We’re sorry to see you go!
To transfer an M1 investment account out of M1, please contact the receiving broker (the institution where the account is going) and ask them to initiate the transfer.
Keep the following in mind regarding outgoing account transfers:
Please wait at least 6 business days from the last deposit into an investment account before initiating an account transfer.
All new deposits into M1 Invest require a 6-business day holding period before they can be withdrawn or transferred.
If you recently deposited into your account, your ACAT transfer may be rejected.
Only full shares are guaranteed to transfer. Fractional shares will be liquidated and transferred as cash following the outgoing transfer.
There is a $100 outgoing ACAT fee for all account types and an additional $100 closing fee for retirement accounts.
For example:
Transferring out your Individual Brokerage Account would incur a fee of $100.
Transferring out your Roth IRA would incur a fee of $200 ($100 for the outgoing ACAT + $100 for the IRA closure fee).
A breakdown of fees can be found at M1 Fee Schedule.
Apex or M1 will send cost basis information to your receiving brokerage within 30 days. If it has been longer than 30 days since your account transfer and the receiving brokerage has not received cost basis information, please contact us.
Residual cash and holdings remaining in a closed M1 account following an outgoing ACAT will be continuously swept up and transferred to your new brokerage for 180 business days. If it has been more than 180 days since your account transfer and the account has remaining cash or holdings, please let us know.
We cannot re-open accounts after an ACAT transfer. However, you can open a new account here.
DTC code and clearing firm for ACATS
M1 supports automated customer account transfers (ACATS) performed by the receiving broker however, the DTC code and clearing firm you reference will depend on your current M1 Account type.
If you're transferring an Individual or Joint Brokerage Account:
DTC code 1497
M1 Finance LLC
Address:
M1 Finance c/o Invest Operations
200 N La Salle St Ste. 800
Chicago, IL 60601
If you're transferring any other investment account types:
DTC code 0158
Apex Clearing
Address:
Apex Clearing c/o Banking
350 N St. Paul Street #1300
Dallas, TX 75201
Brokerage accounts on the M1 platform are either fully disclosed to APEX Clearing or cleared through M1 Finance LLC. Please look at your account statement to determine how your account is cleared.
All investing involves risk, including the risk of losing the money you invest. Past performance does not guarantee future performance. Using margin can add to these risks. Users utilizing APEX cleared margin accounts should review the APEX margin account risk disclosure before borrowing. Users utilizing M1 cleared margin accounts should review the M1 margin account risk disclosure before borrowing. M1 Margin Loans are available on margin accounts with at least $2,000 invested per account. Not available for Retirement or Custodial accounts. Margin rates may vary.
Brokerage products and services are offered by M1 Finance LLC, Member FINRA / SIPC, and a wholly owned subsidiary of M1 Holdings, Inc.
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