We make sure you can move your existing US stock portfolio (securities & cash) over to Stake with as little hassle as possible.
The process is pretty straightforward and the speed and cost that your existing brokerage charges you can differ. These are set out below.
For existing DriveWealth customers or brokers using DriveWealth
If your existing broker uses DriveWealth or you have a DriveWealth account the process to make a full account transfer is fast and free. Getting your transfer completed should take you less than 5 minutes of your time.
If your broker tells you there is a charge, they are pocketing this money and using it as a barrier to keep you from transferring your assets out (instead of building you a better product).
The process is super simple and the transfer happens between trading sessions, so there will be no interruption to your investing. All you'll need to do is complete the online form here - Share Transfer Form
From other brokers
Stake’s US broker partner (DriveWealth) accepts ACATS and DTC Share Transfers. This will depend on which process your existing broker supports.
The ACATS process is fast, free and super simple. ACATS transfers allows you to make a full account transfer of both cash and securities from your existing broker. It will take less than 5 minutes of your time! All you'll need to do is complete the form here - Share Transfer Form
Once you've done that, we'll handle the rest of the process with your existing broker and your portfolio should be in your Stake account in just a few days.
A few brokers still only support the old-school DTC transfers for portfolio transfers, which are provided by the Depository Trust & Clearing Corporation (DTCC) to transfer securities (cash positions are not transferred over).
Please note that DTC transfers incur a $15USD fee per security holding (charged by our broker DriveWealth). To ensure that your transfer is processed efficiently, your account will need to be funded with this prior to the transfer being effected.
Share transfers through the DTC process can take up to 4-6 weeks but we endeavour to ensure they are complete in 2-3 weeks. We try make this as painless as possible and take care of all the headaches for you.
All you have to do is take complete the form here - Share Transfer Form which will take you around 5 minutes to complete.