Managed Account Platform Section

How to move money for managed accounts

How to move money for managed accounts

Money movements for managed accounts include distribution and account rebalancing requests. Distribution requests transfer assets out of a Managed Account Select ® ( Select Tooltip ), Managed Account Access ® ( Access Tooltip ), or Managed Account Marketplace ® ( Marketplace Tooltip ) account on either a one-time or a recurring basis.

You can also rebalance your clients' managed accounts by requesting to move money between their managed accounts.

Your client's account balance and the money manager's account minimum may affect the money manager's ability to accommodate your client's requests. Refer to the Managed Account Select Overview or Managed Account Access Overview tabs for more information on account minimums.

Request these money movements online using the Move Money tool or the appropriate forms.

Required
All accounts
  • Firm name, contact information, and managed account master
  • Account holder's name and Schwab account number for withdrawal
  • Adobe® Reader® or Adobe Acrobat® 7.0 or higher (download the latest version on the Adobe website)
Conditional
 SituationRequirement
All accountsMoving funds through a journal entrySchwab account number
Completing transactions on behalf of your clientA standing letter of authorization (SLOA) on file,  Withdrawal power financial advisor (WPFA) , or Withdrawal power financial advisor-custody (WPFA-C)  privileges on the account
Completing retirement distributions with WPFA

Client tax-withholding elections need to be on file with Schwab.

If this is the client's first distribution, a completed distribution form or tax-withholding election form on file stating the client's federal and state tax-withholding elections

Using the Move Money tool Update Move Money access Tooltip security function
Using DocuSign® to submit forms
  • For existing Schwab clients, a complete Schwab Advisor Center® profile with the account holder's current email address and mobile phone number
  • For new-to-Schwab clients, the email address and a mobile phone number
  • All clients must use either Alliance Authentication (only available when starting the envelope within Schwab Advisor Center), or, both text message (SMS) authentication and Knowledge Based Authentication (KBA) for DocuSign (available in both Schwab Advisor Center and the DocuSign Console)

These resources may be used to complete distribution requests online using the Move Money tool for a Select, Access, or Marketplace account. For Marketplace accounts only, notify the money manager before submitting a move money request. Select and Access accounts may not set up Schwab MoneyLink on-request outbound profiles.

When requesting the first-time distribution from an IRARefer to the "How to request the first retirement distribution from an IRA" module on the How to request a retirement distribution page for instructions.
Subsequent retirement distributionsRefer to the instructions in the resources listed above
  1. Go to the Forms library on Schwab Advisor Center and select the applicable form below for the appropriate managed account type.

    For Select or Access accounts, select one of the following forms:For Marketplace accounts, select one of the following forms:
    • Managed Account Select/Access Withdrawal Form
    • IRA Distribution Form
    • Check and Journal Request Form
    • MoneyLink (ACH)
    • Wire Transfer
    • IRA Distribution Form 
  2. Complete the form and obtain client signatures:
    • For DocuSign eligible forms, see How to use DocuSign.
    • For forms not eligible for DocuSign, obtain signatures from the necessary account holders.
  3. An authorized agent of your firm may sign the form if one of the following applies:
    • Your client has signed an SLOA.
    • Your client has given your firm disbursement authority and the distribution is journaling to an account of identical registration, or a check is being sent to the registered account holder at the address of record.
  4. For Marketplace accounts only, notify the money manager before submitting a move money request.
  5. Send the signed forms to Managed Account Operations via a Schwab Advisor Center Service Request. Alternatively, you can mail the signed form to the following addresses:

    East CoastWest Coast
    Regular mail:
    Charles Schwab & Co., Inc.
    Attn: Managed Account Operations
    P.O. Box 2380
    Omaha, NE 68103
    Regular mail:
    Charles Schwab & Co., Inc.
    Attn: Managed Account Operations
    P.O. Box 982603
    El Paso, TX 79998-2603
    Overnight mail:
    Charles Schwab & Co., Inc.
    Attn: Managed Account Operations 
    200 S 108th Ave
    Omaha, NE 68154
    Overnight mail:
    Charles Schwab & Co., Inc.
    Attn: Managed Account Operations
    1945 Northwestern Drive
    El Paso, TX 79912-1108

Requests for recurring distributions on a Select or Access managed account are subject to the money manager's approval to accommodate the distribution request. This process may be used for a recurring distribution from a managed account.

  1. Go to the Forms library on Schwab Advisor Center and select the applicable form below for the appropriate managed account type.

    For Select or Access managed accounts:For Marketplace managed accounts, select one of the following forms:
    • Managed Account Select/Access Investment Restrictions Form and;
    • Check and Journal Request Form or
    • IRA Distribution Form 
      • Investment Restriction Form is not required for ThomasPartners, Schwab Personalized Indexing, or Windhaven accounts on the Managed Account Access® Platform
    • Check and Journal Request Form
    • MoneyLink (ACH)  
    • IRA Distribution Form 
  2. Complete the form and obtain client signatures:
    • For DocuSign eligible forms, see How to use DocuSign.
    • For forms not eligible for DocuSign, obtain signatures from all account holders.
  3. An authorized agent of your firm may sign the form if one of the following applies:
    • Your client has signed an SLOA.
    • Your client has given your firm disbursement authority and the distribution is journaling to an account of identical registration, or a check is being sent to the registered account holder at the address of record.
  4. For Marketplace accounts only, notify the money manager before submitting a move money request.
  5. Send the signed forms to Managed Account Operations via a Schwab Advisor Center Service Request. Alternatively, you can mail the signed form to the following addresses:
East CoastWest Coast
Regular mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
P.O. Box 2380
Omaha, NE 68103
Regular mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
P.O. Box 982603
El Paso, TX 79998-2603
Overnight mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations 
200 S 108th Ave
Omaha, NE 68154
Overnight mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
1945 Northwestern Drive
El Paso, TX 79912-1108

Dividend and interest payment options vary by money manager and are available at Schwab as accrued or monthly.

  1. To determine whether a Select or Access money manager offers income distributions, review the Managed Account Select Recurring Income Distribution Options tab or the Managed Account Access Recurring Income Distribution Options tab on Schwab Advisor Center.
  2. Go to the forms library on Schwab Advisor Center and select the applicable form below for the appropriate managed account type.

    For Select or Access accounts:For Marketplace accounts, select one of the following forms:
    • Managed Account Select/Access Investment Restrictions Form and;
    • Check and Journal Request Form or
    • IRA Distribution Form or
    • Managed Account Select/Access Pay Income Form
    • MoneyLink (ACH) 
    • Check and Journal Request Form
    • IRA Distribution Form 
  3. Complete the form and obtain client signatures:
    • For DocuSign eligible forms, see How to use DocuSign.
    • For forms not eligible for DocuSign, obtain signatures from all account holders.
  4. An authorized agent of your firm may sign the form if one of the following applies:
    • Your client has signed an SLOA.
    • Your client has given your firm disbursement authority and the distribution is journaling to an account of identical registration, or a check is being sent to the registered account holder at the address of record.
  5. For Marketplace accounts only, notify the money manager before submitting a move money request.
  6. Send the signed forms to Managed Account Operations via a Schwab Advisor Center Service Request. Alternatively, you can mail the signed form to the following addresses:

    East CoastWest Coast
    Regular mail:
    Charles Schwab & Co., Inc.
    Attn: Managed Account Operations
    P.O. Box 2380
    Omaha, NE 68103
    Regular mail:
    Charles Schwab & Co., Inc.
    Attn: Managed Account Operations
    P.O. Box 982603
    El Paso, TX 79998-2603
    Overnight mail:
    Charles Schwab & Co., Inc.
    Attn: Managed Account Operations 
    200 S 108th Ave
    Omaha, NE 68154
    Overnight mail:
    Charles Schwab & Co., Inc.
    Attn: Managed Account Operations
    1945 Northwestern Drive
    El Paso, TX 79912-1108
  1. Review your client's managed accounts to determine which accounts are out of balance.
    • To quickly view the balances of multiple managed accounts for the same client, use the group manager to set up client managed account groups.
  2. Go to the forms library on Schwab Advisor Center and select the applicable form below for the appropriate managed account type.

    For Select or Access managed accounts, select one of the following forms:For Marketplace managed accounts, select one of the following forms:
    • Managed Account Select/Access Withdrawal Form
    • IRA Distribution Form
    • Check and Journal Request Form
    • IRA Distribution Form
  3. Complete the forms and obtain client signatures:
    • For DocuSign eligible forms, see How to use DocuSign.
    • For forms not eligible for DocuSign, print the forms and obtain signatures from all account holders.
  4. An authorized agent of your firm may sign the form if one of the following applies:
    • Your client has signed an SLOA.
    • Your client has given your firm disbursement authority and the distribution is journaling to an account of identical registration, or a check is being sent to the registered account holder at the address of record.
  5. For Marketplace accounts only, notify the money manager before submitting a move money request.
  6. Send the signed forms to Managed Account Operations via a Schwab Advisor Center service request. Alternatively, you can mail the signed form to the following addresses:
East CoastWest Coast
Regular mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
P.O. Box 2380
Omaha, NE 68103
Regular mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
P.O. Box 982603
El Paso, TX 79998-2603
Overnight mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations 
200 S 108th Ave
Omaha, NE 68154
Overnight mail:
Charles Schwab & Co., Inc.
Attn: Managed Account Operations
1945 Northwestern Drive
El Paso, TX 79912-1108
  • If forms were submitted using DocuSign, see the What's next? section of How to use DocuSign.
  • Processing for forms is three to five business days once all the paperwork is complete.
  • If a check remains outstanding for longer than 180 days, Schwab considers it "stale-dated." Some checks are automatically voided and funds re-credited to client accounts.
  • Clients have seven days to approve an electronic authorization wire. After seven days, any unauthorized wires will be canceled, and you will receive an alert.
  • If a MoneyLink profile has already been established, the MoneyLink transaction will remain in pending status until processed. The cutoff time for same-day transfers is 5:30 p.m. ET.

Processing for the Move Money tool:

  • For requests submitted online, the acknowledgement page in the Move Money tool provides confirmation that your transaction has been submitted. You can print this page for your records.
  • Within the Master Status view of the account, you can access the Move Money Activity Report, which displays all requests entered on a particular day by your firm or Managed Account Operations, or any requests the client may have entered online.
  • If you need to modify an existing distribution request in the Move Money tool, return to the Account Status view for the selected account. Locate the transaction to be edited, and click the link to view, edit, or cancel. Make any necessary changes and submit.
  • If you submit the distribution through the Move Money tool, the transaction will remain in pending status until the form is received and processed by Managed Account Operations. The time it takes to process the distribution is determined by the transaction type.

If you have questions about filling out forms or using Schwab Advisor Center to move money in managed accounts, contact Managed Account Operations at 877-595-6345 or via a Schwab Advisor Center service request.

To select a form, go to the Forms library on Schwab Advisor Center.

Form: Check and Journal Request Form
Form: IRA Distribution Form
Form: Managed Account Select/Access Investment Restrictions Form
Form: Managed Account Select/Access Pay Income Form
Form: Managed Account Select/Access Withdrawal Form
Form: MoneyLink (ACH)
Form: Wire Transfer

If an online-managed account distribution is rejected, how am I notified?
If submitted through the Move Money tool, you will receive an alert. Refer to Introduction to alerts for more information.

Do clients have to withhold taxes from a retirement distribution?
Clients may choose not to have taxes withheld; however, there are situations that require them to pay federal and state income taxes on their retirement account distributions. Consult with a tax advisor for more information.

If multiple signers are assigned to a form for electronic signature, in which order do the signers receive and electronically sign the form(s)?
The order in which the signers are notified that a document is pending electronic signature depends on the order in which you listed the signers on the envelope-creation page. Signers receive an email notification in sequential order after each signer has completed their signing.

If my client makes changes to a form when electronically signing, will I be notified of the changes?
No. Once all signers have completed their electronic signatures, you will not be able to edit any of the information. However, if you have elected to review the forms prior to submitting to Schwab, you will have an opportunity to review the forms.

How to request a retirement distribution
How to submit a check request online
How to submit a journal request online
How to submit a Schwab MoneyLink® transfer
How to submit an outbound wire transfer online
How to use DocuSign®
Introduction to alerts
Introduction to managed accounts
Introduction to Schwab MoneyLink®
Introduction to the Move Money tool