How to Transfer From Stash to Fidelity (and Vice Versa)
If Stash’s monthly fee is cutting into your account balance, you can move your investments to Fidelity and avoid the charge altogether. Follow our step-by-step guide to learn how to make the switch.
Step One: Open an Account at Fidelity
To transfer your Stash investment account, you don’t need to do anything at Stash itself. All the necessary paperwork (handled electronically) will be done on the receiving end, which is Fidelity in this case.
Start by opening a new brokerage account
through Fidelity’s website. At the top, click the OPEN AN ACCOUNT link. This will bring you to Fidelity’s account opening page, where you’ll see a list of account types. Choose the one you want to open and provide the requested information. Your new account will be ready quickly.
Fidelity has many different account types, so make sure you select the one that matches your Stash account. For example, if you have a taxable individual account at Stash, you need to open a taxable individual account at Fidelity. If the account types don’t match, your transfer request will be denied. The names on both accounts also need to be identical.
Step Two: Submit an ACAT Request
Once your new Fidelity account is open, it’s time to start the transfer. As mentioned earlier, everything is handled on Fidelity’s side, so you’ll need to submit the request within your Fidelity account. Fidelity has a simple online ACAT form, making the process quick and straightforward.
To find the ACAT form, click on the Accounts & Trade tab in the top menu on Fidelity’s website. Next, select Deposit, withdraw, or transfer money. On the new page, choose Transfer an account to Fidelity from the drop-down menu.
You’ll see a screen asking for your current broker’s name. Stash won’t be in the list, but Apex Clearing Corporation is. Select Apex, as it is Stash’s clearing firm.
Enter your Stash account number and, if required, upload a copy of your most recent account statement. You’ll also be able to specify if you want a full or partial transfer.
If you choose a partial transfer, you can decide which assets to move while leaving others at Stash. With this option, your Stash account will stay open. If you want to move everything and close your Stash account, select full transfer.
If you have any fractional shares of stocks or ETFs, these will be converted to cash before the transfer begins since Stash only provides whole-dollar investing.
Transfer Fee
Before you proceed, be aware that Stash charges an outgoing ACAT fee of $75, and Fidelity doesn’t currently
offer to cover this fee. If you
move your Stash account to Charles Schwab,
they will reimburse this ACAT fee.
Alternatives to Stash and Fidelity
Transfer from Fidelity to Stash
If you want to move in the other direction (from Fidelity to Stash), it’s a bit more complicated because Stash doesn’t accept incoming ACAT transfers.
Due to this policy, you’ll have to sell the assets you want to move from your Fidelity account, transfer the resulting cash to a linked deposit account, and then move the money into your new Stash account.
Opening a Stash account should be your first step.
Stash is offering a $20 referral cash bonus if you use their promotion link when opening an account.
Because you’re not using the electronic ACAT system, you don’t need to worry about names and account types matching up.
It’s important to note that Stash doesn’t offer all the investment options that Fidelity does. This means you may not be able to buy back every asset you want to hold. Stash only has a limited selection of stocks and ETFs, so you should log in to your Stash account first to see if the securities you want are available.
Stash Promotion
Visit Stash Website
Stash Compared To Fidelity
Read Fidelity vs Stash vs Schwab Comparison
One key benefit that Stash has over Fidelity is its stock-back program, which gives you free shares of stocks for using a linked debit card. However, Stash charges a monthly account fee, which Fidelity doesn’t.
Updated on 9/30/2024.
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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