Does Vanguard send out email confirmation for ACATS out?

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Topic Author
userwithconcern
Posts: 88
Joined: Mon Dec 23, 2019 12:35 pm

Does Vanguard send out email confirmation for ACATS out?

Post by userwithconcern »

I read a Reddit thread from some time ago saying that their assets were ACATSed out of their Robinhood account, without even an email confirmation!

https://www.reddit.com/r/personalfinanc ... ccount_to/

I am concerned that I might similarly lose assets and not notice (especially if it is not a huge % of the account) from Vanguard or Fidelity. Can you guys confirm that Vanguard and Fidelity send out emails when you initiate an ACATS out? Thanks.
Topic Author
userwithconcern
Posts: 88
Joined: Mon Dec 23, 2019 12:35 pm

Re: Does Vanguard send out email confirmation for ACATS out?

Post by userwithconcern »

At Vanguard, is there a transaction history entry when there is an ACATS out from Vanguard to some other broker? If yes, what does this look like?
Topic Author
userwithconcern
Posts: 88
Joined: Mon Dec 23, 2019 12:35 pm

Re: Does Vanguard send out email confirmation for ACATS out?

Post by userwithconcern »

Can anyone with experience doing ACATS transfers kindly respond?
sycamore
Posts: 1219
Joined: Tue May 08, 2018 12:06 pm

Re: Does Vanguard send out email confirmation for ACATS out?

Post by sycamore »

userwithconcern:

I transferred assets from Vanguard to Merrill Edge, and I assume ACATS was used (I don't know how to verify that it was).

Online, in the Vanguard transaction history, I see an entry showing "Transfer (outgoing)" in the "Transaction type" field, and "Transfer to Another Account" in the "Transaction description" field. In my monthly statement, in the "Completed transactions" table, I see an entry for the transfer where the "Name" field indicates the ETF that was transferred and also where it was transferred ("TO: MERRILL LYNCH, PIERC").

I don't remember if I got an email or not. I searched through my email folders but nothing came up (entirely possible I actually got an email for it but then deleted it, which is what I do when I'm done with any email). Try asking Vanguard customer support if no one else here chimes in.
arf30
Posts: 738
Joined: Sat Dec 28, 2013 11:55 am

Re: Does Vanguard send out email confirmation for ACATS out?

Post by arf30 »

I just did a partial ACATS out of Vanguard two weeks ago and don't remember any email or secure message, the shares were just gone one day with a line item in the activity history tab. They showed up in the destination brokerage a few days before leaving Vanguard so I felt temporarily rich. The whole process was very smooth including ETF conversion with properly generated cost basis.
Topic Author
userwithconcern
Posts: 88
Joined: Mon Dec 23, 2019 12:35 pm

Re: Does Vanguard send out email confirmation for ACATS out?

Post by userwithconcern »

sycamore wrote: Thu Sep 24, 2020 6:36 pm userwithconcern:

I transferred assets from Vanguard to Merrill Edge, and I assume ACATS was used (I don't know how to verify that it was).

Online, in the Vanguard transaction history, I see an entry showing "Transfer (outgoing)" in the "Transaction type" field, and "Transfer to Another Account" in the "Transaction description" field. In my monthly statement, in the "Completed transactions" table, I see an entry for the transfer where the "Name" field indicates the ETF that was transferred and also where it was transferred ("TO: MERRILL LYNCH, PIERC").

I don't remember if I got an email or not. I searched through my email folders but nothing came up (entirely possible I actually got an email for it but then deleted it, which is what I do when I'm done with any email). Try asking Vanguard customer support if no one else here chimes in.
Thanks user syncamore. If you did an in-kind transfer, without liquidating assets, that is presumably an ACATS transfer.
Topic Author
userwithconcern
Posts: 88
Joined: Mon Dec 23, 2019 12:35 pm

Re: Does Vanguard send out email confirmation for ACATS out?

Post by userwithconcern »

arf30 wrote: Thu Sep 24, 2020 7:14 pm I just did a partial ACATS out of Vanguard two weeks ago and don't remember any email or secure message, the shares were just gone one day with a line item in the activity history tab. They showed up in the destination brokerage a few days before leaving Vanguard so I felt temporarily rich. The whole process was very smooth including ETF conversion with properly generated cost basis.
Thank you arf30. This is pretty scary since someone could hypothetically create a fraudulent account at a different brokerage in my name and then ACATS my holdings into that account and from there wherever else they want to.

Just to be sure, by "activity history", you are referring to Vanguard's "transaction history"? And also, was yours a brokerage account or a mutual fund only account?
arf30
Posts: 738
Joined: Sat Dec 28, 2013 11:55 am

Re: Does Vanguard send out email confirmation for ACATS out?

Post by arf30 »

userwithconcern wrote: Thu Sep 24, 2020 7:34 pm Thank you arf30. This is pretty scary since someone could hypothetically create a fraudulent account at a different brokerage in my name and then ACATS my holdings into that account and from there wherever else they want to.

Just to be sure, by "activity history", you are referring to Vanguard's "transaction history"? And also, was yours a brokerage account or a mutual fund only account?
It's under the activity tab in a brokerage account, as "transfer (outgoing)".
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