When making a transfer from your ShareBuilder account to a non-ShareBuilder brokerage account you can request either a partial transfer (transfer of specific assets) or a full transfer (transfer of all assets). Follow the instructions below to request a transfer out of your ShareBuilder account:
First, you will need to obtain a copy of the receiving broker's account transfer form. When completing the form, you'll need to list:
- Whether you are completing a partial or full transfer
- The ticker symbol of the securities to be transferred
- The number of shares to be transferred
- The amount of cash to be transferred
When requesting a transfer, only whole shares may be transferred. Fractional shares cannot be transferred and are liquidated for a full transfer or left in your ShareBuilder account for you to hold or liquidate for partial transfers.
For partial transfers, there is a cost of $15 per security being transferred, and $15 for any cash, up to a maximum of $75.
For full transfers, there is a cost of $75. This includes the transfer of all whole shares of securities held in your ShareBuilder Account, the liquidation of any partial shares (as needed), and the transfer of the cash balance.
When you submit the transfer form, please let the receiving brokerage know that ShareBuilder is not an ACATS (Automated Customer Account Transfer System) eligible broker and that the transfer will need to be completed manually. In addition, the form must have a Medallion Signature Guarantee.
Please be sure to include a printout of your most recent ShareBuilder account statement with the transfer form. The transfer will
take approximately 30 days to complete.
Tip: If you wish to prevent further investments while you are in the process of requesting your transfer out, you will want to switch off your Automatic Investment Plan. Also, if on the Advantage Pricing Program, you can unsubscribe to the Basic Pricing Program to prevent further monthly subscription charges (but you will not be able to sign up again in the future as this pricing is no longer available to new subscribers).