Transfering of stocks (broker help please)?

My dad has an account with fidelity, and he wants to transfer two out of the 3 companies shares he's holding to a different broker while keeping one of them with fidelity. Is this possible?

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  • Anonymous
    10 years ago
    Favorite Answer

    Yes, it can be done somewhat easily but it may take some time. Contact the firm you wish to transfer the stock to, they will help you with the paperwork. You have to fill out an ACATS form with the new broker and they will guide you through the process, they want you to do this as they want your assets.

    Fidelity may charge you an exit fee and they probably will. Some firms will reimburse transfer costs up to a certain point.

    Source(s): I've done this before
  • 9 years ago

    "Freddy" nailed this one for you - You do NOT have to sell anything, and moving through the ACATS system is a lot easier than selling.

    Just tell the new firm what you want to do, they will complete the firms for you (you may need a copy of your latest statement), they will enter the info into the system and there is less than 10 days for everything to move

    Source(s): 40+ years on the street
  • Anonymous
    9 years ago

    Yes.

    The easiest way is to sell and move the cash, but if he doesn't want to do that he needs to contact the new brokerage company and ask them how they prefer to make the transfer. Most of the time they will do it for you, although fees may apply.

  • 9 years ago

    He will have to sell his holdings and have the money as cash.

    He can not tranfer shares from one broker to another.

    He can keep his fidelity account and his shares - no problem.

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  • Anonymous
    9 years ago
  • 9 years ago

    yes it can be done, it may take some time and fees will usually apply but it can be done.

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