Joining Morgan Stanley in few weeks.. is holding mutual fund account in vanguard allowed like at BofA (or) will I be forced to liquidate and move my account to Morgan Stanley. Don't want to sell and take losses during Ukraine conflict. New TC 250k
Thank you Vanguard.. Want to ensure this is not a taxable event.. Existing employees of Morgan Stanley ... Can you please answer if MS would let me keep the Vanguard Mutual Fund account and not force a Transfer.
MS is going to require you to transfer them to a MS account. The transfer will most likely use ACATS which should preserve your positions and costs and shouldn't result in a taxable event. MS will not let you keep your outside account.
To clarify, it's going to depend on if the account has a brokerage capability, regardless of if you use it or not. Something like a 401k or an open end mutual fund with the fund company would be ok, so if you're holding these in a vanguard account that only lets you buy and sell the vanguard funds you might be able to get by. But if it's a vanguard brokerage account holding these funds they're going to require you to transfer them.
Thank you MS.... In the past vanguard has allowed 2 types of taxable accounts ...mutual fund and brokerage... But recently they are pushing all MF clients to brokerage account platform ... I have been resisting moving my MF account to their new brokerage platform for the same reason...
Don't think ACATS might work...I saw this news article from past . not sure what the current situation is https://www.wsj.com/articles/morgan-stanley-dumps-vanguard-mutual-funds-1493911152
You won’t need to liquidate anything. You will transfer them, which is just moving stocks/funds etc.
This is not 401k or IRA it is a taxable mutual fund account at Vanguard
Shouldn’t matter. I bought some shares in Morgan Stanley brokerage and transferred them to vanguard. You just have to call vanguard/Morgan Stanley and let me know about transfer and they will send you the required forms to fill out.