What to Expect When Transferring Financial Accounts To Gilbert Wealth
Transferring your investment or retirement accounts to a new advisor or financial institution is far simpler than most people expect. The process is…
- Standardized across the industry
- Designed to be secure
- Requires little involvement beyond the authorization
Authorize Transfer
The first step to transferring your account to Gilbert Wealth is the authorize the transfer. We will require two things to complete this step:
First Part
You will need to provide a current statement for your accounts.
What You Do: Provide Gilbert Wealth a copy of the latest statement.
What Gilbert Wealth Does: Once we receive these, we will complete all of the paperwork to open accounts, link to your banks (if desired), and the paperwork to transfer.
Second Part
You will authorize the transfer by signing the paperwork we prepared:
What You Do: Use Schwab eAuthorization or physically sign paperwork
What Gilbert Wealth Does: Once the paperwork is signed, Gilbert Wealth will submit to Charles Schwab who will begin the process with your current firm to transfer the account.
That's it from you!
That’s right. No further action is needed from you in most cases.
We handle the rest of the transfer process.
Transfer the Accounts
Once the paperwork is completed and submitted, Gilbert Wealth will work behind the scenes with Charles Schwab to move the accounts. Here is a quick video explaining what happens.
How Long the Process Usually Takes
Most standard accounts transfer in 3–7 business days.
Situations that may take longer include:
- Outdated account titles or personal information
- Old employer plans
- Non-publicly traded investments
- Paper-based transfers that require signatures
What "In-Kind" Means
An in-kind transfer keeps your existing holdings intact. For example:
- Shares of a mutual fund or ETF move from Firm A’s account to Firm B’s account.
- Any cash moves as cash.
- Cost basis information usually follows automatically.
In-Kind transfers benefit you in the following ways:
- No Taxes for the Transfer
- You Stay Invested during the Transfer
Transfers only turn into sales if the security is not allowed at the new firm—for example, a proprietary mutual fund that can only be held at the original institution. In that case, the position must be sold before or during the transfer.
Does Your Former Advisor Need to be Involved?
No. To initiate the transfer, your former advisors does not need to be notified.
They will receive a notification a day or two after the transfer is submitted to your old custodian.
We understand that transitioning from a long-term advisor may be uncomfortable. Here is a guide on what to say:
Transferring your accounts should never feel complicated or disruptive. At Gilbert Wealth, we make the process seamless and walk with you every step of the way. We monitor the transition from start to finish, resolve any issues that arise, and ensure your investments arrive exactly as intended.
Once the account is in place, we will move forward with a clearer, more organized financial picture.
For those who are interested in a more technical and comprehensive overview of transferring accounts, check out What to Expect When Transferring Financial Accounts Between Firms – Gilbert Wealth