In 2019, The Charles Schwab Corporation (Schwab) acquired TD Ameritrade Holding Corporation and its related businesses (TD Ameritrade). Since that time, TD Ameritrade has been working with Schwab to move TD Ameritrade accounts to the Schwab platform. Schwab and TD Ameritrade continue to make great progress on the integration of the two firms, with an anticipated transition date of September 5, 2023. Your relationship with Ellsworth Advisors will not change as part of the integration. Schwab will automatically transfer your assets and holdings to the new consolidated platform, called Schwab Alliance.
A Client Information Hub has been established to support your transition to Schwab. Please visit welcome.schwab.com/alliance for more information.
On July 28, 2023, a communication was sent to all clients with a wrap fee at Ellsworth Advisors (Ellsworth) that will be transferring from TD Ameritrade to Schwab. That letter and attached amendment detailed fees that are not covered by the wrap fee. These fees must be transferred to the client and cannot be absorbed by the advisor. This is similar to the arrangement at TD Ameritrade as well. Ellsworth will be able to include the following fees within the wrap fee that you are paying. These will not be out of pocket costs to you.
- American Depository Receipt (ADR) fees
- Asset-Based Pricing (ABP) fees
- Exchange Processing fees
- Foreign Transaction fees
- Prime Broker (PB)/Trade away (TA) fees
- Short term redemption (STR) fees
- Trust Reporting fees
- Unlisted Foreign Ordinary (UFO) fees
Additionally, we will refund fees charged by other firms when you transfer your accounts to us. Find important documents here.