Transfer JP Morgan Chase to Fidelity or Vice Versa (2024)
Transfer Fidelity to JP Morgan Chase or Vice Versa
The ability to transfer brokerage accounts between firms has become much easier with the use of the Internet. If you have a securities account with Fidelity or J.P. Morgan Investing and want to switch to the other, follow this guide.
Transfer from Fidelity to J.P. Morgan Chase
Follow the steps below to move your assets between these two firms using the ACATS network.
First, you’ll need to open a brokerage account with J.P. Morgan Investing. An existing account can be used if it has the same name as your Fidelity account and is the same account type. For example, you can’t transfer a custodial account into a joint account.
Second, prepare the Fidelity account for the transfer. Cryptocurrencies held in your Fidelity account cannot be moved through the ACATS system. Any mutual funds at Fidelity that aren’t available at J.P. Morgan Self-Directed Investing will need to be handled similarly.
Option contracts can generally be transferred, but contracts with less than a week to expiration should not be moved.
Fractional shares of stocks or ETFs cannot be transferred through ACATS. You can either sell them before the transfer, or Fidelity will do it for you during the transfer process.
Third, make sure the J.P. Morgan Investing account is ready. If you are transferring options contracts, you will need to add options trading privileges to your J.P. Morgan account.
Fourth, submit a transfer request with J.P. Morgan Investing. This is easily done on the broker’s website. Click on the Pay & transfer tab at the top of the website and select Transfer securities from the drop-down menu.
On the next page, look for the link to connect an external investment account. Several popular brokerage firms, including Fidelity, will be listed. Click on Fidelity’s logo. You can connect your Fidelity account using either login credentials or your account number. If you choose the account number option, J.P. Morgan Investing will require a Fidelity account statement dated within the last 6 months.
You can choose to do either a full or partial transfer. A full transfer will close your Fidelity account, while a partial transfer will keep it open. The online form described here only supports full transfers. Partial transfers require a paper form.
Best Alternatives
Transfer from J.P. Morgan Chase to Fidelity
To transfer a brokerage account from J.P. Morgan Chase to Fidelity, follow the same basic steps outlined above, switching the firms.
Fidelity offers trading in all asset classes available at J.P. Morgan Investing, but specific mutual funds may not be available. It’s a good idea to check with Fidelity to make sure the mutual funds you hold can be transferred.
To start a transfer request with Fidelity (the incoming broker in this case), log into your account and click the transfer link in the top-left corner of the site. On the next page, select the link to transfer an account to Fidelity. You’ll be provided with information about transfers, and in the middle of the page, there’s a blue button to start a transfer. Click on it, and select "JP Morgan Chase" as the outgoing firm. Follow the prompts to submit the request.
Transfers Involving Robo Accounts
Both Fidelity and J.P. Morgan Investing offer automated-investing accounts. You can transfer into or out of a robo account with either firm, but only cash can be transferred in these cases. This means you will need to sell your holdings, which could result in tax consequences. Be sure to consult a tax professional before proceeding.
Cost of Transferring
Fidelity does not charge for incoming or outgoing ACATS transfers. J.P. Morgan Investing, however, charges $75 for a full outgoing transfer. Fidelity will refund this fee if the transfer is valued at $25,000 or more.
How Long Does an ACATS Take?
Expect the transfer to take about a week and a half for both full and partial transfers. Cash from the sale of fractional shares may arrive a few days later. If there are any errors during the process, the transfer could take longer.
Updated on 10/16/2024.
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