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? asked in Business & FinanceInvesting · 2 months ago

Can I transfer from one company to another?

I'm not happy with the service I'm getting from my Investment company, especially at tax time when receiving tax slips. They say the slips are available in the online account, but that's not exactly true. Some are mailed. Each year I've waited for this company to send my the tax slips...they're always last. I get conflicting information from whoever I speak with. Frankly, I'm quite annoyed by it all. There are other things too, but I feel I may be better off with another company.

How do I go about having my account transferred to another Company? This pertains to Canada. Thanks!

Update:

"The Old Guy" wrote.. "Request they ACATS from your old firm to the new firm.

What in sam-hill is ACATS????

Update 2:

While I agree with kswck2 to an extent when he/she says tax paperwork always seems to be late, this is not the case  here. I'm always getting conflicting information to people I speak with at my current company. If we're told tax slips can be found in our online accounts...that's where they should be; not one on line, then others sent in the mail. Any exceptions should be relayed to the client.

2 Answers

Relevance
  • kswck2
    Lv 7
    2 months ago

    Tax paperwork Always seems to be late, no matter which company you have. And inevitably they will send your a CORRECTION, long after you have already filed your taxes. 

    But you can change whatever brokerage house you are currently using-just keep in mind that most have 'Transfer Fees' just to penalize you a bit for taking your money away from them. 

  • The Old Guy
    Lv 6
    2 months ago

    You can your "new" company -  Request they ACATS from your old firm to the new firm.  Provide the company your new account number and the account number of your old account.

    As long as your positions are generally acceptable, it will usually takes about five days once the agreements are submitted..

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