What is an ACATS transfer?

An ACATS transfer lets you move securities and cash between brokerage firms without having to sell your positions first.

How it works:

• ACATS stands for Automated Customer Account Transfer Service
• Transfers are processed electronically between participating broker-dealers
• You can transfer all or part of an account

Important:

• Not all securities are eligible for transfer
• Open orders should be canceled before initiating a transfer
• Account information must match between the two firms