cflannagan wrote:I just took a look at our emails, and it has been almost exactly a month since we submitted ACAT transfer form for the trust funds to go into our newly set up brokerage account (WellsTrade with PMA, 100 free trades a year, which I understand will no longer be offered April 1, 2013).
MN Finance wrote:An actual ACAT transfer should take about a week max, maybe two if there's something out of the ordinary. That said, ACAT is one of many methods that could be used to transfer the assets with the same set of paperwork. They may use and entirely different system to move the money if the ACAT system will not work. The losing firm may require copies of the paperwork, for example (in a "typical" ACAT the gaining firm just enters the request electronically and puts the paperwork in their file, the losing firm never sees it). There could also be a delay setting up the new account since it's a trust, something simple. There most certainly would be other delays if it's a testamentary trust or other irrevocable trust.
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