Yes, we can do what's called a Non-ACAT Transfer.
Acorns Securities, LLC can only transfer whole shares, as stated in our Program Agreement, to process asset transfer requests (section B5). The remaining balance will need to be liquidated to return to your connected checking account.
Please also note that Acorns Securities, LLC charges a $50 per ETF fee, as stated in our Program Agreement, to process asset transfer requests (section 2.2).
To see your whole shares, simply follow the steps below:
- From the home screen, click the “Invest for your Future” button
- Scroll down to see your portfolio
- Click on “Performance” to view your portfolio’s performance and details of your investments
- Click on "Account value breakdown"
- Click on shares to see how many whole shares can be transferred.
You also have the option to withdraw the funds from your Acorns account to return to your checking account and you will be able to re-invest those funds in a different brokerage account if you choose. There is no fee to withdraw funds.
To start the process, please contact your other broker-dealer to initiate the paperwork. Acorns Securities requires the documentation to have a medallion signature guarantee. This can be sent via email to firstname.lastname@example.org or by physical mail at:
Acorns Securities, LLC
ATTN: Account Transfers
5300 California Ave, Bldg 1
Irvine CA 92617
FYI: What's a medallion?
- A medallion signature guarantee is typically issued by a bank or a firm that participates in the Securities Transfer Associated Medallion Program. Medallions are a measure put in place to help prevent the unauthorized transfer of funds. The customer can Google "Medallion signature guarantee near me" for banks/firms near them that offer this service. You can read more about medallions here.
Once we receive paperwork from a broker-dealer requesting the transfer, the following process will be followed by our team:
- Receipt of Transfer Request email is sent to you titled "Asset Transfer - Received" by a licensed advisor.
- You must then respond to that email confirming the transfer. If you do not respond to the email from the advisor, the asset transfer request will not begin to process.
- It is very important that you respond to the email from our team. You cannot verify the asset transfer request with an advocate over the phone or by a follow-up email an advocate sends.
- After you confirm the asset transfer with our team, the processing time is about 2-3 business days. Please note, though, that dividends that are paid out during that time might delay the transfer.
- After whole shares are transferred, the remaining balance will be liquidated to the customer's primary checking account.