How to Transfer Stock Between Brokerage Accounts
Transferring some or all of your stock from one brokerage account to another is possible thanks to the Depository Trust and Clearing Corporation. Using the Automated Customer Account Transfer Service (ACATS), you can transfer assets easily between accounts with fewer errors than there used to be when people completed this manually.
- Choose whether you want to do a full or partial transfer of your assets. The ACATS allows you to transfer an entire account or pick which assets you want to move. Most people choose to move their entire brokerage account due to dissatisfaction with the way that their assets and properties are being handled.
- Fill out all of the transfer paperwork. The firm that will be taking over your account will have all the information about your options and paperwork for you to fill out that you need to transfer your stocks over. You will have to give up-to-date information about your account such as the account number, amount to be transferred and your full name. Be especially careful when filling out information as to whether or not you are requesting a full or partial transfer. Be sure to proofread the paperwork before returning it to the brokerage firm.
- Be diligent about watching your account. Make sure that your transfer is completed within a few business days, usually no more than five. If it is not completed, you need to contact both brokerage firms to inquire about where your money is and why it hasn't posted to your new account.