The transfer from TDAI to the Schwab Alliance platform has been completed and I wanted to provide you with an update. We are still experiencing longer delays to complete tasks on the Schwab platform (than we did on the TDAI platform) but we have started to see improvements.
We have noticed that Schwab likes to email and send mailers far more often than we experienced when TDAI was the custodian. I would like to double down on my usual recommendation that you NOT click on hidden links within emails – Schwab appears to send many emails with hidden links. You could instead log into your Schwab online account directly and address Schwab’s emailed request. Our concern stems from potential spoofing of both the email and the Schwab website. Our priority should be to keep your Schwab Alliance login credentials safe and secure so that we can maintain digital safety of your portfolio. To do so please be sure you only log in using the Schwab legitimate website and from a safe electronic device.
Mid-January, Schwab sent an email to those who participate in the Schwab sponsored individual 401k plan regarding a new ROTH 401K plan feature. This is good news but for now, please ignore it. We can discuss how it works at our next meeting particularly if it might be useful for your financial plan.
If you are having difficulty logging into the Schwab Alliance website, please let us know. If you have not yet logged in to the Schwab platform then you will begin receiving paper reports in April unless you log into your account before March 27, 2024.
Edi Alvarez, CFP®
BS, BEd, MS