How To Transfer From M1 Finance To Fidelity

M1 Finance and Fidelity are two of the most popular brokerage platforms available today.

Here's how to transfer from M1 to Fidelity, step by step.

Check out my video on how to transfer your brokerage account below, let's dive in!

Learn More: Robinhood Retirement 3% Match

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Transfer Of Assets

A Transfer of Assets is the movement of all or part of an account from one financial institution to another without the need to sell your existing holdings.

Fidelity allows you to transfer various security types, including stocks, bonds, mutual funds, and more.

This process extends to investment accounts, retirement accounts (e.g., IRAs, HSAs), workplace accounts like 401(k) or 403(b), and even cash from checking or savings accounts.

Typically, the Transfer of Assets process takes 3–5 business days, depending on your current firm's rules and the type of accounts and investm

Consideration for Fees

It's important to note that M1 Finance charges an outgoing ACAT (Automated Customer Account Transfer) fee of $100 for all account types.

In addition, M1 charges a $100 closing fee for retirement accounts.

What You Can Transfer

You can transfer:

• All or part of an investment account, including specific investments in kind
• Retirement or health savings accounts, such as IRAs and HSAs
• Liquidated annuities, CDs, or holdings from an investment account

1. Find Your M1 Finance Account Number

Begin by downloading a digital statement from your current financial firm.

This document will contain crucial account information, and you may need to upload a copy during the transfer process.

Before you initiate the transfer process, you'll need to locate your M1 account number.

2. Initiate the Transfer Process

Now that you have your account number, it's time to begin the transfer process to Fidelity.

Follow these steps:

1. Log in to your Fidelity account. This assumes you have a Fidelity Brokerage Account
2. Navigate to the "Customer Service" section, often located in the account menu
3. Select "Transfers" from the available options
4. Click on "Transfer an Account to Fidelity"

3. Complete the Transfer Form

You're now ready to fill out the transfer form.

Here's how to proceed:

1. Click "Start a Transfer"
2. Choose "M1 Finance" as the firm you're transferring from
3. Enter your account number and specify the account type as "Brokerage Individual or IRA"
4. Click "Next" and follow the prompts presented in the wizard
5. The questions asked will be straightforward and designed to facilitate the transfer process