lead to less competition, which ultimately leads to consumer disadvantages? Your thoughts on this?
Very deep insight, but we're not that concern with this one merger because they do try to handle the needs of retail investors and it seems both have loyal customers. I do agree with mergers lead to less competition, but consumers can always vote with their dollars. At the end of the day, companies that want to survive so do the best to keep their customers if not, their profits will suffer.
Hi, if you mean what will it do to Schwab's stock, that all depends on whether or not the market believes it's a good business move. When it comes to customers holding stock in their brokerage accounts, all the stocks you own should still be there.
As bomb as Charles Schwab's customer service is, even if TD Ameritrade customers do find problems while transfering over, they should be fine. Also, love you ladies! Y'all are awesome!
@@WealthTwins First and foremost is definitely their customer service. I have never felt uncomfortable or unwelcome when speaking to any of their representatives, which I can't say about other financial institutions as confidently. Then there's their website, the information they have available, even their newsletters (I barely read any newsletters I sign up for) are so informative. I appreciate that they aren't just trying to make money off of my money, they want me to be an informed customer. I've actually just switched a lot of my banking/finances to Schwab as well because I was tired of Capital One.
@@EriselCruz Awesome! We really appreciate their customer service too and think they are some of the best. Respect and feeling appreciated go a long way. Businesses that treat their customers right, are the ones that should stay around. Thanks for the feedback!
Anyone know if the Schwab acquisition of TDAmeritrade means the account numbers of TDAmeritrade members will change also? Or will the account numbers stay the same. I can’t find info about it on their website
Happy 2022🥳🥳 I stumbled on your channel TODAY and have been OVERDOSING on your videos since 8 AM this morning 🤣 YOU 2 are PHENOMENAL and knowing you are from NEW YORK is BONUS as I was born and raised in THE BOOGIE DOWN😜 I clicked on your affiliate link to open a Charles Schwab account but it is not working. After entering my info on the OPEN ACCOUNT form nothing happened. It is STILL BUFFERING since about 2:08 PM and as I type this it is now 2:28 PM I want you to get credit for referring me. Do you have a working link or should I just start again?
Hi Tee! Thank you for finding our channel and watching our videos! Sorry about the issue with the link. We guess they must have stopped the promotion by the time you saw the video. We actually don't receive any compensation for the referral, but thank you for thinking about us. Hope your new year is starting off great! Btw, is there anything in particular you would like to see us cover?
Anyone know if the Schwab acquisition of TDAmeritrade means the account numbers of members will change also? Or will the account numbers stay the same. I can’t find info about it on their website
Thanks for the question. Currently, everything remains the same for each company's customer. If TD Ameritrade customers have to pay a fee to purchase or sell stock in IRA accounts now, then it still remains the case.
@@lamklam5962 that's good. Schwab also doesn't charge commission and transaction fees to buy or sell stocks in IRA accounts as long as it is not broker assisted. So for TD customers it won't be a change.
Thanks for a great video; I’m excited about this merger. As a Schwab customer of course the easiest thing for me to do is just hope that their platform remains essentially the same but maybe a few things will change for the better and that’s always good. Here’s a shoutout of thanks; we love you! 👍👍👍
I am in HK - Schwab has given us until end December to transfer our TDA account or close it. BUT if we go to Schwab they will not be providing option services. Any suggestions for alternatives?
Based on the info we researched the head of Ameritrade wasn't clear on when or if they would do fractional shares. Now that TD Ameritrade has merged with Charles Schwab you can call CS and ask that your account be transferred to Charles Schwab. Once you are on the Charles Schwab platform, you can trade fractional shares.
Td ameritrde has drip where stocks that offer dividends, can be used to buy a fraction of same stock with every dividend. This is not set to "on" by default.
I’m new to your channel and to investing. The most frustrating thing and yet it seems so simple, is that these brokerage accounts don’t make it plain as to how much money you have ‘available to invest’. I feel like I have to investigate and hunt it down. My hope is that they have this information on the landing page with clear verbiage that says AMOUNT AVAILABLE TO INVEST. - sorry, I’m usually a high vibrating, non complaining person. 🙂
No problem we understand when you get frustrated it can mess up your whole energy. Do you invest with CS, because there is a section on top when you go to trade that actually shows you how much you have available for trading. You can also do limit order so you know exactly how much you are willing to pay per share and then calculate the total amount. Before you do the trade you can then transfer the required funds. They will give you the total amount needed to complete the trade when you are reviewing your order. It is shown before you actually do the actual trade.
Wealth Twins... you're awesome. However, there isn't a noticeable change in my buying power after placing a limit order. If I have 1k of buying power and place a limit order for $500gtc, my buying power still shows 1k. I think it would be great if that 500 was removed from my buying power total available.
@@WealthTwinsthere won’t be any transfer fees from what I read, but not sure about account numbers changing, I’m a TD customer and was notified of transfer by April 23rd
I see Schwab winning. Tax free IRA accounts, low costing Index mutual funds, fractional shares for blue chip companies, and far better customer service. Most Robinhood users gamble away their money trying to day trade badly or bad quality Option trades.
@@akin242002 we agree many Robinhood customers share a certain profile. Hopefully, as they learn about how you really make sustainable money in the stock market they will move over to long term trading and companies that support them.
@@partywrestlerproductionsll1189 That's great that you watched them all! Also, please let us know when the market crashes, because we don't know when or if that will happen. We've learned not to try to time the market. However, we are always willing to learn.
@@partywrestlerproductionsll1189 hmm.. we have a feeling about what you mean when you write " new era in banking" let's see if both things you mention are correct.
@@WealthTwins i've had a schwab account before, but i switched to tdameritrade and i love it. i just have a feeling that when schwab takes over, they're going to change a bunch of things around for td customers like myself
Wow, really? sorry to hear that, customer service is a big part of any business. At the beginning of any merger there are some huge hiccups. Hopefully, things will smooth out in the future.
Do you have any macroeconomic concerns about the monopolistic and oligarchist ramifications regarding the merger of these two behemoths? After many years, we just had the Suntrust/MT&T Bank Merger after a hold on financial mergers in the fallout of the banking industry, with the 2008 bailout that our tax dollars paid for, now this. I get concerned that the free market will be reduced to just a few huge corporations which ultimately lead to less competition, which ultimately leads to consumer disadvantages? Your thoughts on this?
Very deep insight, but we're not that concern with this one merger because they do try to handle the needs of retail investors and it seems both have loyal customers. I do agree with mergers lead to less competition, but consumers can always vote with their dollars. At the end of the day, companies that want to survive so do the best to keep their customers if not, their profits will suffer.
Great Video! I have a Charles Schwab account I think the merger will be great for both customers. Made sure to smash the like button
Thank you! We also think it will be great for all the customers.
You two are angels, thank you. 👼 👼
Thank you!
Great ❤
not a huge fan of the Charles Schwab website , compared to TD' s layout on their site. gonna be a learning curve i guess?
That's interesting, I found TD much more difficult to use.
It’s like forcing iphone users to use android
What does this mean for stocks will it increase or decrease?
Hi, if you mean what will it do to Schwab's stock, that all depends on whether or not the market believes it's a good business move. When it comes to customers holding stock in their brokerage accounts, all the stocks you own should still be there.
Great stuff !!
Thank you!
As bomb as Charles Schwab's customer service is, even if TD Ameritrade customers do find problems while transfering over, they should be fine. Also, love you ladies! Y'all are awesome!
Aww, thank you so much for the compliment! We agree, TD Ameritrade customers should be fine. Quick question, what do you think makes Schwab the bomb?
@@WealthTwins First and foremost is definitely their customer service. I have never felt uncomfortable or unwelcome when speaking to any of their representatives, which I can't say about other financial institutions as confidently. Then there's their website, the information they have available, even their newsletters (I barely read any newsletters I sign up for) are so informative. I appreciate that they aren't just trying to make money off of my money, they want me to be an informed customer. I've actually just switched a lot of my banking/finances to Schwab as well because I was tired of Capital One.
@@EriselCruz Awesome! We really appreciate their customer service too and think they are some of the best. Respect and feeling appreciated go a long way. Businesses that treat their customers right, are the ones that should stay around. Thanks for the feedback!
Anyone know if the Schwab acquisition of TDAmeritrade means the account numbers of TDAmeritrade members will change also? Or will the account numbers stay the same. I can’t find info about it on their website
Except that we can not get access to our TD account numbers to even create a new login for the Schwab transition, which is critical!
Happy 2022🥳🥳 I stumbled on your channel TODAY and have been OVERDOSING on your videos since 8 AM this morning 🤣 YOU 2 are PHENOMENAL and knowing you are from NEW YORK is BONUS as I was born and raised in THE BOOGIE DOWN😜 I clicked on your affiliate link to open a Charles Schwab account but it is not working. After entering my info on the OPEN ACCOUNT form nothing happened. It is STILL BUFFERING since about 2:08 PM and as I type this it is now 2:28 PM I want you to get credit for referring me. Do you have a working link or should I just start again?
Hi Tee! Thank you for finding our channel and watching our videos! Sorry about the issue with the link. We guess they must have stopped the promotion by the time you saw the video. We actually don't receive any compensation for the referral, but thank you for thinking about us. Hope your new year is starting off great! Btw, is there anything in particular you would like to see us cover?
Anyone know if the Schwab acquisition of TDAmeritrade means the account numbers of members will change also? Or will the account numbers stay the same. I can’t find info about it on their website
We don't know either, but we would take a guess and bet they will eventually give out new numbers.
This channel is cooool
Thank you, we appreciate that.
I thought someone named schwab was hacking me
I currently have a TD Ameritrade investing account. Will that affect my account?
You just be transferred over. Just to be sure though it is best to call Charles schwab.
So will TD ameritrade customers have to pay a fee to purchase or sell stocks in IRA accounts?
Thanks for the question. Currently, everything remains the same for each company's customer. If TD Ameritrade customers have to pay a fee to purchase or sell stock in IRA accounts now, then it still remains the case.
@@WealthTwins Actually right now TD customers have no fee trades in IRA.
@@lamklam5962 that's good. Schwab also doesn't charge commission and transaction fees to buy or sell stocks in IRA accounts as long as it is not broker assisted. So for TD customers it won't be a change.
Thanks for a great video; I’m excited about this merger. As a Schwab customer of course the easiest thing for me to do is just hope that their platform remains essentially the same but maybe a few things will change for the better and that’s always good. Here’s a shoutout of thanks; we love you! 👍👍👍
They still don't offer fractional shares either.
Are you speaking about Charles Schwab? They offer fractional shares and you can move over to them if you are a TD customer.
I am in HK - Schwab has given us until end December to transfer our TDA account or close it. BUT if we go to Schwab they will not be providing option services. Any suggestions for alternatives?
Hi! Sorry to hear that, are you able to use Fidelity in HK? They are very similar to Charles Schwab and may provide more flexibility.
I wanna know when Ameritrade will add fractional shares for the users so i close my other accounts and switch everything over to TD
Based on the info we researched the head of Ameritrade wasn't clear on when or if they would do fractional shares. Now that TD Ameritrade has merged with Charles Schwab you can call CS and ask that your account be transferred to Charles Schwab. Once you are on the Charles Schwab platform, you can trade fractional shares.
Td ameritrde has drip where stocks that offer dividends, can be used to buy a fraction of same stock with every dividend. This is not set to "on" by default.
@@slowoldoc thanks for the info. It's good to know that you have to be active to select the drip option.
I’m new to your channel and to investing. The most frustrating thing and yet it seems so simple, is that these brokerage accounts don’t make it plain as to how much money you have ‘available to invest’. I feel like I have to investigate and hunt it down. My hope is that they have this information on the landing page with clear verbiage that says AMOUNT AVAILABLE TO INVEST. - sorry, I’m usually a high vibrating, non complaining person. 🙂
No problem we understand when you get frustrated it can mess up your whole energy. Do you invest with CS, because there is a section on top when you go to trade that actually shows you how much you have available for trading. You can also do limit order so you know exactly how much you are willing to pay per share and then calculate the total amount. Before you do the trade you can then transfer the required funds. They will give you the total amount needed to complete the trade when you are reviewing your order. It is shown before you actually do the actual trade.
Wealth Twins... you're awesome. However, there isn't a noticeable change in my buying power after placing a limit order. If I have 1k of buying power and place a limit order for $500gtc, my buying power still shows 1k. I think it would be great if that 500 was removed from my buying power total available.
When Ameritrade merged with Scottrade it was very easy. So hopefully this will be just as good!
Fingers crossed!
As a former banker, Mergers NEVER EVER are totally smooth transitions but hopefully internal measures are in place.
Totally agree. Hopefully it won't be too many bumps in the road.
@@WealthTwinsthere won’t be any transfer fees from what I read, but not sure about account numbers changing, I’m a TD customer and was notified of transfer by April 23rd
Biggest merger in a while, Schwab trying to fight against the Robinhooders
We agree, but we think Charles Schwab will win. We'll tell why soon!
I see Schwab winning. Tax free IRA accounts, low costing Index mutual funds, fractional shares for blue chip companies, and far better customer service.
Most Robinhood users gamble away their money trying to day trade badly or bad quality Option trades.
@@akin242002 we agree many Robinhood customers share a certain profile. Hopefully, as they learn about how you really make sustainable money in the stock market they will move over to long term trading and companies that support them.
I don't 100% trust Robinhood for safety
We can understand that, they've had some negative press.
It happening 🎉 The last week of May
Ok, thanks for the update. Hopefully it's a smooth transition.
And now Morgan Stanley merger with E Trade
Oh really?! We didn't know that one. Gonna check it out now. Guess it's that time of season. Ha!
Great video,always on top of the game,I love you too,I may need a Lil more schooling
Thanks for the support! Did you see our other Charles Schwab videos?
Wealth Twins yes my friends I watch them all,I learn to stay out to market until it crashes then buy it all,
@@partywrestlerproductionsll1189 That's great that you watched them all! Also, please let us know when the market crashes, because we don't know when or if that will happen. We've learned not to try to time the market. However, we are always willing to learn.
Wealth Twins before the new year it has to crash,to make way for a new era in banking,no more stealing money my friend
@@partywrestlerproductionsll1189 hmm.. we have a feeling about what you mean when you write " new era in banking" let's see if both things you mention are correct.
i think im going to have issues with schwab
Oh, that's too bad. Why do you think so?
@@WealthTwins i've had a schwab account before, but i switched to tdameritrade and i love it. i just have a feeling that when schwab takes over, they're going to change a bunch of things around for td customers like myself
Waiting for the merger to be complete so that I can take advantage of fractional shares on my TD account
Cool! if you want to transfer your account earlier just call Schwab customer service.
@@WealthTwins If I transfer can I still access Think Or Swim?
Not sure, you should definitely give CS customer service a call
Can you please make a video about how E*TRADE customer service went down hell after Morgan Stanley got them .soo many problems
Wow, really? sorry to hear that, customer service is a big part of any business. At the beginning of any merger there are some huge hiccups. Hopefully, things will smooth out in the future.