How to Transfer a Brokerage Account

Stocks and mutual funds can be transferred between brokerage companies.

From time to time, an investor need to transfer the assets from one brokerage account to another. Rather than incur additional costs to liquidate stocks and mutual funds in order to transfer the cash assets, many investors prefer to move the assets as is. The process is not overly complicated as it is mostly handled internally by the stock brokerages, but it does require some planning and completion of certain forms.

Things You'll Need

• Account transfer forms
• Notary

Instructions

1. 

   Print the transfer request form directly from your home computer to save time.

   Call the receiving brokerage firm or visit the firm's website to request a TIF or Transfer Initiation Form. The receiving firm is the new brokerage to which you will be transferring your stocks and other securities. Upon request, the firm will send you a Transfer Initiation Form by mail. Most of the time, the TIF form can be downloaded from the firm's website and printed out from a home computer. Be sure you select the right form for the type of brokerage account you have, as some firms may have separate forms for different types of security accounts.

2. 

   Be sure to fill out the transfer request form properly to avoid delays.

   Fill out the form completely, and follow any special instructions included with the forms. Typically, you will be required to supply your name, address and Social Security number or tax identification number along with the account number of the account you are requesting to be transferred. Take care to fill out the form with your information as it appears on the original account. If you have changed your name but the account being transferred reflects your old name, fill in your old name on the account information line so there will be no questions during the transfer attempt.

3. 

   Some brokerages require transfer forms to be notarized.

   Send the form to the new brokerage account, following any special instructions for the transfer request. Some brokerage firms will instruct an investor to have the transfer request form notarized. In such cases, you would be required to sign the transfer request in front of an official notary public and have the form notarized prior to mailing it to the brokerage firm. Some brokerages also will request a copy of the most recent brokerage account statement from the existing brokerage account. This will allow the new brokerage firm to obtain the most correct account information in order to start an electronic transfer of funds.

4. 

   The transfer may take two to three weeks.

   Wait for transfer notification from your new brokerage. Transfers can several weeks to complete and may be delayed by ineligible securities such as bankrupt securities or funds that are not available at the new brokerage.

References

• US Securities and Exchange Commission: Transferring Your Brokerage Account: Tips on Avoiding Delays
• FINRA: Understanding the Brokerage Account Transfer Process
• Stock Market Investors: How to Transfer Your Brokerage Account Smoothly