Skip to main content

Transfer outside accounts

Moving an account from another firm is a form, not a project. You tell us where it is; we handle the paperwork with the two clearing firms.

Finding your current firm, picking the account types, and submitting. 39 seconds, no sound.

Step by step​

  1. Start the transfer

    From the setup checklist, or from your profile, choose Transfer existing investments.

  2. Find your current firm

    Search the list for the brokerage holding the account: Fidelity, Schwab, Vanguard, Merrill, Morgan Stanley, J.P. Morgan, Betterment, Goldman Sachs, Northwestern Mutual, Pershing, and others are all supported.

  3. Pick the account type

    Individual, Traditional IRA, Roth IRA, 401(k) or 403(b), or a joint account. Match this to what the account actually is. A mismatch is the most common reason a transfer gets rejected.

  4. Enter your account number

    It is on your statement from the other firm. Copy it exactly, including any leading zeros.

  5. Review and submit

    Check the source firm, the account type, and the alooola account it is landing in, then tap Submit transfer.

What happens next​

  • Your matching alooola account is created automatically if you do not have one
  • The transfer request goes to the other firm the same day
  • You can track progress from your Wealth dashboard
  • Most transfers settle in five to seven business days

We notify you at each step, so there is nothing to chase.

Full or partial​

You can move an entire account or specific positions. A full transfer closes the account at the other firm; a partial one leaves it open. If you are not sure which you want, ask us before you submit, because changing it afterwards means starting over.

Things worth knowing​

  • Like goes to like. An IRA has to transfer into an IRA of the same type. Moving a Traditional IRA into a Roth is a conversion, which is a taxable event, so talk to us and to your tax adviser first.
  • In-kind where possible. Positions we can hold come across as they are. Anything we cannot hold is sold at the other firm, which may realise a gain or loss in a taxable account.
  • Transfer-out fees. Some firms charge one. It comes from them, not from us, and it is usually on their fee schedule under "ACAT".
  • Do not close the account first. Start the transfer while it is still open, or there is nothing to transfer.

Why bring accounts together​

  • One dashboard instead of four logins
  • One allocation, managed as a whole, rather than overlapping bets
  • Rebalancing that accounts for everything you own

Questions before you submit? Email support@alooola.com or call 484-275-5525.