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How do I best handle changes of brokerage account ownership (e.g., Scottrade > Ameritrade)?

Ameritrade bought out Scottrade some years back, and my Scottrade account was subsumed into Ameritrade. I prefer not to lose the transaction history (register) for my Scottrade account, but I don't know how "shift" the data/values to the new Ameritrade account. (I suppose I could rename the original Scottrade and update account ID#, etc., but would rather have both accounts visible and separately searchable). At present, lacking any proper understanding, I have remaining values in the Scottrade account that are (at this point) no longer accurate. How best to xfer them to the Ameritrade account?

Answers

  • JJIV
    JJIV Mac Beta Beta
    I went through this a few years back when I moved from one brokerage to another.  The portfolio transfer was easy since the shares were simple "Add Shares" to new account and "Delete Shares" from the old.  You can also use the "Transfer Shares" once both accounts are active and separate in Quicken. For the cash balance I used a transfer from one account to the other.  The old account is in my closed accounts but visible. Separate accounts however do not give you accurate performance metrics or historical records for tax purposes (e.g. long term vs short term).  If this does not concern you, then separates accounts should work for your purposes. 
  • Bengo
    Bengo Member
    Thank you for this answer. I think my earlier ignorance has left me in a sort of a pickle in this case. I had done SOMEthing back when the buyout occurred, the result being traces of stocks in both accounts, but unresolved in the old account and disconnected to the 2nd. I'm not sure there's any way I can repair this now without removing and recreating a lot of old transactions. For a few hundred bucks worth of trades, it seems hardly worth the risk of screwing something up royally in the attempt! It's just annoying to have this inaccuracy from the old account still lurking in there. I suppose I could entirely trash the old one, but then I'd lose access to that history. Humph.
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