There is no fee for transferring your account from Wealthfront to another broker. Please keep in mind that transfers can only 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 Automated Customer Account Transfer Service (ACATS), here’s how to transfer your account to another broker:
You can transfer in-kind from your Wealthfront account to another broker. The transfer is 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 Correspondent Services - 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 that are part of your Wealthfront diversified portfolio or positions that are pending transition into your diversified portfolio.
Also, if your account holds the Wealthfront Risk Parity mutual fund we will liquidate the position and deliver the proceeds to your new firm, which can take approximately a week after the initial transfer.
Non ACAT-Eligible Firm
Transferring out a Taxable Account
To transfer a taxable account to a non-ACAT eligible firm you’ll have to liquidate your Wealthfront account, transfer the funds from your Wealthfront account to your bank account on file and then from your bank to your new firm. To liquidate your account, log in and, from the dashboard, select an individual account by clicking on the account name. Click the “Transfer Funds” button and then select “Withdraw funds” and the “Sell everything” option. You will receive your funds via bank transfer (ACH). Please note that liquidating your account may incur taxes and withdrawals typically take 5-6 business days to complete. Please consult 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 Corporation
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-ACAT 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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