Ask Terry Questions Transfer of Investment account to Schwab

Transfer of Investment account to Schwab

By Terry Savage on October 24, 2023 | Financial Planning / Retirement

I have transferred my IRA from LPL to Schwab. No problem.
I am now attempting to transfer my Investment account, in which I am the trustee, and am required to fill out a 19 page questionnaire. I am an 85 year old widow.

Terry Says

So how is the investment account currently titled? Is it in your name, or the name of your Revocable Living Trust? (you mentioned being a trustee)
Do you have a Revocable Living Trust (specifying who takes over if you become incapacitated — and what happens to your money if you die??

Probably, you are being asked to tell them how sophisticated an investor you are!! They need that to protect themselves. But are you signing up for any kind of advice from Schwab?? Working with one of their advisors? Are you paying fees/commissions on this account??

Basically, I’m asking if you know what you’re getting into, what you’re going to be charged, etc. If you don’t, may I suggest at least one meeting with a fee-only FIDUCIARY advisor to help you with not only the investments, but getting you started on a proper income and estate plan? Go to by clicking this link. Pam Krueger will connect you with someone suitable, someone whose advice you can trust. And feel free to write back to me at any time.

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