There are many reasons for wanting to switch from one investing platform to another. Whatever the reason, you can rest assured that the process is actually not too bad.
Of course, you can sell your assets and transfer the funds to your bank. And then fund a new investment account and repurchase your investments. However, this method can trigger capital gains taxes should you sell for a profit.
Rather than sell your assets, you can perform what's called an in-kind transfer, or ACATS (automated customer account transfer service). This kind of transfer simply moves your account from one platform to another.
So, whatever your reason for wanting to transfer, we have you covered. In this article, we cover the steps to transfer from ETrade to Vanguard.
When both platforms accept ACATS transfers, the transfer process is pretty straightforward. In fact, most platforms will require the same steps as below simply with different platform names.
To transfer from ETrade to Vanguard, follow these three simple steps:
Let's jump into each of these steps in more detail!
If you already have a Vanguard account, then you can move on to the next step.
Vanguard is one of the longest standing brokerages available and as such, have some of the most advanced offerings and options for investors.
Before you start the transfer process, be sure you are eligible to open an account. To create an account, you will need to have the following:
To open an account, follow these steps:
Once you have completed the account application, you will be able to start investing in 3 business days.
When you want to transfer assets into Vanguard, you will need to collect information about the platform that you are transferring from. In this case, you will need to locate your ETrade account number and login details.
You can find your account number with the following steps:
Once this information is securely copied down, we can finish the process on the Vanguard website!
With a Vanguard account and your ETrade account information readily available, you are ready to execute the transfer.
Before you do, you should note that an outgoing transfer from ETrade will incur a transfer fee. For full transfers, the fee is $75. Partial transfers are $25.
Despite having a solid app, Vanguard requires members to follow their web-based prompt to initiate a transfer. The transfer steps can be completed in as little as 10 minutes online, though the funds may take up to 4-6 weeks to appear in your Vanguard account.
Before you start the transfer, you should also know about the assets that you can and cannot transfer to Vanguard.
Investments you can transfer:
Investments you can't transfer:
Any investments that you have that cannot be transferred must be liquidated first.
To initiate this ACATS transfer, follow the steps below:
Be aware that this transfer can take up to 4-6 weeks to complete, though typically is completed much sooner.
Because both of these platforms accept ACATS, this process is really quite simple. All you need is to ensure you have a Vanguard account that is the same type as your ETrade account and your ETrade login information and account number.
From there, you will simply follow the prompts on Vanguard's website. The process itself will be completed online in about 10-15 minutes, though the funds may not appear for 4-6 weeks.
If you have additional questions, be sure to reach out to Vanguard's customer support team.
Get 1 Free Stock Worth Up To $200 From Robinhood!
Don't Miss This Opportunity!
Investing Simple readers can claim a free stock from Robinhood worth up to $200 when they open a brokerage account and deposit any amount.
For US Residents only. Investing Simple is affiliated with Robinhood, and we may earn a commission when you sign up for Robinhood.
