Transferring Accounts between Schwab and Edward Jones
In this article, we’ll discover:
• Investment accounts can easily be transferred between Schwab and Edward Jones.
• There can be fees for making such transfers in some cases.
• Cash can be moved through an ACH transfer, while securities can be sent through the ACATS network.
If you’re at Edward Jones but want to be at Charles Schwab, or if you’re in the opposite situation, it’s really easy to make the switch using a variety of electronic transfer methods. Here’s how to perform a transfer:
Moving from Schwab to Edward Jones
First Step: To get your account from Schwab over to Edward Jones, you’ll first need to open a corresponding account at Edward Jones (technically, the assets are transferred rather than the accounts themselves). The two accounts must have the same registration (Roth IRA or trust account, for example) and must have the same names on them. Either account could be a brokerage or investment-advisory account.
Second Step: With the Edward Jones account open, it’s time to prepare it for the impending migration. If you have a margin balance or option contracts coming over from Schwab, those privileges must be added to the Edward Jones account.
Third Step: The Schwab account must be prepped as well. Any asset that Edward Jones won’t accept must be handled in one of three ways:
• Move it to a second Schwab account.
• Exit the position.
• Perform a partial transfer and leave the asset in the original Schwab account.
Some assets, such as forex and futures contracts, Edward Jones will not accept. It’s possible that some mutual funds, bonds, annuities, and foreign assets won’t be accepted by Edward Jones, either.
Fourth Step: With both accounts set up correctly, it’s time to request a transfer through the Automated Customer Account Transfer Service (ACATS) network. This vital step is always handled by the incoming firm, which is Edward Jones in this case. You’ll need to contact your financial advisor and request an ACATS transfer from your Schwab account. Be sure to have your account number at Schwab handy.
Note about automated accounts: If the account at Schwab is a robo account, only cash can be moved out of it. Cash can be transferred through the ACATS or ACH network. To perform the latter type of transfer, link a bank account to both the Schwab and Edward Jones accounts and use it as a sort of middleman to move cash between the two investment accounts.
Moving from Edward Jones to Schwab
Going in the opposite direction follows the same basic procedures:
First Step: Head to Schwab application page and open a new account. An existing one can be used as long as it meets the two requirements mentioned above (same name and account registration as the Edward Jones account). The new account could be an advisory (including robo) or brokerage account. If it’s an automated account, only cash can be moved into it, which opens up the possibility of an ACH transfer only.
Second Step: The account at Schwab must be arranged for the upcoming move. Options and margin must be added if these will be coming from Edward Jones.
Third Step: The account at Edward Jones must be prepared, too. Any assets that Schwab won’t accept will need to be handled in one of the three ways mentioned in the previous section. There are some mutual funds at Edward Jones that Schwab may not accept. Be sure to verify on the Schwab site that specific funds are available for trading.
Annuities cannot be moved through the ACATS network because they are classified as insurance products; if you have any of these at Edward Jones, they will need to be handled separately.
Fourth Step: Once both accounts are fully ready for the transfer, it’s time for the transfer request. This can easily be submitted on the Schwab site. After logging in, click on the Move Money tab in the main menu. Scroll down and click on the button to transfer an account. Now you’ll see the online ACATS form. Near the bottom, there is a link for Edward Jones. Click on this to specify the outgoing firm. You’ll need to supply other details, such as the account type and number at Edward Jones. Go through and fill in all requested details, including whether you’re wanting a full or partial transfer. When everything has been filled in correctly, go ahead and submit the ACATS request.
After submitting the transfer request, you can follow the progress of a transfer on Schwab’s website. Look for the Recent Transfer Activity link that appears under the Move Money tab.
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Cost of an ACAT Transfer
Edward Jones charges $95 for a full outgoing ACATS transfer and nothing for an incoming or partial outgoing. Schwab’s outgoing ACATS fee is $50 for a full transfer and nothing for a partial. Neither firm charges anything for ACH transfers.
How Long Does an ACATS Take?
If no errors are made, an ACATS transfer will take about a week and a half from the time the request is submitted to the incoming firm.
Updated on 5/28/2025.
Chad Morris is a financial writer with more than 20 years experience
as both an English teacher and an avid trader. When he isn’t writing
expert content for Brokerage-Review.com, Chad can usually be found
managing his portfolio or building a new home computer.
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