Move assets from one Vanguard account to another

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dukes94
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Joined: Fri Aug 21, 2020 4:46 pm

Move assets from one Vanguard account to another

Post by dukes94 »

I currently own a mix of index funds and stocks, all held within a single Vanguard brokerage account. I would like to move my stocks into a separate Vanguard brokerage account. I've opened the 2nd account but can't figure out how to move the stocks into it - I only see a way to move money. Could someone help me figure out how to do this?
runninginvestor
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Re: Move assets from one Vanguard account to another

Post by runninginvestor »

Sounds like you want to do an in-kind transfer. Earlier this year when we tried doing this we called in to ensure it was handled appropriately. It seemed like you may have been able to use the "exchange" button, but wasn't sure so opted for the safe measure of calling and having the rep do it. Note that the names on the account should match or there may be some hiccups.

Here is the thread:
viewtopic.php?t=333266

Edit: be sure cost basis and cost basis selection is correct immediately after transfer.
mkc
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Re: Move assets from one Vanguard account to another

Post by mkc »

runninginvestor wrote: Wed Jul 21, 2021 7:41 pm Sounds like you want to do an in-kind transfer. Earlier this year when we tried doing this we called in to ensure it was handled appropriately. It seemed like you may have been able to use the "exchange" button, but wasn't sure so opted for the safe measure of calling and having the rep do it.
Isn't "exchange" at Vanguard just shorthand for "sell holdings in fund X, then use all the proceeds to buy fund Y"? Potentially creating a taxable event.

I don't believe "exchange" is to move holdings from one account to another. I would call VG.
runninginvestor
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Re: Move assets from one Vanguard account to another

Post by runninginvestor »

mkc wrote: Wed Jul 21, 2021 7:56 pm
runninginvestor wrote: Wed Jul 21, 2021 7:41 pm Sounds like you want to do an in-kind transfer. Earlier this year when we tried doing this we called in to ensure it was handled appropriately. It seemed like you may have been able to use the "exchange" button, but wasn't sure so opted for the safe measure of calling and having the rep do it.
Isn't "exchange" at Vanguard just shorthand for "sell holdings in fund X, then use all the proceeds to buy fund Y"?

I don't believe "exchange" is to move holdings from one account to another.
That is the case normally (sell&buy), but through the other thread VG seems to claim that it may be a transfer. I don't trust reps so I err on the side of caution and just call to do it.
nalor511
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Re: Move assets from one Vanguard account to another

Post by nalor511 »

mkc wrote: Wed Jul 21, 2021 7:56 pm
runninginvestor wrote: Wed Jul 21, 2021 7:41 pm Sounds like you want to do an in-kind transfer. Earlier this year when we tried doing this we called in to ensure it was handled appropriately. It seemed like you may have been able to use the "exchange" button, but wasn't sure so opted for the safe measure of calling and having the rep do it.
Isn't "exchange" at Vanguard just shorthand for "sell holdings in fund X, then use all the proceeds to buy fund Y"? Potentially creating a taxable event.

I don't believe "exchange" is to move holdings from one account to another. I would call VG.
The phone rep told me if it's the same fund there will be no sell
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Cheez-It Guy
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Re: Move assets from one Vanguard account to another

Post by Cheez-It Guy »

I did this previously for a family member. It was years ago. At that time, the recommended course of action was a "Letter of Instruction" which literally spelled out how many shares of which holdings to move from one specific account number to another specific account number. Typed in Microsoft Word, exported as a PDF, and attached to a secure message send to Vanguard. Transfer occurred without issue. However, those were two joint accounts with slightly different registrations (same two people, but different primary owners per account). It would be best to check and double-check on something like this to avoid a costly and time-consuming mess.

Also, why do you want to do this? Isn't it just making things more administratively complicated? Usually proliferation of accounts is not something to strive for.
UpperNwGuy
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Re: Move assets from one Vanguard account to another

Post by UpperNwGuy »

Cheez-It Guy wrote: Thu Jul 22, 2021 6:43 am Usually proliferation of accounts is not something to strive for.
I agree.
bradinsky
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Re: Move assets from one Vanguard account to another

Post by bradinsky »

Our accounts are at Schwab. I can & have transferred holdings between like-type accounts (taxable/retirement) with a phone call. The investments are transferred to the receiving account & it’s recorded as a journal entry. Very easy to do.
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MahoningValley
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Re: Move assets from one Vanguard account to another

Post by MahoningValley »

UpperNwGuy wrote: Thu Jul 22, 2021 6:54 am
Cheez-It Guy wrote: Thu Jul 22, 2021 6:43 am Usually proliferation of accounts is not something to strive for.
I agree.
I'm not sure why you need to do that. A taxable account is a taxable account.
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Toons
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Re: Move assets from one Vanguard account to another

Post by Toons »

Call Vanguard
I just dd an "in kind" with Vanguard.
They will make it easy
took about 5 days
cost basis included
:D
"One does not accumulate but eliminate. It is not daily increase but daily decrease. The height of cultivation always runs to simplicity" –Bruce Lee
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Wiggums
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Re: Move assets from one Vanguard account to another

Post by Wiggums »

dukes94 wrote: Wed Jul 21, 2021 7:25 pm I currently own a mix of index funds and stocks, all held within a single Vanguard brokerage account. I would like to move my stocks into a separate Vanguard brokerage account. I've opened the 2nd account but can't figure out how to move the stocks into it - I only see a way to move money. Could someone help me figure out how to do this?
I am not sure how a second brokerage account accomplishes if the both share the same SSN and are both a taxable, brokerage account.

Am I missing something?
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David Jay
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Re: Move assets from one Vanguard account to another

Post by David Jay »

dukes94 wrote: Wed Jul 21, 2021 7:25 pmI would like to move my stocks into a separate Vanguard brokerage account.
Why?
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius
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F150HD
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Re: Move assets from one Vanguard account to another

Post by F150HD »

I would like to move my stocks into a separate Vanguard brokerage account.
how many is one allowed to have? (not that I plan to open 100 of them)
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David Jay
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Re: Move assets from one Vanguard account to another

Post by David Jay »

F150HD wrote: Thu Jul 22, 2021 9:10 am
I would like to move my stocks into a separate Vanguard brokerage account.
how many is one allowed to have? (not that I plan to open 100 of them)
I doubt that Vanguard has a hard maximum…
Prediction is very difficult, especially about the future - Niels Bohr | To get the "risk premium", you really do have to take the risk - nisiprius
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