How to update Dividend and Capital Gains elections 

How to update Dividend and Capital Gains elections 

Reinvest is a fully digital system available on Schwab Advisor Center® to make elections for dividends and capital gains. The Reinvest page allows you to quickly and easily submit changes across multiple positions, accounts and various security types.

To submit reinvestment elections, you will need the following:

  • Read data access and Access Reinvest security function.
  • Sufficient privileges on the account:
    • Limited Power of Attorney Tooltip or
    • Withdrawal power financial advisor (WPFA)
  1. From the Accounts sub-menu on the home page of Schwab Advisor Center locate the Reinvest tab (between the Positions and Transactions tabs).
  2. Select your firm, master, account, or group from the Associated and Recent Items pane.
    1. The tool supports up to 8,000 positions or accounts. If your Firm or Master view contains more, start with either an account number or a custom group.
  3. Click the Reinvest tab to load the page. 
  4. Using the top filter section, filter the list:
    1. Filter Search: Use to filter the results searching the data loaded in the table grid. Type the Symbol, Account, or Security Name to begin.
    2. Select the filter Dividend (Default).
      1. Note: The Reinvest tool does not allow you to view Dividends and Capital Gains together.
    3. Security Type: Filter the results by Equity, ETF (Exchange Traded Funds), or Mutual Funds.
    4. Status: Filter status results by Reinvest, Cash, and In Progress.
  5. To make the election change, select the rows individually or use the Select All checkbox to select all rows. 
  6. Once one or more rows are selected, the Change to Reinvest or Change to Cash buttons are activated, depending on the election status.
    1. If the row(s) selected only contain Cash in the Status column, the Change to Reinvest button activates.
    2. If the row(s) selected only contain Reinvest in the Status column, the Change to Cash button activates.
    3. If both Cash and Reinvest are selected, both buttons activate.
  7. If you are unable to select a given row (grayed out), place your cursor over the lock symbol to view the status details.
  1. From the Accounts sub-menu on the home page of Schwab Advisor Center, locate the Reinvest tab (between the Positions and Transactions tabs). 
  2. Select your firm, master, account, or group from the Associated and Recent Items pane.
  3. Click the Reinvest tab to load the page.
  4. Using the top filter section, filter the list:
    1. Filter Search: Use to filter the results searching the data loaded in the table grid. Type the Symbol, Account, or Security Name to begin.
    2. Select the Capital Gains filter.
    3. Security Type: Filter the results by either ETF (Exchange Traded Funds) or Mutual Funds.
    4. Status: Filter status results by Reinvest, Cash, and In Progress.
  5. To make the election change, select the rows individually or use the Select All checkbox to select all rows.
  6. Once one or more rows are selected, the Change to Reinvest or Change to Cash buttons activate, depending on the election status.
    1. If the row(s) selected only contain Cash in the Status column, the Change to Reinvest button activates.
    2. If the row(s) selected only contain Reinvest in the Status column, the Change to Cash button activates.
    3. If both Cash and Reinvest are selected, both buttons activate.
  7. If you are unable to select a given row (grayed out), place your cursor over the lock symbol to view the status details.

Special handling is required for Mutual Funds.

The lock image may be displayed for any of the following reasons:

  • Mutual fund cannot be set to reinvest until capital gains are set to reinvest.
  • Capital gains are locked until the dividend change is completed.
  • Dividends are locked until the capital gains change is completed.
  • The record is locked pending successful completion of a previously requested change.
  1. From the Accounts sub-menu on the home page of Schwab Advisor Center, locate the Reinvest tab (between the Positions and Transactions tabs).
  2. Select your firm, master, account, or group from the Associated and Recent Items pane. Click the Reinvest tab to load the page.
  3. Using the top filter section, filter the list:
    1. Filter Search: Use to filter the results searching the data loaded in the table grid. Type the Symbol, Account, or Security Name to begin.
    2. Select the filter Dividends or Capital Gains.
    3. Security Type: Filter by Mutual Funds.
    4. Status: Filter the status results by Reinvest, Cash and In Progress.
  4. To make the election change, select the rows individually or use the Select All checkbox to select all rows.
  5. Once one or more rows are selected, the Change to Reinvest or Change to Cash buttons activate, depending on the election status.
    1. If the row(s) selected only contain Cash in the Status column, the Change to Reinvest button activates.
    2. If the row(s) selected only contain Reinvest in the Status column, the Change to Cash button activates.
    3. If you selected both Cash and Reinvest, both buttons activate.
  6. If you are unable to select a given row (grayed out), place your cursor over the lock symbol to view the status details.

After submitting the changes, it is a best practice to export the grid immediately. This preserves a record of submitted changes. At this time, the page does not have print capability.

  1. To export, click the Export icon at the top right corner of the screen.
  2. The browser downloads the file to the Download folder on your computer (unless the settings where files are downloaded were previously changed).
  3. Open the downloaded Excel file to view positions data.

Why am I unable to see the Reinvest tab?
Your Firm Security Administrator can add the function permission: Access Reinvest.

Why am I unable to change Dividend Reinvest Instructions (DRI) from the Positions tab?
DRI instructions cannot be changed from the Positions tab once the Reinvest tab is enabled. The Yes/No option is no longer hyperlinked in the Positions when Reinvest is present.

How can I get a quick overview of the Reinvest tab?
Click Guide me which leads you through the application or visit the Service Guide page.

If my firm has more than 8,000 positions/accounts, can I search across my firm using a single position?
The Reinvest tab only supports searching after the table grid populates. When there is too much data to display, select either a Master, Account number, Account holder or Custom groups to limit the amount of Accounts/Positions to display.

Why does it revert to the prior status when I refresh the page after submitting my changes?
Ineligible positions and positions associated with ineligible accounts revert to the original status after submitting the positions status update when refreshing.

Can managed accounts have dividends set to reinvest?
No, managed accounts can only be set to cash. The accounts are ineligible for dividend reinvestment as frequent withdrawals may interfere with the proper management of a client’s managed account.

How long does it take to update the positions status after submitting my changes?
Allow up to 120 minutes after submission for Schwab to process the request and see the new election status.

What are the options available for individual or bulk update of Positions for Dividend and Capital Gains?
Dividend supports Equity, ETF and Mutual Fund. Capital Gains support ETF and Mutual Fund.

What are the rules for de-selecting all records in bulk?
De-select all the records in bulk by selecting the Select All checkbox. If the (-) in the Select All checkbox is present, the rows cannot be de-selected. De-select by clicking the Cancel button or Refresh link.

Why does a Mutual Fund change to Cash automatically in Dividends filter when user changes a Mutual Fund symbol from Reinvest to Cash in Capital Gains?
When a Mutual Fund symbol is changed from Reinvest to Cash in the Capital Gains filter, a pop up displays: You are attempting to change the Mutual Funds Capital Gains from Reinvest to Cash. Proceeding with this change will automatically change the Mutual Funds dividend instruction to Cash, if the dividend is currently set to Reinvest.

Once the Yes button is clicked, the status changes to Updating to Cash (lock) in the Capital Gains filter. The value of the same symbol in Dividends displays as Cash (lock)/updating to Cash (lock) depending on the previous value.

What are the different statuses available for Dividend and Reinvest update of the positions?

  • Cash or Cash locked
  • Reinvest or Reinvest locked
  • Updating to Cash or Updating to Reinvest

What are the reasons for locked positions and how can they be removed?
Status is locked in Updating to Cash/Updating to Reinvest until Schwab processes the request.

  • Cash locked or Reinvest locked remains until the corresponding status in Capital Gains/Dividends moves to updating state. The lock is removed once the In Progress status changes to Reinvest or Cash.
  • Cash locked in Dividends displays when the corresponding Mutual Fund value in Capital Gains is set to Cash. To remove the Cash locked in Dividends filter, update the corresponding Mutual Fund symbol in Capital Gains to Reinvest.

What are the corresponding statuses seen for the Positions tab?

Reinvest TabPositions Tab (Details Tab)
Reinvest, Reinvest (lock)Yes
Cash, Cash (lock)No
Updating to Reinvest (lock), Updating to Cash (lock)In Progress

 

Positions Tab (Summary Tab)Positions Tab (Details Tab)
YesAll sub accounts have Yes status in Details tab
NoAll sub accounts have No status in Details tab
In ProgressAll sub accounts have In Progress status in Details tab
MixedAll sub accounts have Yes, No, Yes in combination in Details tab or a combination of Yes, No and In Progress.


What do the different informational messages on the grid mean?

  • Cash (lock), or Reinvest (lock):
    • Message on Capital Gains screen: Updates to capital gains are locked until the Dividend change is completed.
    • Message on Dividends screen: Updates to dividends are locked until the Capital Gain change is completed.
  • Cash (lock) on Dividends: To change the dividend instruction, update the Capital Gains instructions from Cash to Reinvest.

What are the different on-screen messages based on the conditions triggered by Reinvest application?

Unsuccessful submissionWe're sorry, the request was not successful due to an error. Please try again or contact your Service team for assistance.
Restricted accounts present in the Firm/Master/Account Holder/Custom GroupYou are not authorized to view restricted accounts and those accounts have been removed from the results.
Invalid grid searchWe're sorry, no results found. Please check your filter criteria and try again.
No eligible PositionsWe're sorry, but no positions match your criteria. Please review your selections and try again.
PAL AccountYou can only view Pledged Asset Line® data in the Alerts, Balances, Transactions, and Documents data views. Please select either the Alerts, Balances, Transactions, or Documents tab to view the data for this Pledged Asset Line® account.
Bank AccountYou can only view Schwab Bank account data in the Balances, Transactions and Alerts data views. Please select either the Balances, Transactions or Alerts tab to view the data for this bank account.
Pending AccountThis account is still updating to our system. Please choose another account.
Firm linked to 0 mastersYou don't have permissions to view any master accounts.
Master linked to 0 sub accountsWe're sorry, but we don't have any accounts linked to this master account in our system.
Custom Group linked to 0 sub accountsWe're sorry, but there are no accounts currently associated with this group.
Success message when On-Demand setting is enabledThank you, your request has been submitted to update {count} position(s). Please allow up to 120 minutes to see the updated status.
Firm with more than 8k positions into contextWe are unable to display more than 8,000 positions for Dividend and Capital Gains in the grid. Please choose an account, account holder, or a master account to view Dividend and Capital Gains positions.
Master Account with more than 8k positions into context

Custom Group with more than 8k positions into context
We are unable to display more than 8,000 positions for Dividend and Capital Gains in the grid. Please choose an account, account holder, or a master account to view Dividend and Capital Gains positions.
Account Holder with more than 8k positions into contextWe are unable to display more than 8,000 positions for Dividend and Capital Gains in the grid. Please choose an account to view Dividend and Capital Gains positions.
Sub Account with more than 8k positions into contextWe are unable to display more than 8,000 positions for Dividend and Capital Gains in the grid. Please contact Advisor Platform Support at 800-647-5465.

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