Transfering stocks from one brokerage to another?

Michael3442
Michael3442 Member ✭✭✭
in Investing (Windows)

I would like to transfer stocks out of one brokerage and into another. If I do this, will I lose historical information that I need (for taxes) or will my original purchase be recorded? What about stock splits that happen along the way, how is that handled? All thoughts welcome!

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  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭

    Option 1: If the receiving brokerage is new and the old brokerage is going away …

    • Disable the online connectivity to the old account (if applicable)
    • Change the FI to the new brokerage
    • Enable the connectivity to the new brokerage (if applicable).
    • Add a reminder transaction that you changed brokerages.

    Option 2: Use a Shares Transferred action (Enter Transactions) to move all lots of all securities from the old account to the new account all basis and acquisition dates will be transferred.

  • Michael3442
    Michael3442 Member ✭✭✭

    Thanks, lurker. What does FI refer to? And, what about an ACATS transfer.

  • q_lurker
    q_lurker Quicken Windows Subscription SuperUser ✭✭✭✭✭

    FI = Financial Institution

    ACATS - What about them? Under option 1, when those transactions get downloaded you simply delete them; you are processing as if no transfers took place. Under option 2, the downloaded transactions may or may not be adequate, they likely don’t have basis and acquisition dates. As such, I have generally deleted the downloaded versions.

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