The Automated Customer Account Transfer Service (ACATS) allows securities to be transferred electronically from one firm to another. You can transfer both investment accounts and IRA accounts (traditional, Roth, or SEP) to your Ellevest Digital/Premium/membership account through ACATS if your current firm participates.
Some of the benefits of an ACATS transfer include:
- It’s faster than a non-electronic transfer. It typically takes 2 weeks to complete. For Non ACATS transfers, the process can typically take up to 6 weeks.
- It may be a less expensive way to transfer your assets. When you sell your assets prior to the transfer, you may pay fees to your current firm for the sale of those securities. Should Ellevest Digital/Premium/membership need to sell any of your assets when your IRA securities arrive, you will incur no additional Ellevest fees.
- Note: Transferring an investment account may incur realized capital gains and/or losses.
- Note: The ACATS transfer process is only available if your current provider is set up for ACATS and if Folio is able to custody your securities. For more details, please visit our FAQ on the ACATS Process.
If you’re an Ellevest client, you can click on Transfer Money in your Ellevest account to get started with your transfer! If you’re not an Ellevest client yet, sign up here.