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Obsidian Planning

Obsidian Market Update 07/08/2023

Economic Update

TD Ameritrade to Schwab

It’s Only a Change of Platform

If you currently receive account statements from Schwab, feel free to skip to the Lifestyle and How We Can Help articles.

As many of you know, Obsidian has used TD Ameritrade as its clearing firm: the organization that acts as our trading platform, holds your assets, and issues all required statements. In October of 2020, The Charles Schwab Corporation (Schwab) acquired TD Ameritrade, and will transition all accounts from TD Ameritrade to Schwab during Labor Day weekend of 2023.

What Do You Need to Do?

The answer to this question is simple: very little.

  • We encourage you to read the information you’ve likely already received from TD Ameritrade (via email or U.S. Mail).
  • If you prefer videos, check out:
  • Around August 1, watch for information from Schwab about how to access your account on its website. You will create your own login username and password.

What Will Obsidian Do?

  • We will monitor the transition before, during and after it happens. If you see activity in your account that doesn’t look right, let us know. We’ll do the same.
  • We will make this transition as seamless as possible.
  • We will have the same access to your account that we had with TD Ameritrade. So will you.
  • We will provide information via this newsletter as the transition progresses.
  • We will provide the level of service that you’ve come to expect and deserve.

What Will Schwab do?

  • Schwab will transfer from TD Ameritrade your account information, assets, cost basis and margin and options permissions. It will also transition your account statements (10 years), confirmations (two years), tax documents (seven years), and trade confirmations (two years).
  • Schwab will transition accounts on different dates, so it will send you (by email or mail depending on your preferences) your assigned transition date.

We’ll continue to update you about the transition via this newsletter, so stay tuned!


Best Card Games for Families

Card games fall into two categories: those played using a standard deck of cards (e.g., Go Fish and Solitaire) and those, like Uno and Pictionary, that use decks exclusive to the game. Sales and the number of the latter soared during the pandemic, so families have more choices than ever.

Uno® is #1

Which games top the Family-Friendly List? If the number of units sold is any indication, Uno® reigns supreme. Created in 1971, consumers in over 80 countries have purchased 150 million units.

A Game of Spades, anyone?

Still, the popularity of games using a standard card deck remains strong. The best game for your family depends, of course, on the age range and number of the players, but statistics indicate that geography may also factor into your choice. In southern states, Maryland and Virginia, spades is most popular. In the northern Rockies, it’s rummy, in the southwest, Texas Hold ‘Em, and in the upper Midwest, euchre. 

As financial planners, we don’t make predictions based on past results, but on this topic, we make an exception. If you are asked to play a game of 52 Pick-Up, your best response is “Thanks, but no thanks.”

How We Help

Preparing For Student Loan Repayment

The three-year pause on payments on federal student loans comes to an end for most borrowers on October 1. (Please check with your lender for exact dates.) While many borrowers hoped for continued relief via President Biden’s Student Debt Relief Plan, those hopes were dashed on June 30 when the Supreme Court ruled that the Department of Education does not have the authority to forgive $10,000 to $20,000 in federally owned student debt.

If resuming payments will be challenging for your family or someone you care about, we’re happy to help with budget-related ideas and education. Give us a call.

Advisory Services offered through Obsidian Personal Planning Solutions, LLC. Securities are offered through Triad Advisors, member ​FINRA/SIPC.​ Obsidian Personal Planning Solutions, LLC, and Obsidian Personal Planning Solutions, Inc, are not affiliated with Triad Advisors.

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