Wealthfront Transfer Fee (ACAT on Brokerage and IRA Accounts) 2020


How much does Wealthfront charge in ACAT fee for full and partial IRA and taxable brokerage account transfer (stock positions, mutual funds, and ETF's). Cost of Wealthfront transfer fee on account eligible assets, address; and outgoing wire charges.



Wealthfront ACAT Fee


Wealthfront ACAT fee cost is $0 for a full account transfer and $0 for a partial account transfer (stock positions, mutual funds, and ETF's). Yes, Wealthfront does not charge fees to transfer account to another broker.

You can transfer in-kind from your Wealthfront account to another broker. The transfer is initiated by the receiving firm, so please reach out to them to arrange the transfer. Most likely they will ask where your account is held (RBC Correspondent Services - DTC Number 0235) and for your 8Wxxxxxx account number, which can be found by clicking on "Settings" and then the title of your account on the left side of the screen.

Please note that Wealthfront doesn’t allow in-kind partial transfers of positions that are part of your Wealthfront diversified portfolio or positions that are pending transition into your diversified portfolio.

Also, if your account holds the Wealthfront Risk Parity mutual fund Wealthfront will liquidate the position and deliver the proceeds to your new firm, which can take approximately a week after the initial transfer.


Wealthfront Wire Transfer Fees


To obtain the instructions on how to wire transfer, please log into your dashboard and click Transfer funds => Put money in => Use Same-day wire. All wire transfers must come from an account where you are listed as an owner. Wealthfront cannot accept wire transfers from a third party (i.e. title company). Wealthfront do not charge any fees for wire transfers.


Popular Transfer Destinations from Wealthfront


Broker Review Promotion
Offer
Stock/ETF
Commission
Mutual Fund
Commission
Maintenance
Fee
Annual IRA
Fee
TD Ameritrade $0 commissions + transfer fee reimbursement. $0 $49.99 $0 $0
Ally Advisors $0 Advisory Fees at Ally Invest Cash-Enhanced Managed Portfolio! $0 $0 $0 $0
WeBull Get 4 FREE stocks valued up to $1,600 + $100 in ACAT reimbursement. $0 na $0 $0







Pros and Cons of Robo-Advisor and Discount Brokerage Firms for Beginners


If you are brand new to investing then you are probably wondering which type of broker is best to use (discount vs. full-service) and whether or not you should use one of the robo-advisory services that have become increasingly popular. There are pros and cons to both sides of these decisions. We’ll discuss them here in this article to help you decide which is best for you.


Discount Brokerage Firms Have Lower Costs


Discount brokers are generally characterized by those brokers with no or very low trading commissions and fees, and popular examples include Robinhood, Firstrade, and WeBull. Low trading costs are attractive to anyone, but especially to beginners with smaller accounts because it gives them a way to get their feet wet in the market without trading costs eating up a significant portion of their small capital base.


Discount Brokers Tend to Offer Fewer Services


On the flip side of the low costs, discount brokers generally offer fewer account features and services than the full-service brokers. This makes sense because offering a robust account and trading platform with access to many different types of securities costs more to maintain and support, and discount brokers that aren’t collecting commissions will have less revenues to afford these costs.

For example, many discount brokers will stick to the basic investment types, like stocks and ETFs, whereas full-service brokers tend to also support mutual funds, fixed income, and various derivatives. Investors also generally find more company information and research tools, like research reports and stock screeners, with full-service brokers. Full-service brokers also generally have more robust trading platforms (like TD Ameritrade’s Thinkorswim) with extra features (like direct-routing and trade-building tools for complex, multi-options trades).

Most investors would also agree that the customer service at discount brokers leaves a lot to be desired. Most discount brokers have help sections to answer basic questions but if you need to contact the broker via phone regarding a more complex inquiry this can be challenging with many discount brokers not offering sufficient phone support (or any at all). Getting in touch with a rep from a full-service broker, like Ameritrade, for example is generally a quick and easy process.


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Robo-Advisors


Robo-advisors are AI-managed portfolio managers that are becoming more and more popular, and are offered in some form or another by most full-service brokers (often for an extra cost). As the name implies, brokers with this service use artificial intelligence to build and manage a portfolio customized for your situation.

The robo-advisor will generally ask you a series of questions about your current financial condition, your appetite for risk, and your investing goals. Based on your responses, the robo-advisor will build you a portfolio (usually made up of low-cost ETFs and mutual funds) and rebalance it for you as needed. If you have significant life events or changes impacting your investment time horizon or cash needs (i.e. saving for kids’ college tuition), you can update your profile and the robo-advisor will make any necessary adjustments to your portfolio.


How Good Are the “Robo Returns”?


Robo-advisors are a popular option for those who want to invest for specific goals but don’t have the financial know-how (or desire to learn it) to invest on their own. Robo-advisors do all of the money managing for you, and generally for a relatively low advisory fee (usually 0.25% to 0.60%).


Summary


In short, discount brokers are generally good for beginners and those with smaller accounts as it’s a great way to get exposure to the market and begin investing without having to pay much (or any) trading costs. Discount brokers don’t have all the bells and whistles that full-service brokers offer, but many of these tools can be found for free online, and you can always upgrade to one of these brokers once you feel you have enough experience to use these tools. Robo-advisors are a great option for those who want a customized portfolio to fit their goals but don’t have the financial expertise or time to invest on their own.


Wealthfront Account Transfer Out Fee Disclaimer


For the most recent information on Wealthfront ACAT fees (full and partial account transfer out, wire transfer and ACH charges, ACAT eligibility status) visit their website.