Ameritrade to Schwab transition

[faezandyc]

My Ameritrade account recently became a Schwab account. The transition seems to have gone well with all my investments and cash being transferred.
In 2024 I'll probably get a 1099 from each company and I check the numbers using Fund Manager.
Should I just change the portfolio name? And then make sure that the totals of both 1099s equal the dividends and interest reported by Fund Manager?

I'm posting this because you, Mark, always seem to explain things really well.

Andy Christensen

[Mark]

Hi Andy,

Yes, that is the easiest, and what I'd recommend. Just change the portfolio name/account number/transaction retrieve settings. This way you don't have to "transfer" shares, and you just maintain 1 sub-portfolio with the full history. You could record a portfolio memo that the account was moved on such and such date. You would have the issue of having to combine 2 1099's for this one transfer year when reconciling.

If for some reason, you do want to separate these into 2 completely separate sub-portfolios, you can use the "Transfer Between" wizard on each share to transfer all your shares between sub-portfolios as of the transfer date. This has the downside of splitting your history, but it would make it such that each sub-portfolio would match the appropriate 1099 at the end of the year.

[faezandyc]

Thanks Mark. I'll just change the name. Glad to hear that you agree with that.

Andy