This guide explains how to transfer investments from another financial institution to M1, including details about transfer methods, documentation, timeline expectations, and common transfer issues.
Understanding account transfers
An account transfer moves investments from another financial institution to M1 without selling your assets or creating a taxable event (in most cases). There are two main transfer methods:
ACAT Transfers (Automated Customer Account Transfer Service)
Definition: An electronic transfer system that moves most securities directly between brokerages
Timeline: Typically 5-7 business days to complete
Benefits: Faster, more secure, and generally more reliable
Eligible brokerages: Most major brokerages support ACAT transfers
Non-ACAT Transfers
Definition: Manual transfers used when the sending institution doesn't support ACAT
Timeline: May take 30-60 days to complete
Process: Requires additional paperwork and manual processing
Used for: Smaller brokerages, credit unions, or certain financial institutions
Important: Any assets that cannot be transferred will need to be liquidated at your current institution before or during the transfer process. This may create taxable events.
Types of transfers
Full Account Transfer
Moves all eligible assets and closes your account at the previous institution
Transfers any cash balance along with securities
Simplifies the process by closing the old account completely
Partial Account Transfer
Moves only specified assets while keeping the original account open
Allows you to maintain relationships with both institutions
Requires you to specify exactly which assets and how many shares to transfer
Preparing for your transfer
Before initiating a transfer, gather the following information:
Recent statement from your current brokerage (less than 90 days old)
Account details including:
Account number
Account type (individual, joint, IRA, etc.)
Name and contact information of your current brokerage
List of holdings you wish to transfer (for partial transfers)
Login credentials for your existing brokerage (to verify information if needed)
Tip: Check with your current brokerage about any potential fees before initiating your transfer.
Step-by-step transfer process
1. Open an M1 account (if you haven't already)
Make sure your M1 account type matches your external account type.
2. Initiate the transfer
Open Chat in Bottom Right Hand Corner of the M1 website or app
Click "Ask a Question"
Select "Transfer an Account into M1"
Choose one of the following options:
"Submit Full Account Transfer" (if your institution is listed)
"Submit Partial Account Transfer" (to transfer specific assets)
"Submit Account Transfer (Firm Not Listed)" (for institutions not in our system)
3. Provide required information
Enter your current brokerage information
Upload a recent statement from your external account
Specify transfer type (full or partial)
For partial transfers, indicate which assets you want to transfer
Review and confirm all details before submission
4. Track your transfer
Check your transfer status in the "Transfers" section of your M1 account
Receive email notifications as your transfer progresses
Allow 5-7 business days for ACAT transfers or 30-60 days for non-ACAT transfers
Note: During the transfer process, you may have limited or no access to the assets being transferred. Plan accordingly to avoid disruptions to your investment strategy.
Troubleshooting common transfer issues
Transfer rejection issues
Mismatched account information: Ensure names, SSNs, and account types match exactly on both accounts
Insufficient funds: If your current brokerage charges transfer fees, ensure you have enough cash to cover them
Ineligible assets: Some assets may need to be liquidated before transfer
Margin debt: Outstanding margin balances may need to be paid before transfer
Delay issues
Peak transfer seasons (typically year-end and tax season) may extend processing times
Incomplete documentation can cause delays or rejections
Non-ACAT transfers naturally take longer to process
Resolution steps
Contact M1 Support for status updates or to address issues
Reach out to your current brokerage if they're causing delays
Provide any additional documentation that may be requested
This content was generated using artificial intelligence and is intended for informational and educational purposes only. While reasonable efforts are made to ensure accuracy, AI-generated outputs may omit key context; and should not be construed as financial, investment, legal, or tax advice. Users should independently verify all information and consult a qualified professional before making any financial decisions.
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