Transfer your US Stock Holdings to Vested!

by Vested Team
February 8, 2024
5 min read
Transfer your US Stock Holdings to Vested!

Ready to move your US stocks, ETFs, and holdings to Vested? We offer a seamless process to make your transition smooth and hassle-free. This article outlines the steps for a hassle-free transition from any broker to Vested, covering two types of transfers:

  1. DriveWealth (Other platforms) to DriveWealth (Vested) 
  2. Other US Broker to DriveWealth (Vested) 

1. DriveWealth (Other platforms) to DriveWealth (Vested) 

If you already have an account via one of the platforms that also work with DriveWealth, you should follow the below:

Process 

Charges 

  • DriveWealth will charge $65 as fees to the transferring account. If you transfer securities from XYZ to Vested, you will be charged $65 in the XYZ account.

Things to note 

  • You can only transfer full shares (fractional shares cannot be transferred). 
  • In the case of fractional shares, we advise liquidating and moving the cash balance to Vested.

2. Other US Broker to DriveWealth (Vested) 

If you have an account with a US Broker other than DriveWealth, there are different methods to transfer the holdings. The process depends on the transfer method supported by your existing broker.

1. ACATS (Automated Customer Account Transfer Service)

ACATS is the most common transfer method. It allows you to transfer whole shares and cash between brokers as-is without needing to sell investments.

Process 
Charges 
  • Neither DriveWealth nor Vested imposes any fee for incoming ACATS transfers.
  • However, your existing broker may impose certain charges. Please get in touch with your broker to know their charges. 
Things to note
  • Your account will be frozen until the transfer is completed. 
  • You will not be able to transfer fractional shares, and you can only transfer whole shares. You may liquidate your fractional holdings and transfer cash.

2. DRS (Direct Registration System)

A DRS transfer allows the electronic transfer of shares between a broker-dealer and a transfer agent.

Process 
  • Open a Vested account with a quick and digital process.
  • Send a completed copy of the Incoming DRS Transfer Form along with a transfer statement from the Transfer Agent to Vested at help@vestedfinance.co.
    • Here is the sample DRS transfer form for your reference.
  • Vested reviews and sends the transfer request to DriveWealth.
  • DRS transfer requests settle within 3-5 business days.
Charges 
  • DriveWealth charges US$ 55 per position for DRS transfers. You may also refer to the DriveWealth fee schedule here.
Things to note
  • Your account will be frozen until the transfer is completed. 
  • You will not be able to transfer fractional shares, and you can only transfer whole shares. 
  • You can only transfer shares, and cash can only be transferred using the ACATS method.

3. DTC (Depository Transfer Check)

A DTC transfer allows clients to transfer whole stock positions between brokers electronically. This is an alternative process if a broker does not support the ACATS method.

Process 
  • DTC transfer requests settle within 3-5 business days.
Charges 
  • DriveWealth charges US$ 35 per position for DTC transfers. You may also refer to the DriveWealth fee schedule here.
Things to note
  • Your account will be frozen until the transfer is completed. 
  • You will not be able to transfer fractional shares, and you can only transfer whole shares. 
  • You can only transfer shares, and cash can only be transferred using the ACATS method.

Benefits of choosing Vested

Vested goes beyond just buying and selling US stocks. We offer a comprehensive end-to-end experience that sets us apart from the competition. Here’s what makes Vested your ideal partner for US investing:

  • Seamless transfers: Move your US holdings smoothly with our easy-to-follow guides and helpful support.
  • Cost-effective: Enjoy free incoming ACATS transfers and competitive fees for other transfer methods.
  • Fractional shares: Invest in any US stock, even with small amounts.
  • Extended hours trading: Trade before and after traditional market hours.
  • Recurring investments: Set up SIPs to grow your portfolio steadily.
  • Tax-loss harvesting: Optimize your tax position with our intelligent tools.
  • Ready portfolios or Vests: Choose from pre-built models across various themes and asset classes or create your own.
  • Simplified tax filing: Access all necessary documents for stress-free tax filing, simplifying the tax season process.
  • Premium features: Upgrade to our premium plan for prioritized support, lower brokerage, additional multi-asset class Vests, and more.
  • Trusted Brand: Invest confidently with Vested, which is trusted by leading financial institutions. Benefit from exceptional customer support and in-depth market insights and analysis.
  • User-friendly platform: Experience a user-friendly platform seamlessly integrated with advanced tools, ensuring a smooth and enhanced user experience.

General points to note

  • Transferring stocks incurs no capital gains tax, as it’s a dealer transfer, not a sale.
  • Maintain your transaction records with the earlier platform for tax filing purposes.

In conclusion, making the move to Vested for your US stocks and ETFs is a straightforward process with a lot of benefits. Whether you’re transferring within DriveWealth or from another US broker, Vested streamlines the transition with clear steps and support. The platform ensures a hassle-free transfer and offers a comprehensive investing experience with unique features, expertly crafted portfolios (Vests), and premium plans for added advantages. 

Trusted by industry leaders and committed to customer satisfaction, Vested stands out as a reliable partner for your US investment journey. Make the switch today and enjoy a seamless and enriching investment experience with Vested.

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