Ellevest clients can choose to transfer part or all of their investment account and/or IRA to another provider.
In order to transfer your Investment Account and/or IRA, you'll need to initiate the process from your new provider.
Ellevest works with Goldman Sachs Custody Solutions (formerly Folio Investing), an independent third party, to act as custodian, to safeguard your assets and to provide clearing and execution of transactions in your account based on our instructions. At this time, you'll still be using Folio Investing for your transfer.
You'll need your Goldman Sachs Custody Solutions (formerly Folio) account number(s) to complete this process. You can find your account number(s) by clicking on the user menu at the top right-hand side of your dashboard. Under the Accounts option, select the correct account type to view your account number. There are no taxes associated with an IRA transfer to another provider.
If your new provider supports ACATs transfers, they'll submit the transfer request(s) electronically. Otherwise, the transfer paperwork should be sent directly to our custodian:
8180 Greensboro Drive
McLean, VA 22102
Fax: 1 (703) 649-6288
Toll-free: 1 (888) 485-3456
Please contact the Client Support team if your new firm requires that you liquidate your Investment Account and/or IRA first. Also, please note that Goldman Sachs Custody Solutions charges a $100 fee per account for transferring an Investment Account and/or IRA to another institution.
If you're transferring part of an account, Goldman Sachs Custody Solutions charges $5 per security, with a $25 minimum and $75 maximum. You'll need to confirm which securities you'd like to transfer out on your transfer paperwork.
If you transfer your IRA (Roth or Traditional) and the check is made payable to you, you have up to 60 days to deposit that check into another IRA to avoid taxes or penalties. This can be done once per 12-month period.
Finally, if you wish to cancel your Ellevest account, once the transfer has been initiated by your new provider, please contact the Client Support team so we can finish the cancellation process.