Transfer stocks from Robinhood to Fidelity
Want to do this for like 90% of the portfolio on RH but still like the convenience of the platform. Has anyone done this and is still able to trade on RH? Last I heard the close the account when someone does this. Appreciate the help. Thanks
I did it to TD Ameritrade. You can transfer your whole account or only partial assets. If you transfer the whole, your RH account will be deleted. If you do a partial transfer, it remains active. If you want to keep your RH account, just do a partial transfer, but buy a share from some random penny stock to leave in the account. This way you moved what you wanted and after the partial transfer you still have your account and can just sell the share of the penny stock.
Thanks! that helps a lot. I still intend to keep 10% of my portfolio on RH so i think I should be good. How long does the process take for partial transfers?
@magaKimaka It took less than five business days (I think four exactly, but don’t remember anymore exactly)
Did you pay the $70 fee when you transferred?
No, TD Ameritrade gives a one time waiver and pays transfer fees up to 95$
Sounds like a tax nightmare
If you transfer stocks its not a tax nightmare
Why would you want to do this? Just want to know. I am a long time user of RH, $100K invested. Haven't had any issues. Please don't give the reason that you think its not good because folks say so :) PS: Like your ID :D
No issues with the app itself. Just want to consolidate stuff. Thats all. I have had some issues to be honest with stop loss over the last few months. Also just want to have RH as experimental.
Makes sense. Just asking for my knowledge, you cant consolidate it the other way because no IRA/401K? Also check out Personal Capital if you are consolidating for keeping a close eye overall. You can use multiple platforms but monitor it from Personal Capital.
Looking to do the same. But I was thinking: Couldn’t you just open an account again?