If your other institution is unable to transfer your account through the industry-standard Automated Customer Account Transfer Service (ACATS) we will not be able to request the funds on your behalf.
If you wish to proceed with the transfer:
- Liquidate your existing account and move the funds to your bank account.
- Transfer the cash from your bank account to Wealthfront by logging in to Wealthfront and clicking “Transfer Funds” on the dashboard.
Please note that this may be a taxable event. If you have questions about how this may impact you, please consult your tax advisor.
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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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