Migrating your investment portfolio from one brokerage platform to another can seem like a daunting task, but it doesn't have to be.
If you're looking to transfer your assets from M1 Finance to Interactive Brokers, this article will guide you through the process step by step.
M1 Finance charges a $100 outgoing ACAT fee for all account types and additional $100 closing fee for retirement accounts.
Keep in mind these fees can change at any time.
Check out my video on how to transfer your brokerage account below, let's dive in!
Interactive Brokers is a popular brokerage firm known for its advanced trading tools, a wide range of investment products, and competitive fees.
Whether you're an experienced trader or a novice investor, Interactive Brokers offers a platform with many options.
Learn more about Interactive Brokers here!
Robinhood is a popular "all-in-one" investing app.
While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.
Introducing Robinhood Retirement; home of the biggest IRA match on the market.
Here's what you need to know:
And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.
Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.
If you don't already have an Interactive Brokers account, the first step is to open one.
Visit the Interactive Brokers website and follow their account opening process, which typically includes providing personal information.
On the "Transfer Positions" page, you'll find a list of popular brokers.
Scroll through this list and select "M1 Finance" as your current brokerage platform.
If you don't see M1 Finance listed, you can use the dropdown option to access more broker options.
To initiate the transfer, you'll need to provide your M1 Finance account number.
Here's how to find this:
After entering your account number and confirming the transfer fee, follow the on-screen instructions to complete your transfer request.
You may be required to verify your identity and provide additional details to ensure a smooth transfer process. Once you've initiated the transfer, Interactive Brokers will begin the process of moving your assets from M1 Finance.
You can monitor the progress of your transfer through your Interactive Brokers account.
