Closing an Investment Account

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When closing an investment account due to a move or disinterest, it's important to report this information to the office of the company. Find out what paperwork needs to be filled out to close an investment with help from a registered financial consultant in this free video on investing and money management.

Part of the Video Series: Investment Basics
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Video Transcript

This is financial adviser Patrick Munro talking about closing an investment account. If you're closing an investment account because you've moved or because you just no longer want to invest in that particular company, make sure you report to the office of the company. And make sure that you sign the appropriate papers to make sure that all your funds are disgorged from that company and that you are no longer responsible for any activity on the account or fees generated from that activity as for the date that you close the investment account. Really, it's about paperwork to make sure that all gateways are closed and that responsibilities are looped in and tied off because the world of investment is an ever-perpetuating cycle, and you need to have a start and a finish. If your office is not local and you're working with a discount broker on a toll-free number, then you can download the forms that they send you and those are time-stamped, et cetera. In fact, some back to close the account. This is Patrick Munro talking about closing an investment account.


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