How to transfer accounts out of M1?

We’re sorry to see you go!

To transfer an M1 Invest Account out of M1, please contact the receiving broker (the institution where the account is going) and ask them to initiate the transfer.

 

Please keep the following in mind regarding outgoing account transfers:

  1. 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    • All new deposits into M1 Invest require a 6-business day holding period before they can be withdrawn or transferred.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.
  2. Only full shares are guaranteed to transfer. Fractional shares will be liquidated and transferred as cash following the outgoing transfer.
  3. 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.

  4. 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.
  5. 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 90 business days. If it has been more than 90 days since your account transfer and the account has remaining cash or holdings, please let us know.
  6. We cannot re-open accounts after an ACAT transfer. However, you can open a new account here.

 

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 your account is 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

 

For all other accounts:

  • DTC code 0158
  • Apex Clearing
  • Address:

Apex Clearing c/o Banking

350 N St. Paul Street #1300

Dallas, TX 75201

 

 

20240209-3382002-10742110

M1 disclosures here.

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