Frequently Asked Questions

Frequently Asked Questions – Custodian and Broker Information

Do I Need To Sell My Current Positions?

Depending upon where your current account is held, the Automated Customer Account Transfer System (ACATS) allows you to transfer assets from eligible brokerage accounts without liquidating your current positions. For non-ACATS-eligible accounts, you may need to sell your current investments and simply transfer cash. Most common brokers are available on the ACATS system (Fidelity, TD Ameritrade, E-Trade, Charles Schwab, Morgan Stanley, Merrill Lynch and more). However, companies like Vanguard and Capital One are typically not ACATS eligible and will need to be transferred using a different method. If you are unsure whether your current broker is eligible for ACATS transfers, our team can help during the account opening process to determine the best transfer method.

In rare cases, even if your account is ACATS eligible, your current holdings won't be able to be transferred, and would need to be sold so you can transfer cash. As part of the ACATs process, you can perform a position eligibility check to verify whether a position will be accepted, or if it will need to be liquidated to cash first. For instructions on performing that check, please click here.

Alternatively, your Personal Portfolio can be funded with cash directly from a bank account using an ACH transfer or wire transfer.

Keep in mind that if you are moving a taxable brokerage account there will be tax implications associated with moving your portfolio to Fool Wealth. Putting your account under our management may involve initial transaction costs and tax consequences, as we buy and sell stocks to bring your portfolio in line with our recommended allocation. These costs depend upon your personal situation (such as your existing portfolio composition and the amount that you will fund with us). We recommend consulting with your tax advisor or CPA prior to moving the account if you are concerned about tax implications.

See what we would recommend for you