Transferring from Vanguard to Fido - basis question

[tominboise]

I am thinking of consolidating and moving our Vanguard account to Fidelity. The Vanguard account is a regular taxable brokerage account, and the holdings would be going to the same sort of account at Fidelity.

If I do so, will all the holdings transfer as is? IE, the mutual funds would go over as themselves, as would stocks and CDs? Does the basis information transfer over as well? Or would I need to note all that information and input it into Fidelity later?

I have kept two separate accounts as I had my personal investments in a Vanguard account for many years and my company switched our retirement accounts to Fidelity before I retired, which is how we ended up with Fidelity too. Having money in two places also cushions against one having technical issues or something else tying up $$ when I might need access. So is consolidating even a good idea?

 

[VanWinkle]

I have funds at both brokerages. I would document your cost basis on any funds being transferred so that you con confirm that the basis was transferred correctly. You may want to convert to ETFs at Vanguard first as they will be available at Fido without transaction costs of Vanguard funds. I keep both FIDO and Vanguard but not for diversity reasons.

VW

 

[PaunchyPirate]

The funds will transfer over as-is IF Fidelity is willing to hold those funds. Most likely they will. But the first step in doing this is to always call the company you are moving to and specifically ask them, investment by investment, if it will transfer over as-is. And if they say yes, you also want to ask them if there will be any charge to buy, sell, or re-invest dividends of that fund. Just so you will know. Most ETFs will be fine. Some mutual fund families aren't handled by all brokers.

Stocks will transfer just fine unless they are penny stocks or some weird type of stock. Ask about them if they are.

I do not know about CDs.