Personal Finance & Money Asked by Cassynina on April 6, 2021
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?
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 by Bob Baerker on April 6, 2021
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