Here’s a bit more information about how the ACATS transfer process for investment accounts to Ellevest Digital and Premium.
What securities are Folio unable to custody?
Folio is unable to custody securities that include proprietary or load mutual funds, money market funds, bonds, foreign securities, unit investment trusts and CD’s.
If Folio receives any money market funds, they will automatically liquidate the funds. For any other securities on this list, they will send them back to your current provider for liquidation. Please note that this will delay the transfer process, so if you have securities that Folio cannot custody, please have them liquidated prior to initiating the transfer.
When will Folio liquidate securities from my transfer?
When your securities arrive at Folio, Ellevest will instruct Folio to sell any security that cannot be used to create an Ellevest Digital/Premium diversified portfolio for you at market. (Typically all securities but those listed here.) If you’re holding company stock or any securities that you feel requires a particular trading strategy, you should sell these securities before bringing them to Ellevest.