Firstrade

How to Transfer a Fidelity Account to Charles Schwab, Vanguard, Ally, TD Ameritrade, or Etrade


How to move Fidelity account/IRA/stocks/broker portfolio/move money to Charles Schwab, Ally Invest, Merrill Edge, Vanguard, or TD Ameritrade



Transfer a Fidelity Account to Another Firm


Fidelity customers who are thinking about trying out a new brokerage firm might want to consider Schwab, TD Ameritrade, Vanguard, E*Trade, or Ally Invest. Transferring a Fidelity account to one of these firms isn't that complicated. Here's a rundown on how to do it.



The Fidelity Side


The new broker handles the forms, electronic or paper, for completing a brokerage account transfer. The old broker might charge a fee for the transfer. After all, they don't want you to leave. Fidelity is nice enough to charge nothing. This policy applies to both full and partial transfers. However, the broker does charge $50 for transferring an IRA, although SIMPLE IRA's are exempt from the fee.



How to Move Fidelity Account to E*Trade


To make transferring an account quick and easy, E*Trade has a simple on-line form to submit an account transfer request. A transfer can take as long as 2 weeks with this broker. Make sure you don't need to trade securities during that time. When completing the form, you first need to select the name of the old broker; in this case, it's Fidelity. Next, choose the account type, such as a Traditional IRA. You must also select the E*Trade account you want to transfer to. The account types must match. For example, a 401(k) plan can't be transferred to a joint account. The form also asks for the title of the Fidelity account. This is just the account holder's name. E*Trade requires a Fidelity brokerage statement with the application. Fortunately, the statement can be submitted on-line. On the E*Trade website, there is a handy account transfer FAQ. It answers several important questions on transferring accounts.


How to Transfer a Fidelity Account to Etrade



Promotions


Ally Invest: Up to $3,500 cash bonus + commission free trades for new accounts.

TD Ameritrade: Trade free for 60 days + get up to $600.

E*Trade: At E*TRADE, get $6.95 trades + 65₵ per options contract.

Charles Schwab: Make $100,000 deposit and get 500 commission-free online equity and options trades.




How to Move Fidelity Account to Schwab


Schwab also has a user-friendly transfer form on its website. To complete the form, you first want to enter the name of the broker where the current account is located—Fidelity in this case. This broker is highlighted by Schwab below the search field. Just click on it. After choosing Fidelity, you need to pick the type of account you want to move, such as a trust or a regular brokerage account. Now enter your Fidelity account number. You'll also need to specify if you want to transfer the whole account or just a selection of securities. Finally, be sure to choose the Schwab account you would like to transfer to. Schwab states that it can take as long as 6 weeks, or even more, for the transfer to complete; although these transfers typically are completed sooner than that.


How to Transfer a Fidelity Account to Charles Schwab



How to Move Fidelity Account to Vanguard


New Vanguard clients can also use a handy on-line form. Doing so makes the process quick and easy. Once you're logged into the Vanguard site, it's time to find the form. The easiest way to do this is to type 'Transfer Account' in the search field, which appears in the upper-right corner. After performing the search, the form will appear. Start by entering Fidelity as the broker to be transferred from. You'll need to enter the approximate value of the Fidelity account. A partial transfer is possible, in which case you want to be sure to enter the particular assets you're transferring. The Vanguard form has a nice feature that allows an application to be saved. There's also a phone number displayed on the screen. If you need any assistance filling out the form, be sure to give the broker a call. Useful questions about account transfers also appear at the bottom of the screen.


How to Transfer a Fidelity Account to Vanguard


Recommended Articles


Fidelity competitors
Stock trading companies
Ally Invest free trades


How to Move Fidelity Account to TD Ameritrade


The on-line form at TD Ameritrade can be found by going to 'My Account' then clicking on 'Other Transfers' under 'Deposits & Transfers'. Live chat is available with a transfer specialist. The broker also displays a customer service phone number in the right-hand side of the screen. Ask Ted is a robo chat service offered on the TD Ameritrade website. It is able to answer questions about transferring accounts. Finally, there is a small FAQ devoted to transfer issues. A statement from Fidelity needs to be submitted to TD Ameritrade. The broker promises 5-8 business days for complete transfers and 3-4 weeks for partial transfers.


How to Transfer a Fidelity Account to Ameritrade



How to Move Fidelity Account to Ally Invest


The best priced company in this list and the only broker that doesn't have an on-line form is Ally Invest. Clients who want to transfer assets to Ally Invest must fill out a paper form. It is available on the broker's website in pdf format. Ally Invest promises to reimburse Fidelity's IRA transfer fee when transferring at least $2,500. Evidence of the charge must be submitted to Ally Invest. The transfer form can be submitted via fax, e-mail, or an upload system on the Ally Invest website. The broker also requires a Fidelity statement to accompany the transfer form. The whole process takes less than 2 weeks to complete.



Summary


Moving securities from Fidelity to another broker is fairly straightforward. Picking a broker that has an on-line transfer form makes the process that much easier. Even better, Fidelity charges no fees for most accounts.