Recent Transfer from Vanguard to Fidelity

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monkeytypist
Posts: 15
Joined: Sun Jan 21, 2018 5:07 pm

Recent Transfer from Vanguard to Fidelity

Post by monkeytypist »

Hi all, I know there have been many posts on this topic, but I'm seeking information from someone who did a *recent* full-account transfer from Vanguard to Fidelity.

I submitted an application this week to transfer my Roth IRA from Vanguard to Fidelity in full. The Roth contains ETF shares, and I see that the whole ETF shares were transferred but the partial share was liquidated and currently remains at Vanguard. My question is: will the liquidated cash automatically transfer over?

I do see past posts saying that it will, but last month I did a brokerage transfer (though not in full) and the cash proceeds from liquidating the partial share was *not* transferred over.

Thanks!
PersonalFinanceJam
Posts: 92
Joined: Tue Aug 24, 2021 8:32 am

Re: Recent Transfer from Vanguard to Fidelity

Post by PersonalFinanceJam »

monkeytypist wrote: Sat Jan 08, 2022 9:30 am Hi all, I know there have been many posts on this topic, but I'm seeking information from someone who did a *recent* full-account transfer from Vanguard to Fidelity.

I submitted an application this week to transfer my Roth IRA from Vanguard to Fidelity in full. The Roth contains ETF shares, and I see that the whole ETF shares were transferred but the partial share was liquidated and currently remains at Vanguard. My question is: will the liquidated cash automatically transfer over?

I do see past posts saying that it will, but last month I did a brokerage transfer (though not in full) and the cash proceeds from liquidating the partial share was *not* transferred over.

Thanks!
Yes it will assuming you really selected to do a full account transfer. I did mine about a year ago and this is exactly how it happened. The securities came over pretty quickly and then the leftover cash came several days later.
bondsr4me
Posts: 1907
Joined: Fri Oct 18, 2013 7:08 am

Re: Recent Transfer from Vanguard to Fidelity

Post by bondsr4me »

yes.....these "residuals" will be transferred also if you did a FULL ACCOUNT TRANSFER.
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JoMoney
Posts: 12752
Joined: Tue Jul 23, 2013 5:31 am

Re: Recent Transfer from Vanguard to Fidelity

Post by JoMoney »

Hopefully you get a reply from someone with experience on doing that.
FWIW, I haven't done it, but my assumption would be that if you requested a full/100% account transfer, the cash will also be transferred, it just takes a bit longer as they will not transfer partial shares (so they must be sold), and they won't transfer unsettled proceeds from a sale, so it seems to me it should be transferred from the prior request - just delayed by the settlement period.
I would suggest you send a secure message to Vanguard to get an answer from them, but I've heard that's among the customer service features they've dropped the ball on :(
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
intendi
Posts: 80
Joined: Sat Oct 17, 2020 10:16 am

Re: Recent Transfer from Vanguard to Fidelity

Post by intendi »

Just did the same thing (Roth Vanguard-->Fidelity). Whole shares transferred over in kind 12/23. I received two cash transfers, the first on 12/28 and the second on 12/31. One of these was the fractional share cash and the other I assume was the dividend payout. Eventually it did all come over without any fuss.
MechEngOSU
Posts: 82
Joined: Sat Mar 30, 2013 10:05 am

Re: Recent Transfer from Vanguard to Fidelity

Post by MechEngOSU »

Did you push from Vanguard or pull from Fidelity? When I did this by pulling from Fidelity, the partial shares came over as cash a week or two later. It was not longer than that. If it has been longer, I would call Fidelity not Vanguard to help with the pull finalization.
SxSW
Posts: 148
Joined: Sat Mar 23, 2019 9:25 am

Re: Recent Transfer from Vanguard to Fidelity

Post by SxSW »

Not only will the cash sweep over, but any residual dividends will sweep over for the next several months as part of the transfer process.
Topic Author
monkeytypist
Posts: 15
Joined: Sun Jan 21, 2018 5:07 pm

Re: Recent Transfer from Vanguard to Fidelity

Post by monkeytypist »

Thanks all. To close the loop on this, the cash proceeds from the fractional ETF share swept over automatically, and timeline was identical to intendi's.
nalor511
Posts: 2458
Joined: Mon Jul 27, 2015 1:00 am

Re: Recent Transfer from Vanguard to Fidelity

Post by nalor511 »

MechEngOSU wrote: Sat Jan 08, 2022 10:33 am Did you push from Vanguard or pull from Fidelity? When I did this by pulling from Fidelity, the partial shares came over as cash a week or two later. It was not longer than that. If it has been longer, I would call Fidelity not Vanguard to help with the pull finalization.
I think acats is pull only
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