How to transfer stock between brokers?

Question

0

Capehart 0 Comments

What is the procedure that I need to follow if I want to transfer some stocks from my portfolio from one stock broker to another? Should I ask the broker that manages my portfolio to do it or can I do it myself?

1 Answer

score 0 · Answer 1 · 2012-12-02T20:11:00+00:00

There is a system called Automated Customer Account Transfer Service (ACATS) which is maintained by NSCC which allows you to transfer your account from one broker to another. The procedure is straightforward and a lot of investors change brokers every day. You can either choose to transfer your whole portfolio or specific securities.