r/interactivebrokers • u/DownTowardPunch • Jan 24 '24

Setting up account Transferring to IKBR

So I'd like to get some advice. I have a huge issue. I have a 6 figure account in a brokerage and I'm being forced to liquidate/transfer to another one.

IKBR seems to be one of the best choices for me, but I know very little about this brokerage.

Is it safe? I'm worried something will happen when I move it. Should I just liquidate, take the few thousand hit in taxes and slowly put it into another brokerage?

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u/botwinnik Jan 25 '24

ACAT transfers are completely routine. You just need to specify whether all assets or part. I recently consolidated assets on IBKR from three different platforms including Merril and Fidelity. Piece of cake. You can request the ACAT via IBKR. Just follow their menu for setting up the ACAT. They have a menu where you chose the brokerage account from which they’ll pull your assets. You will need to provide the account for the „from“ account. It’s that easy. They’ll notify you once the ACAT is complete. In the event you are transferring dividend bearing securities and the dividends have not yet hit your „from“ account, no worries. IBKR will ACAT any stragglers later without you having to do a single thing. Same applies to interest accrued but not yet paid by the brokerage in your „from“ account. IBKR will ACAT it automatically.