How To Transfer From Ally Invest To Fidelity 2023

Transferring your investment account from one financial institution to another is a common practice.

If you're considering moving from Ally Invest to Fidelity, this guide will walk you through the process.

What is Fidelity?

Fidelity provides a robust platform for investors, offering various types of accounts and investments.

Here's how to initiate the transfer.

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1. Submit Your Transfer Request to Fidelity

The first step in the process is to submit a transfer request to Fidelity. This can be done online and typically takes only 5 to 7 minutes.

You will need to provide your account number and specify which assets you wish to transfer.

2. Fidelity Contacts Your Current Firm

After receiving your transfer request, Fidelity will contact Ally Invest to initiate the transfer process.

3. Asset Transfer from Ally Invest

Once Ally Invest receives the transfer request from Fidelity, they will begin processing the request.

The time it takes to complete this step can vary, but it typically ranges from 3 to 5 business days.

4. Fidelity Deposits Your Assets

After Ally Invest has processed the request, your account assets will be sent to Fidelity.

Fidelity will then deposit these assets into your selected Fidelity account. You will have access to your investments in your new account.

Cost Considerations

It's important to note that Ally Invest charges a $50 transfer fee for each partial or full Automated Customer Account Transfer Service (ACATS) transfer of securities or cash from an Ally Invest account to another financial institution.

Make sure to consider this fee when planning your transfer.