Consolidating Schwab Stocks to My Fidelity Account

[MercyMe]

I have $20k in stocks and ETF's that I bought in 2019... just goofing around with play money at the time. The cost then was $4k. Now I'm trying to consolidate accounts but I don't want to sell the stocks and take the tax hit.

Can I move my stocks and ETF's from Schwab to my Fidelity brokerage account?

 

[MarieIG]

You can always call Fidelity and check - but unless it is something that Fidelity does not hold (which is unlikely) you should be able to transfer your stock and ETFs in kind.

Fidelity is good at extracting stocks and ETFs from other brokerages.

 

[Lewis Clark]

Try calling Schwab and asking if those securities are eligible for an "in kind" transfer.

 

[Texas Proud]

It is really easy to move securities between brokers... I have done it a few times and it takes only a few days...

You can do it all online on the Fidelity website...

Transfer Your Assets-Investments to Fidelity

Transferring your assets to Fidelity is an easy process. Find out more about our three simple steps.

www.fidelity.com

 

[pb4uski]

I have $20k in stocks and ETF's that I bought in 2019... just goofing around with play money at the time. The cost then was $4k. Now I'm trying to consolidate accounts but I don't want to sell the stocks and take the tax hit.

Can I move my stocks and ETF's from Schwab to my Fidelity brokerage account?

Probably, as long as it is going from a Schwab taxable brokerage account to a Fidelity taxable brokerage account and Fidelity will accept those tickets.

 

[copyright1997reloaded]

Yes (short answer).
Longer answer - you can provide a statement to Fidelity to verify that everything can be transferred "in-kind".
Additional: Cost basis data is now supposed to be transferred (which was always an issue in past years).

I've been somewhat consolidating - tax deferred to Fidelity and non-tax deferred to Schwab.

 

[Markola]

I’ve been doing that with mutual funds from Vanguard to Fidelity. The Fidelity app makes it slick, easy and fast, unlike the antiquated reverse direction.

The only hiccup was when I sold inside a Vanguard Roth IRA and sent the cash to a new Fidelity Roth. That took Vanguard a week to settle and then another week once Fidelity received the cash before I could trade. Securities are fast and easy though, maybe 1.5 days total.

 

[Alex The Great]

Does in-kind transfer applicable to Schwab's own ETFs SCHG, SCHD, etc.? What about brokerage CDs? Does Fidelity charge anything extra for holding SCHG, SCHD?

 

[MarieIG]

Does in-kind transfer applicable to Schwab's own ETFs SCHG, SCHD, etc.? What about brokerage CDs? Does Fidelity charge anything extra for holding SCHG, SCHD?

I have SCHD, SCHY and VPU at Fidelity with no extra charge.

I have not transferred CDs.

 

[Exit 2024]

I am exploring opposite move, from Vanguard and Fidelity to Schwab.

For OP I think if you have "stock slices" at Schwab - you can not move them "in kind".
Other than that all should be no issues.

Also make sure that you do not start the move with pending dividends (after record date but before payout day), last time I did that- dividends were completely lost between 2 brokerages. It was very small amount but still both of them stated that they can not credit them to my account, pointing fingers to each other.

Not sure about CDs but would think they should be ok too.

 

[Alex The Great]

For OP I think if you have "stock slices" at Schwab - you can not move them "in kind".

Does Schwab even allow stock slices? I thought it is not. At least I do not have it.

 

[MarieIG]

Does Schwab even allow stock slices? I thought it is not. At least I do not have it.

I was just transferred over there from TD Ameritrade. I am not comfortable yet, but I believe they have a list of stock for which they allow slices. (I would go back and look but probably wouldn't find it.)

Update: Charles Schwab

 

[Exit 2024]

Does Schwab even allow stock slices? I thought it is not. At least I do not have it.

Yes they do, but only stocks from S&P500, not ETFs.

 

[MercyMe]

I started the process this morning. I’ll report back here if it goes sideways for some reason.

 

[Alex The Great]

I started the process this morning. I’ll report back here if it goes sideways for some reason.

Did you start it online or with a phone call? Yes please inform us if any issues. I also wanted to consolidate everything at Fidelity, because I have just a tiny fraction of investments at Schwab.