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 plan to automate journaling between Wealthfront accounts by the end of 2018. 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.
Wealthfront prepared this article for informational purposes and not as an offer, recommendation, or solicitation to buy or sell any security. Wealthfront and its affiliates may rely on information from various sources we believe to be reliable (including clients and other third parties), but cannot guarantee its accuracy or completeness. See our Full Disclosure for more important information.
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