How do I move investment accounts from one institution to another?

Unknown

I have several investment accounts with a particular institution. They have chosen to have another institution take over our accounts and stop offering that service. Is there anyway to move the accounts as is? Or am I stuck building new accounts and then moving the investments?

Frankx

Hi @walbal88,

I think you have a couple of options:

The first option relates to your question above - "Is there anyway to move the accounts as is?"
The answer is probably yes.  What you should be able to do, once the transfer from the old institution ceases to administer your accounts, is to simply change the name, account number and other relevant information (and deactivate transaction download, if that's a feature you currently have) to the new financial institution.  I say probably, because I seem to remember that others may have had issues with this approach, but on the positive side I know a lot of folks have been successful.

The second option relates to your other question - "Or am I stuck building new accounts and then moving the investments?"
The answer is yes for everything but not the "stuck part".  It is actually easy to both create a new account in Quicken and amazingly easy to move transactions in bulk (meaning all transactions in the account) from one Quicken account to another.  Here's how:

After creating a new account in Quicken you will simply:
1) Open to the old account;
2) Click on the little gear icon at the top right of the screen;
3) Highlight "Move Transactions" in the drop down menu;
4) Click on the "Select All" button;
5) Highlight the name of the new account in the "Move to account:" box
6) Click Done.

So the news is all good.

As you move forward, please feel free to come back here for additional help, if needed.

Good luck!

Frankx

Rocket J Squirrel

Don't do any "moving" of anything. Just edit the account details to change the financial institution.

If you download transactions, deactivate the accounts and re-add them using the new FI.

Frankx

Hi @walbal88,

I think you have a couple of options:

The first option relates to your question above - "Is there anyway to move the accounts as is?"
The answer is probably yes.  What you should be able to do, once the transfer from the old institution ceases to administer your accounts, is to simply change the name, account number and other relevant information (and deactivate transaction download, if that's a feature you currently have) to the new financial institution.  I say probably, because I seem to remember that others may have had issues with this approach, but on the positive side I know a lot of folks have been successful.

The second option relates to your other question - "Or am I stuck building new accounts and then moving the investments?"
The answer is yes for everything but not the "stuck part".  It is actually easy to both create a new account in Quicken and amazingly easy to move transactions in bulk (meaning all transactions in the account) from one Quicken account to another.  Here's how:

After creating a new account in Quicken you will simply:
1) Open to the old account;
2) Click on the little gear icon at the top right of the screen;
3) Highlight "Move Transactions" in the drop down menu;
4) Click on the "Select All" button;
5) Highlight the name of the new account in the "Move to account:" box
6) Click Done.

So the news is all good.

As you move forward, please feel free to come back here for additional help, if needed.

Good luck!

Frankx