It depends. You’ll need to confirm that you are eligible to transfer your shares out of the plan (ask your plan administrator). If you are, follow these steps:
If you are no longer an active employee:
- Ask the firm that holds your stock plan account to move your shares into a brokerage account that is eligible for “ACATS” transfers (moving shares between accounts at the same firm is sometimes referred to as “journaling”).
Note: make sure to move your shares into an account type that matches your Wealthfront account (e.g., If you want to transfer into a Wealthfront personal account, move your shares into a personal account at your other firm. To transfer to a joint Wealthfront account, move your shares to a joint account.)
- Once your other firm moves your shares into an ACATS-eligible account (this may take a few days), transfer your shares from your new account to Wealthfront by logging in to Wealthfront and clicking “Transfer or Rollover” at the top of your dashboard.
If you are still an active employee:
Ask your company’s HR department if you are subject to any stock trading blackout periods while you are in your current role. If you are subject to any blackout periods you may not move the restricted securities to Wealthfront until this restriction is lifted. Please note that you are responsible for confirming that you are not subject to any trading blackout periods before continuing with your transfer request. You are also responsible for maintaining compliance with your company's policies moving forward.
Nothing in this blog should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Financial advisory services are only provided to investors who become Wealthfront Inc. clients pursuant to a written agreement, which investors are urged to read carefully, that is available at www.wealthfront.com. All securities involve risk and may result in some loss. For more information please visit www.wealthfront.com or see our Full Disclosure. While the data Wealthfront uses from third parties is believed to be reliable, Wealthfront does not guarantee the accuracy of the information.