Due to the merger of Schwab and TD Ameritrade, account data flowing into your firm's Portfolio Management System (PMS) and the CRM via Data Broker could possibly change, leading to duplicate data, if appropriate steps are not taken. Please see the information on how the merger impacts you and any necessary action steps, based on your PMS/PAS below:

Tamarac

Tamarac has changed external account ID numbers. This is causing duplicate account creation in the CRM. We recommend if you have TD Ameritrade accounts, that you hold off on running your daily Data Broker job. We are working with Tamarac on a solution and will update you as soon as we can.

Advent 

Due to the on-premise nature of Advent PAS systems, data may be impacted due to the Schwab/TD merger. You should take action to avoid potential duplications of financial account records once the Schwab/TD changeover takes place. Your firm has multiple options available to you:

• Take no action: This will result in new portfolios being created in Axys/APX, resulting in new records (duplicates) being created in CRM by the Data Broker integration.
  • What this means: If you do not take any action at all and allow the Financial Accounts to feed into your Advent system and then assign them to the relevant Portfolio Group, duplicate Accounts will be created, as these will be new Schwab accounts post-merger.
• Export record data from CRM, pre-seed the impacted data into their records, and bulk load the updates into CRM:  This will effectively replace the old TD account number and custodian with the respective Schwab information (Account ID, Custodian, etc.)
  • What this means: You can export the existing TD Financial Accounts from the CRM and update these Accounts with the identifying information based on the new Schwab account including Account ID, Custodian, Portfolio Code, Name, etc.
• Work with AOS/Advent Support to merge records: Depending on the version and platform, you may be able to work with AOS or Advent support to merge the old TD records with new Schwab records, which would result in a continuation of the same CRM record.
  • What this means: If possible, you can merge the old TD records with the new Schwab records. As long as the original Portfolio Code is maintained, this will ensure that the single Account in CRM is maintained and updated to include the Schwab information without additional intervention.

Black Diamond

Black Diamond reported no change in External ID for their financial account records; therefore, no action should be needed from you.

Addepar

Addepar has reported no change in their External ID for financial account records; therefore, no action should be needed from you.

Orion

Orion has reported no change in their External ID for financial account records; therefore, no action should be needed from you.