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Written by Sam Pennington on June 27, 2022
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How To Transfer From Vanguard To Webull 2022

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If you are unhappy with your current brokerage, then there is nothing stopping you from trying out another. Or perhaps you simply want to take advantage of a new promotion for free stocks.

Whatever the case may be, moving your assets from one brokerage to another can be an intimidating process as you don't want to lose your funds.

In this article, we cover all the steps required to execute a smooth transfer from Vanguard to Webull.

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Transfer From Vanguard to Webull

Webull, though launched in 2017, is already a top platform for many investors, and it is easy to see why. With a wide array of research features and capabilities, Webull certainly equips its members with all the data they need.

Transferring your assets from Vanguard to Webull is actually pretty simple. Both platforms offer ACATS (Automated Customer Account Transfer Service). Not only is ACATS a quick process, but it also avoids creating a tax event. With ACATS you are transferring the assets without ever selling them.

In order to execute the transfer, you will need to follow the steps below:

  1. Open a Webull Account (if you do not already have one)
  2. Gather your Vanguard account information
  3. Initiate ACATS transfer from Vanguard to Webull

Let's take a closer look at each of these steps.

1. Open a Webull Account

Webull Logo

Creating an account with Webull is a pretty quick and easy process. The whole thing can be completed in a few minutes. In order to qualify for an account, be sure you meet the following requirements:

  • Be 18 years or older
  • Have a valid Social Security Number (not a Taxpayer Identification Number)
  • Have a legal U.S. residential address within the 50 states or Puerto Rico (there may be exceptions for active U.S. military personnel stationed abroad)
  • Be a U.S. citizen, U.S. permanent resident, or have a valid U.S. visa

If you meet these requirements, then setting up an account is pretty smooth. Follow these steps to open a new Webull account:

  1. Go to Webull official website
  2. Click "LOG IN"
  3. Click "Sign up Now"
  4. Follow the steps as prompted to create your new account (you will need to input information such as your name, email, phone number, address, SSN, and level of investing experience.)

Use the button above to get up to 6 free stocks when you sign up!

2. Gather Your Vanguard Account Information

Vanguard was the pioneer of low fee investing for the people.

In order to initiate the ACATS transfer from Vanguard to Webull, you will need to find your account number.

In the Vanguard app, you can find your account number by opening the app and logging in to your account. Tap on the "My Accounts" selection. There, you will see your 8 digit account number.

3. Initiate Transfer From Vanguard To Webull

Before initiating the transfer, there are a few things to be aware of. Not all assets are supported by Webull. 

Assets not supported by Webull include OTC penny stocks, options, and a few other investments. These investments, if owned in Vanguard, will need to be sold off prior to initiating an ACATS transfer. After selling these assets, you can transfer the funds to your bank account and then deposit them in your new Webull account.

Be aware that any profits you earn when selling off particular positions could result in capital gains taxes.

Additionally, you will be charged transfer fees. While Webull does not charge for an incoming transfer, Vanguard does charge $75 for an outgoing transfer. 

Lastly, when executing an ACATS transfer, it is critical that the name on the two accounts match. If the names do not match, this can delay the transfer or cancel it altogether.

Steps To Transfer Your Vanguard Account To Webull

To initiate the transfer, follow these steps in the Webull app:

  1. Login to your account in the Webull App
  2. Tap the Webull Icon in the middle of the bottom navigation menu
  3. Across the top, you will see a menu of options starting with "Assets." Choose the "Transfers" option
  4. Tap on "Transfer Stocks into Webull"
  5. Choose the broker to transfer from. If you do not see your brokerage listed, you can use the search function and either type in Vanguard or use their DTC number, which is 0062.
  6. Take note of the important notices before making the transfer and confirm that you have read them
  7. Tap "Continue"
  8. Type in your Vanguard account number that you found earlier on
  9. Choose either Full Transfer or Partial Transfer
    • If you choose a partial transfer, you will be able to choose which assets to move
  10. Tap "Submit Stock Transfer Request" to finalize the transfer

This transfer can take a few business days to complete. As long as the account type and name match, then the transfer should have no problems.

Transfer From Vanguard to Webull: Final Thoughts

Because both platforms support ACATS transfers, this process is fairly straightforward.

You will want to ensure the names of the accounts match. Additionally, the account types need to be the same.

Once you find your Vanguard account number, this transfer can all be completed in the Webull app.

Check out our full Webull review article to learn more about that platform.

Article written by Sam Pennington
Sam is a personal finance writer. While in college, he dedicated his spare time to learning about personal finance, investing, and real estate. Sam currently works as a business analyst for one of the top food manufacturers in the world.

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