How To Transfer From M1 Finance To Webull 2024

In this article, we will cover the necessary steps to transfer your stocks from M1 Finance to Webull.

Webull does not support account transfers below $500 due to high transfer costs.

In addition, Webull supports individual cash and margin accounts, traditional IRAs, Roth IRAs, and Rollover IRAs only.

Check out my video on how to transfer your brokerage account below, let's dive in!

Learn More: Robinhood Retirement 3% Match

Robinhood is a popular "all-in-one" investing app.

While they are most well-known for their commission free stock trading, they've recently shaken up the Retirement Investing World too.

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• Robinhood offers 2 types of retirement accounts - the Roth IRA and Traditional IRA
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• Robinhood Gold members will get a 3% Match - the biggest on the market

And don't worry, this comes with a Portfolio Builder Tool. You don't have to construct your investment portfolio from scratch if you don't want to.

Lastly, you'll even get a free stock worth up to $200 when you open a new Robinhood account using our link.

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Transferring Assets From M1 Finance To Webull

Both Webull and M1 support the ACATs transfer service (Automated Customer Account Transfer Service).

However, there are fees associated with transfers and rollovers.

M1 Finance charges a $100 outgoing ACAT fee for all account types and additional $100 closing fee for retirement accounts.

• For a traditional brokerage account transfer from M1 to Webull, the total fee will be $100.
• Should you decide to rollover a Roth IRA to Webull, for example, the total fee will be $200.

Keep in mind these fees can change at any time.

1. Open A New Webull Account

If you already have a Webull account, then you can skip this step.

Use our Webull download button below to get free stocks!

The whole process can be completed in just a few minutes from your phone. Once you complete the application, your new account will be ready immediately.

New to Webull? Check out my full tutorial below!

2. Locate M1 Finance Account Number

In order to initiate the transfer of your account from M1 to Webull, you will need your M1 Finance account number.

Here's how to find this:

1. Log in to M1 Finance
2. Go to your account settings
3. Select 'accounts'
4. The account number will be displayed to the right of the account name

3. Initiate The Transfer To Webull

Once you have gathered the required information from M1, it's time to move on to Webull.

Webull will not perform the transfer unless the account type and name on the account is identical to the newly created Webull account.

Here are the steps to initiate the transfer:

1. Navigate to the account page by tapping on the Webull icon in the middle of the bottom navigation menu
2. Tap on "Transfers" which you can find along the top of the screen
3. Tap on "Transfer Stocks into Webull"
4. Click on "Transfer Assets into Webull"
5. Choose the broker to transfer from, which is M1 Finance
6. Review the information and acknowledge that you confirmed the requirements
7. Tap "Continue"
8. Enter in your M1 Account number
9. Indicate whether you want to complete a full or partial transfer
10. Click on the “Submit Stock Transfer Request” button

A transfer into Webull is estimated to take 5 to 7 business days to come to completion.