Impact of TD Ameritrade / Schwab International merger for US Citizens in Canada

[FLBiker]

TD Ameritrade was the only company I found that would let me open a Roth IRA account as a US Citizen living in Canada -- I moved my account from Vanguard to there.  They're merging with Schwab International, and I wanted to make sure that I'd be able to continue to hold my account with them (because if I had to move it somewhere, it might be hard to find someone who would let me open a new account).  I just spoke to a rep, and he said that IRA accounts for US citizens in Canada will operate as normal.  Brokerage accounts would be withdrawal only, though.

I just wanted to share this because the rules that various brokerages have around what US citizens can and can't hold while living in Canada keep shifting.

[Goldielocks]

Just an FYI,  when Wells Fargo turned my IRA into a "withdraw only" account, they insisted that I withdraw 100% in a single transaction / day -- I could call to "Sell all and transfer out", that was what they were set up for.   

It was agonizing to get them to sell only certain assets at a time.  No asset allocation rebalancing, etc. and back then there were not the asset allocation ETFs to keep it in.

[oldercoder]

It looks like the Charles Schwab acquisition of TD Ameritrade is still not finished.  I was thinking of moving there from Vanguard once the dust settles, so I can use my Canadian address rather than my parents' U.S. address.   Other than needing to convert mutual funds to ETFs, are there any other concerns?

[FLBiker]

It looks like the Charles Schwab acquisition of TD Ameritrade is still not finished.  I was thinking of moving there from Vanguard once the dust settles, so I can use my Canadian address rather than my parents' U.S. address.   Other than needing to convert mutual funds to ETFs, are there any other concerns?

I think that's about it.  I've been happy with them -- although in fairness I haven't asked much of them.