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I've heard it isn't super easy to transfer your account like that. Have you or anyone done so?
by shostack 10y ago
I've heard it isn't super easy to transfer your account like that. Have you or anyone done so?
- fullshark 10y agoI transfered my account TO wealthfront and that was easy, now I'm thinking it's time to do what I've described and I'm assuming it's not challenging. Does wealthfront do anything to prevent you from leaving easily?
- shostack 10y agoI've heard the challenge is that since they buy individual stocks, and constantly change the holdings, it isn't easy to keep changing that and you'll be stuck with whatever stocks you had last and can just rebalance within those. I could be making that up though.
- fullshark 10y agoThat's accurate if you are doing tax optimized direct indexing (https://www.wealthfront.com/tax-optimized-direct-indexing https://www.wealthfront.com/tax-optimized-direct-indexing) which doesn't involve just using index funds. Their basic level of service just involves purchasing index funds.
- chrisbolt 10y agoI had no problems transferring stocks held in Wealthfront to Fidelity, using an 'in-kind transfer'. https://support.wealthfront.com/hc/en-us/articles/209353226-Can-I-transfer-securities-to-and-from-my-Wealthfront-account- https://support.wealthfront.com/hc/en-us/articles/209353226-... The securities appeared in my Fidelity account, and the cost basis information populated a few days later. It also doesn't trigger a taxable event, and there were no fees for transferring out of Wealthfront.