Can I transfer the securities in my account to another firm?
Yes, and there are no fees to transfer from your Wealthfront account to another broker.
Transfers can be completed when the account information (account type, account owner name, account owner address, etc.) matches on both sides. Depending on whether your new firm is part of the industry-standard ACATS (Automated Customer Account Transfer Service), which is true for the vast majority of brokerage firms, here’s how to transfer your account to another broker:
You can transfer in-kind from your Wealthfront Automated Investing Account or your Wealthfront Stock Investing Account to another broker via the ACATS system. The transfer must be initiated by the receiving firm, so please reach out to them to arrange the transfer. Most likely, they will ask where your account is held (RBC Clearing & Custody - DTC Number 0235) and for your 8Wxxxxxx account number, which can be found by clicking on "Settings" and then the title of your account on the left side of the screen.
Please note that we don’t allow in-kind partial transfers of positions from Wealthfront Automated or Stock Investing Accounts.
In addition, if your account holds the Wealthfront Risk Parity mutual fund, we will liquidate the position and deliver the proceeds to your new firm. This can take approximately a week following the completion of the initial transfer.
Non ACATS-Eligible Firm
Transferring out a Taxable Account
To transfer a taxable account to a non-ACATS eligible firm, the account would first need to be liquidated and withdrawn to your linked external bank account before subsequently making a cash deposit to your account at the new firm. To liquidate and withdraw from an automated taxable investing account: log in to our website and click Transfer money then follow the prompts for a withdrawal. For a Stock Investing Account, simply navigate to your stock portfolio dashboard and tap Sell. Once the trades settle, funds will be swept into your Cash Account. From there, you can either transfer directly to your brokerage account (if eligible), or withdraw the funds to your external bank. Withdrawals from investing accounts typically take 3-4 business days to complete. Please note that liquidating securities within a taxable account is a taxable event. We would recommend consulting your tax advisor for more information on how this will impact your tax situation.
Transferring out an IRA
Please work with your new firm to complete their transfer paperwork and obtain a Medallion Signature Guarantee. If your new firm does not offer a Medallion Signature Guarantee your bank may be able to help. You can upload the completed paperwork through your Wealthfront dashboard by clicking the “Documents” link at the top of your dashboard and then the “Upload” button. You can also fax the complete paperwork to 800-366-1679 or mail it to us at the following address:
Wealthfront Brokerage LLC
Attn: Brokerage Operations
261 Hamilton Avenue
Palo Alto, CA 94301
When we process your request, we will liquidate your positions and send the cash proceeds to your new firm. IRA transfers to non-ACATS eligible firms typically take 2-4 weeks to complete.
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Wealthfront prepared this article for informational purposes and is not intended as tax advice nor as an offer, recommendation, or solicitation to buy or sell any security. Wealthfront does not represent that any strategy will result in any of the outcomes described, including the effectiveness of any strategy in reducing tax liability, as this depends on an investor’s specific tax and investment profile. Investors are encouraged to consult their personal tax advisors regarding their unique circumstances and any outcomes/consequences that may result from any investment strategy. Investors and their personal tax advisors are responsible for how the transactions in an account are reported to the IRS or any other taxing authority.
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