Transfer vested stocks between banks

Amazon
Freedo

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Freedo
Jul 11, 2020 13 Comments

I am planning to move my company vested stocks from Charles Schwab to Chase YouInvest. Could I transfer the stocks without selling them(to avoid short term tax)? Are those rewarded stocks treated exactly the same as other stocks that I purchased in my brokage account? Or is there any restrictions? Anything I should be pay attention to?

First time doing this and a bit confused. If anyone did something similar before please share. Really appreciated it!

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TOP 13 Comments
  • Hey yes it's possible. I transferred a particular position from Chase Investment to Fidelity, and it's free(stupid regulations). I'm not sure if you know, Chase Investment account has some great benefits where it allows you to invest in admiral mutual funds. Chase also has a significantly lower buy in for some really good mutual funds(BGSAX - 500 in Chase vs 2 million in Fidelity).
    Jul 11, 2020 3
    • I'd suggest you can diversify a little with some higher risk funds especially if you're young. Look up fscsx, fsptx, fbsox, vitax (mid risk) and acfox, bgsax, cpoax (high risk)I'd suggest you can diversify a little with some higher risk funds especially if you're young. Look up fscsx, fsptx, fbsox, vitax (mid risk) and acfox, bgsax, cpoax (high risk). Yea, you're right about vtsax. VTI is in some sense similar, just that it's an etf. I think you can transfer vtsax though, check once with them
      Jul 12, 2020
    • Amazon
      hey y'all

      Go to company page Amazon

      hey y'all
      Good idea about diversifying! I left 5% portfolio for "exciting/fun" stocks in the industry that I am familiar with(tech). I just started to learn from Jim Collins stock series and looks like VTSAX is an no brainier for long term in his theory. The high risk funds for sure look more fun and rewarding. :)
      Jul 13, 2020
  • Google
    iCXb62

    Go to company page Google

    iCXb62
    It depends. It's called a transfer of securities and is definitely possible. You should check with both ends. Typically, you'd need to fill out a form (sometimes a physical paper copy because they don't want to make it easy for you.) that authorizes this transfer.
    Jul 11, 2020 5
    • Google
      iCXb62

      Go to company page Google

      iCXb62
      I don't think there's a company policy however you'll still need to respect the company blackout dates. Once you transfer securities to a different broker, they won't be able to stop you from trading during blackout dates.
      Jul 11, 2020
    • Amazon
      Freedo

      Go to company page Amazon

      Freedo
      OP
      Good point. Let me check internal docs
      Jul 11, 2020
  • Transfer of stocks from one broker to another is completely online and may take up to to 10 days, just takes around 10-15 mins to submit. You can do partial or full transfer. Some of the broker you are transferring from may charge 50-75$ for transfer, talk to chase, they may refund the fee charged. I have done multiple times in past like ally to robihoof, then robinhood to fidelity . Both the times, the broker I transferred to covered the fee:-). However I am not sure about RSU and ESPP. Best would be to call chase and ask.
    Jul 11, 2020 1
  • Perfectly normal and relatively common. You may be charged a fee.
    Jul 11, 2020 0