How To Transfer From Merrill Edge To Fidelity 2023

Transferring your investments from one brokerage to another can be a common move.

If you're considering making the switch from Merrill Edge to Fidelity, this article will guide you through the process.

What is Fidelity?

Fidelity offers a wide range of investment options, competitive pricing, and an easy-to-use online platform.

With Fidelity, you can transfer various types of accounts and investments.

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The Transfer Process

Transferring your assets from Merrill Edge to Fidelity is a straightforward process that can typically be completed within 3-5 business days.

Here's how the transfer of assets works.

1. Submit Your Transfer Request

Initiate the transfer process by submitting a transfer request to Fidelity. This can be done online and usually takes only 5-7 minutes to complete.

During this step, you'll specify the accounts and assets you want to transfer.

2. Fidelity Contacts Your Current Firm

After receiving your transfer request, Fidelity will contact Merrill Edge or your current brokerage.

They will request the necessary information and assets to facilitate the transfer.

3. Transfer Processing

Your current firm will process the transfer request and prepare the assets for transfer. They will then send the assets to Fidelity, either in cash or in-kind, depending on your preferences.

4. Assets Are Deposited into Your Fidelity Account

Once Fidelity receives the assets, they will be deposited into your selected Fidelity account.

You'll have access to your investments on the Fidelity platform, and you can start managing them as you see fit.

It's worth noting that most of this process is handled online, making it convenient and efficient for investors.

Fees and Costs

When transferring your investments from Merrill Edge to Fidelity, you'll want to be aware of any associated fees.

Merrill Edge charges an Account Transfer Fee (ACAT) of $49.95 for a full account transfer. However, there is no charge for partial account transfers.

This fee is typical of many brokerage firms and helps cover the costs associated with the transfer process.