If I have Apple stock in one brokerage firm and I want to transfer it to a main brokerage firm with Apple stock in the main firm, when they transfer the Apple stock to main account, will they put it in with the Apple stock already there or place it in separately?
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3It's probably better to ask your brokerage how they'll handle it.– glibdudCommented Dec 3, 2020 at 20:05
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1what do you mean by " put it in with the Apple stock already there"?– D StanleyCommented Dec 3, 2020 at 20:14
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Do you mean how will it appear in the new location? It will depend on the brokerage, but it'll probably appear as a single holding of X+Y shares, where X is the number of shares that are already in the receiving brokerage, and Y is the number being transferred in. But they'll keep track of them as separate lots with a separate cost basis for each.– Doug DedenCommented Dec 3, 2020 at 23:22
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1 Answer
Transfer of cash and securities between brokers is handled via the Automated Customer Account Transfer Service (ACATS).
To start the process, you must complete a Transfer Initiation Form (TIF) and send it to the broker that you want the assets transferred to (the "receiving firm"). The receiving firm then contacts the "delivering firm."
If there are no glitches, it takes about a week to complete the transfer. Upon reaching the "receiving firm", the assets will be go into an existing account or a new account, depending on the instructions contained in TIF. Transfers from a non broker-dealer may take longer.
answered Dec 3, 2020 at 20:30
