We’re sorry to see you go!
In order to transfer your 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.
M1 supports automated customer account transfers (ACATs) that are performed by the receiving broker.
The DTC code and clearing firm you reference will depend on your current M1 Account type.
If your account is an Individual Brokerage Account:
- DTC code 1497
- M1 Finance LLC
M1 Finance c/o Invest Operations
200 N La Salle St Ste. 800
Chicago, IL 60601
Note: M1 Individual accounts are being migrated to be cleared by M1. Before all migrations are complete, some individual accounts are cleared by our clearing partner Apex. You can contact us to confirm whether your Individual account is cleared by M1 (DTC code 1497) or Apex (DTC code 0158).
If your account is not an Individual Brokerage Account:
- DTC code 0158
- Apex Clearing
Apex Clearing c/o Banking
350 N St. Paul Street #1300
Dallas, TX 75201
Note that there is $100 outgoing ACAT fee for all account types and 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.
Breakdown of fees can be found at M1 Fee Schedule.
If you choose to transfer your account to another broker-dealer, only the full shares are guaranteed to transfer. Fractional shares will be liquidated and transferred as cash following the outgoing transfer.