The two of you knew the investment value of stocks before you ever met. But now that you’re together, maybe you want to combine some of your holdings into a new account. Or perhaps you’d rather create a new account at your mate's brokerage firm because it has a better deal. Transferring stocks between accounts is easy; it does take some time, however.
Contact both companies that manage the brokerage accounts. Give them the details of what you plan to transfer and to where. They can give you guidelines on what to do, any fees involved and any restrictions. They can also send you the necessary forms to fill out. You can often find the forms on the company website as well. You only need to fill out the form from one company.
Print out the form and fill in the requested information, which typically includes the names and numbers of both accounts, your Social Security number and your contact phone number.
Specify the name of the stock you want to transfer. To avoid confusion, spell out the full name and include the stock symbol. Write down the number of shares you want to transfer or “ALL,” if you're moving all stocks.
Sign and date the form. If you are not the owner of the other account, that owner must also sign and date the form, and state that the transfer is authorized.
Attach photocopies of your most recent statements for the accounts involved in the transfer.
Monitor the transfer until it is complete. This may mean checking the websites of both accounts to view any status updates, or phoning your brokers once a week to ask questions.
Items you will need
- Recent account statements
- Transferring stocks between accounts can take from three to six weeks or longer. Dividends, interest or transaction proceeds might be delayed during this time. If you buy or sell the transferred stock, you may complicate. Some companies may freeze your accounts during transfers just to prevent problems. If you need to perform transactions, do them before you initiate the transfer or after the process is complete.
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