Can I transfer my funds from my Invest account to another brokerage firm?

Article author
Alexander G.
  • Updated

 

How to start the transfer process 
Other options

Yes, we can transfer funds from your Acorns Invest account to another brokerage firm. We can only transfer whole shares. Any partial shares that are left over after that will be sold. The balance will then be transferred to your linked primary checking account.

Heads up: Acorns charges a $35 fee per ETF to process any requests to transfer assets. 

Here's how to see your whole shares:

  1. Log in to your account from your Acorns app or acorns.com
  2. From your home screen, tap or click "Invest"
  3. Tap or click the performance graph to see your Account Value and details of your investments
  4. Tap or click to the "view by" icon to filter the list of your investments (the icon is just to the right of "Your investments")
  5. Tap or click "Shares" to see how many whole shares can be transferred

How to start the transfer process 

Contact the brokerage firm where you're transferring your shares to start the paperwork. The new firm will have paperwork that you’ll need to complete. 

Please make sure this paperwork has a medallion signature guarantee on it. Medallions are a safety measure to help prevent the unauthorized transfer of funds. Learn more about medallions here.

Once you have the paperwork for the transfer from your brokerage firm, you can email it to us at help@acornssecurities.com

Or you can send it to us via physical mail at:

Acorns Securities, LLC
ATTN: Account Transfers
5300 California Ave, Bldg 1
Irvine CA 92617

Once we receive the paperwork requesting the transfer, here are the next steps:

  1. We’ll send you a Receipt of Transfer Request email— the subject line will be "Asset Transfer - Received." 
  2. You must respond to that email confirming the transfer. If you don't respond to the email, the asset transfer request won't begin to process. It's very important that you respond to this specific email from our team. 
  3. After you confirm the asset transfer with our team, the processing time for your transfer is about 2-3 business days. Any dividends paid out during that time might delay the transfer. 
  4. After your whole shares are transferred, we'll sell any remaining assets and send them to your linked primary checking account.

Other options

You also have the option to withdraw the money from your Acorns account. Withdrawing funds means we'll sell your assets and transfer the balance to your linked primary checking account. There's no fee to withdraw money. You can re-invest that money in a different brokerage account if you choose. Here's how to withdraw funds from your Acorns Invest account.

Please note that withdrawing funds may cause tax implications. You may need to speak to your new firm and/or a tax advisor about your best option.  

Check out our Program Agreement for more information on fund transfers, and please contact us if you have any questions.

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