Transferring your stock holdings from one brokerage platform to another can seem like a daunting task, but with Charles Schwab, the process is simpler than you might think.
This guide will walk you through the step-by-step process of transferring your stocks from Fidelity to Charles Schwab.
These are two of the most well-known investment platforms available to investors today.
Check out my video on how to transfer your brokerage account below, let's dive in!
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Good news! There are no fees involved with transferring your assets from Fidelity to Charles Schwab.
To begin the transfer process, you'll need to open an account with Charles Schwab.
When prompted to choose a funding option, select "investment account transfer."
Your account will be approved within five business days, after which you can proceed to initiate the transfer.
To initiate the transfer, you'll need to provide your Fidelity account number.
You can find this information on your Fidelity account statements.
Here's how to retrieve a copy of your most recent Fidelity statement:
Once your Schwab account is ready, log in to the desktop site.
Navigate to the 'Accounts' tab and select 'Transfer Account' from the dropdown menu.
This will lead you to the Transfers and Payments section, where you can manage the transfer of your assets.
In the transfer interface, enter the name of the firm holding your Fidelity account and your Fidelity account number.
This information is crucial for accurately identifying and initiating the transfer of your assets.
Choose whether you want to transfer the entire account (full transfer) or only specific assets (partial transfer) from your Fidelity account to Charles Schwab.
This flexibility allows you to tailor the transfer to meet your individual preferences and portfolio needs.
Provide the necessary information to authorize the transfer. This typically involves confirming your identity and approving the transfer request.
Charles Schwab ensures a smooth and secure transfer process with minimal hassle.
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