It depends. Is the account you want to transfer yours? Or is it someone else’s account?
If you’re transferring your own account, but your last name has changed (e.g., marriage):
Update your name on file with the firm that has your old name (you may have to provide some documentation of your name change). If Wealthfront has your outdated name, email us your new name at email@example.com, and upload documentation (e.g., your marriage certificate) using our secure Document Uploader.
If you’re transferring your own account, and another part of your name is different (e.g., middle name, nickname, suffix):
Your transfer may be rejected by your current firm, but some firms are more strict than others so it can be hard to predict. To reduce the risk of having your transfer rejected, we recommend making sure that all firms have your full legal name on file before submitting requesting your transfer.
If you’re transferring someone else’s individual retirement account (IRA):
The owner of the IRA will need to transfer it into their own Wealthfront IRA under their own Wealthfront login (Wealthfront profiles are associated with an individual social security number, and IRAs are individual accounts). Once the IRA owner has transferred their IRA to Wealthfront, you can link their profile to yours to get a household-level view of your finances.
If you’re transferring someone else’s investment account (not a retirement account):
You have three options:
- The owner of the account can transfer the account to their own Wealthfront account under their own Wealthfront login. You can then link their Wealthfront profile to yours to get a household view of your finances.
- Work with your other firm to convert the account to a joint account that has the same owners as your Wealthfront joint account. Then resubmit the transfer.
- Transfer the funds from the other firm to a bank account, then schedule a deposit from your bank account to your Wealthfront account. Note that selling investments at the other firm in order to move the funds to a bank account would be a taxable event. Consult a tax advisor with any questions.
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.