Transferring Brokerages
The plain answer
Section titled “The plain answer”You can usually move a brokerage account to another brokerage without selling every investment. This is called an in-kind transfer, which moves eligible investments as they are. The tradeoff is that some assets may not transfer, so review the account before asking the receiving brokerage to start the move.
How it actually works
Section titled “How it actually works”The receiving brokerage usually starts the transfer after you open a matching account and provide information from a recent statement. Matching means the ownership and registration are compatible, such as moving an individual taxable account into another individual taxable account.
A full transfer moves all eligible assets and normally closes the old account after the process finishes. A partial transfer moves only the assets you request and leaves the old account open. Either choice can restrict trading while assets are in motion.
Some mutual funds, fractional shares, cash products, or investments offered only by the old brokerage may not move in kind. An unsupported asset may need to stay behind or be sold. A sale in a taxable account can create a taxable gain or loss, so confirm the treatment before approving liquidation.
Cost basis is the amount used to measure a taxable gain or loss. Brokerages generally transfer available cost basis records, but the records can arrive separately from the investments. Keep your own statements and trade confirmations in case anything needs to be corrected.
What this means for you
Section titled “What this means for you”Moving can give you lower fees, better service, or account features that fit you better, but the transfer can create temporary limits and extra recordkeeping. Compare those tradeoffs first, then choose a receiving brokerage that can hold your current investments and support the account type you need.
Before starting, download recent statements, list every holding, and ask whether each asset can transfer in kind. Check transfer fees, pending dividends, open orders, and any account restrictions. Avoid placing new trades once the transfer is underway unless the brokerages tell you the account is available.
After the move, compare the new account with your saved records. Confirm the number of shares, cash balance, cost basis, beneficiaries, dividend settings, and investment instructions.
Common mistakes
Section titled “Common mistakes”Do not close the old account before starting an in-kind transfer. Closing it can force sales or interrupt the transfer process. Let the receiving brokerage explain when the old account should close.
Another mistake is assuming every holding will move. Confirm unsupported assets and fractional shares in advance, especially if selling them could affect your taxes or investment plan.
Do not discard old statements after the assets arrive. Cost basis and tax records may follow later, and your copies give you a way to check the final result.
Related pages
Section titled “Related pages”Educational content, not personalized financial, tax, or legal advice. No affiliate relationships. Figures are for tax year 2026 and change annually.Read the full disclaimer.