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Moving investment account to new firm

Dennis Mahoney
Dennis Mahoney Member ✭✭
edited July 2019 in Investing (Windows)
Here's something I already tried and it seemed to work ok but I'd like to know the pros and cons: I moved one of my IRA's from Capital One to Fidelity. Rather than transfer each position I simply changed the logon information. It seems to work fine. In this way the history, etc. are all intact and reports and performance calculations work fine.

Comments

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭
    I've certainly done the same thing in the past without any problems.  I'd suggest going to "Accounts Details" and making a note to yourself in the Comments box about what you did and when just in case you need to or want to make some distinction between "old account" and "new account".
  • q_lurker
    q_lurker SuperUser ✭✭✭✭✭
    For a case of 100% immediate transfer, I think that is the most effective and efficient process. No particular cons to, though I will ditto Tom’s suggestion for a reminder. A Reminder transaction is another way to do that. 
  • NotACPA
    NotACPA SuperUser, Windows Beta Beta
    Ditto both of the above responses.
    Q user since DOS version 5
    Now running Quicken Windows Subscription,  Home & Business
    Retired "Certified Information Systems Auditor" & Bank Audit VP
  • Dennis Mahoney
    Dennis Mahoney Member ✭✭
    Thanks to all.
This discussion has been closed.