Now if you have an investment in one brokerage, how do you transfer it without having to worry about taxes. In this video, I’m going to show you step by step.

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1. The first thing you have to worry about when transferring from one broker to another
– I taxes and you want to make sure that you don’t get hit with any
– Unless you have a loss and don’t care about it and rather get the tax loss
– But for the most part, what you are going to want to do is to an IN-kind transfer
What In-kind transfer does is this:
– It basically just moves your investment without selling them
– This way you don’t have to worry about taxes
– But you have to make sure your firm actually offers this because some first don’t

2. Let’s talk about the process and how to do it
– It’ll take about 5-15 minutes I would say to complete the transfer
– And about 5-10 days I would say to actually receive the investment in your account

You’re going to need:
– Username or account number ( this can be found in the statement you get from the brokerage )
– The dollar amount you want to transfer or if you want to transfer all of the assets
– Also the name and address of the broker is important
– The clearing company

Here a photo of a list of things
– DTC Code ( Depository Trust Company )
– And so on

3. Look out for Fees
– Usually, fees are charged by the company you transferring from
– Beucase they obviously want your money
– And the other company wants to keep it

Here are some fees:
– M1 Finance: $100
– Vanguard: $0
– Fidelity: $0
– Schwab: $50
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*Some of the links and other products that appear on this video are from companies in which Tommy Bryson will earn an affiliate commission or referral bonus. Tommy Bryson is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. I’m an Accountant but I’m not your Accountant, always review information with your Accountant/CPA and your Financial Advisor.

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