How to Transfer a Brokerage Account


With all the excellent online stock brokers available, sometimes one of the smartest financial moves is to transfer a brokerage account. You could save money by switching to a broker with lower fees, and your new broker may give you more investment options as well.

If you haven’t done this before, you might wonder what’s the best way to move your investments from your old broker to the new one. To help you get your new brokerage account set up without a hitch, we’re going to cover the process to transfer a brokerage account.

How to transfer brokerage accounts

To transfer a brokerage account, you’ll need a brokerage account with your new broker (the one that will receive the transfer). Once you’ve set that up, here’s what to do:

  1. Log in to your account with the new broker.
  2. Go to the transfer page. Where you find this depends on the layout of the broker’s website. If you have any trouble finding it, contact the broker for assistance.
  3. Choose the option to transfer a brokerage account. This should take you to the broker’s transfer form.
  4. Fill out the form with the required information.

Enter your account information with your old broker on the transfer form.

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After you submit the form, the transfer process is mostly a hands-off affair. The action happens behind the scenes, as your new broker communicates with your old broker to get your investments moved over.

It usually takes six business days to transfer a brokerage account. Your old broker validates the information within three business days and transfers the assets within another three business days. It can take longer, though, particularly if there are any discrepancies during the validation process.

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