Brokerage accounts cannot simply be retitled like most bank accounts. Instead, a brand new account with an updated title must first be opened and then the assets are “journaled” from the old account to the new account.
We have not yet automated journaling so we currently do not support moving positions in-kind from one Wealthfront account to another. Journaling is more complicated than it might appear because it requires not only transferring the securities held in an account, but all transaction history and open tax lot data as well. If not done correctly it can cause numerous issues for our clients, particularly those employing our Daily Tax-Loss Harvesting and Stock-level Tax-Loss Harvesting strategies. We'll update this FAQ as soon as this service is available.
Please contact us if you absolutely must make this change due to a legal requirement or other pressing need (typically because of a death or divorce) and we'll handle your case in the order in which it was received.
This communication has been prepared solely for informational purposes only. Nothing in this communication should be construed as an offer, recommendation, or solicitation to buy or sell any security or a financial product. Any links provided to other server sites are offered as a matter of convenience and are not intended to imply that Wealthfront or its affiliates endorses, sponsors, promotes and/or is affiliated with the owners of or participants in those sites, or endorses any information contained on those sites, unless expressly stated otherwise.
Wealthfront offers a free software-based financial advice engine that delivers automated financial planning tools to help users achieve better outcomes. Investment management and advisory services are provided by Wealthfront Advisers LLC, an SEC registered investment adviser, and brokerage related products are provided by Wealthfront Brokerage LLC, a member of FINRA/SIPC.
Wealthfront, Wealthfront Advisers and Wealthfront Brokerage are wholly owned subsidiaries of Wealthfront Corporation.
© 2020 Wealthfront Corporation. All rights reserved.