Asset Transfer

Initiate Asset Transfer

NOTE:

Overview

You can create and submit a request online for the transfer of account holder assets (TOA) currently held at another custodian/broker to your customer's brokerage account at Fidelity. This request can be standalone or can be part of an online account opening process.

At any time before submitting the request, you can save it so you can complete it at a later time. Also, for eligible transfer requests, entitled users can process the transfer of asset form using eSignature.

There are two buttons at the top right portion of the screen.

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Establishing the Delivering Account

  1. If you are performing an asset transfer as part of an account opening process, proceed to Step #3.
  2. If you are performing an asset transfer outside an account opening process, select Service > Asset Transfer > Initiate Asset Transfer.
    NOTE: If you do not have an account in context, the Select an Account: Initiate Asset Transfer pop-up screen displays, so you can search for an account. When you locate the desired account, the Select an Account: Initiate Asset Transfer screen closes and the Initiate Asset Transfer screen displays. If you already have an account in context, the screen displays automatically.
  3. The receiving account's detail displays the top portion of the screen. The fields contained in this section include: Account Number, Account Owner, Registration Type, SSN/TIN (in the xxxxx### format), Secondary Owner(s), if applicable, and Confirmation Number (if part of the account opening process or if saved as a draft). NOTE: You cannot modify this information. At this point, you enter information on the account you wish to transfer, which is known as the Delivering Account.
  4. Select the Select a Firm link to the right of Delivering Firm. The Delivering Firm Lookup pop-up screen displays. NOTE: Select the For firms not listed link to display a pop-up with information that may be helpful when identifying delivering firms.
  5. Enter the Firm Name in the associated text field and then either select the Go button or press the Enter key. A list of matching firms displays. If no firms match the criteria, the table remains blank and Results - 0 Found displays above it. NOTE: You must enter at least three characters in the field. The search uses contains functionality, meaning if the firm name either begins with or contains the characters you enter, it matches your criteria..
  6. A list of firms matching the search criteria displays in the table and Results - N Found (where N represents the number of entries in the list) displays above it. Select (highlight) the firm you wish to use and either select the Use this Firm button that is activated or press the Enter key. You can also double-click the entry to select it.
    OR
    To use a firm name not listed in the results, select the Add a Delivering Firm not shown above checkbox and enter the name (up to sixty (60) characters) in the Firm Name text field.
  7. Required fields related to the selected delivering firm now display in the Delivering Account section of the screen. NOTE: You can select the Change Firm link to display the Delivering Firm Lookup pop-up screen again so you can select a different firm.
  8. Enter the Delivering Firm Account Number in the associated field. The Account Number format represents its format at the Delivering Firm based on its Firm Type. For ACAT transfers, this format is mandatory. NOTE: If the Delivering Firm is a Mutual Fund Firm Type, in some instances mutual fund accounts differ for each individual mutual fund. If this is the case, select the checkbox associated with the Account Numbers Differ for Each Mutual Fund verbiage and provide one of the account numbers. Otherwise, leave the checkbox unchecked and provide the account number at the fund company.
  9. Using the Registration Type drop-down list, select the registration type of the delivering account for the entries in the list. Based upon the Registration Type of the receiving Account Number, only registration types that are valid for your transfer request display in the drop-down list. NOTE: Select the What to do if the registration type is not in list link to display a screen with information that may be helpful. You may change the registration type of the delivering account if it is allowable (such as from Individual to Joint).
  10. Confirm the delivering account ownership using the Check here if the owner(s) on the delivering account do not match the receiving account owner(s) checkbox.
    If the ownership matches exactly, do not check the checkbox.
    OR
    If the ownership is different, select checkbox to display the First Name and Last Name fields for the Primary Owner; completing these fields is required. Select the Add Additional Owner link if you need to specify other owners; if you do so, completing this information is also required. To delete an additional owner, select the Remove Additional Owner link. NOTE: All owner signatures are required. Also, if you are entitled and select to have the transfer of assets (TOA) form signed electronically, the Primary Owner and any Secondary Owner(s) entered here display in the list of owners in the Initiate eSignature(s) screen or Document & Signature Management section (when combining with the account opening process). You can change the names before you submit the request for eSignature.
  11. Proceed to Entering Assets & Instructions.

Entering Assets & Instructions

  1. In this stage, you enter specific information about the assets involved in the transfer and follow different processes based on the type of firm from which they are being transferred. Select the associated link below to go to the process for the desired Delivering Firm Type. NOTE: You can select the Skip Asset Entry checkbox to waive adding assets in this stage. However, if you do, you must provide an asset list with instructions along with the transfer form. If you make this selection, proceed directly to Step #2.
  2. Enter the Estimated Total Value of Transfer in the field provided. NOTE: Please provide the estimated total value of the transfer being requested from a recent statement. The estimated value will assist the clearing firm with the asset collection process reducing potential delays.
  3. If you are requesting a transfer of assets as part of an online account opening process, please select Validating the Forms to return to the New Account topic.
  4. If you are only requesting a transfer of assets, proceed to Validating the Forms in this topic.
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Brokerage or Trust Company

When transferring assets from a brokerage or trust company, you can select whether the transfer type is Full or Partial.

For partial transfers, cash automatically lists as a transferable asset in the List of Assets to Transfer table. You have the option to specify the amount of cash to transfer or to specify none. You cannot delete this row from the table.

NOTE: If the receiving account does not have a margin agreement and/or option agreement on file, a question prompts you to indicate whether the delivering assets include margin debit balances or option positions. This question does not display if the receiving account already has agreements in place.

  1. Using the drop-down, select the Transfer Type:
    • Full Transfer: Money markets may be sold and all other assets transferred in kind.
    • Partial Transfer: Only assets you specify will be transferred in kind.
  2. If Full Transfer: Using the associated radio buttons, if required, make your selections (Yes or No) for the following questions: Are you transferring Option Positions? and Are you transferring Margin Positions?. Then, go back to Step #2 above to complete this stage.
  3. If Partial Transfer: Specify the amount of Cash (if applicable) using the radio buttons by selecting None, All, or the unlabeled radio button associated with the text field. If you select None or All, the text field is disabled; if you select the unlabeled radio button, the text field is enabled so you can enter the partial amount. NOTE: Select the Delete icon to return the selections to their defaults.
  4. To Add Assets:
    • Select the Add Assets link.
    • Using Asset Lookup window that displays, select the Security Type from the associated drop-down list; selections are Stock, Bond, Option, Commercial Paper, Mutual Fund, or Any Type.
    • You can look up the asset by Name, Symbol, or CUSIP, which is determined by you choice in the Lookup By drop-down list.
    • If you select Bond, additional filtering fields display to assist you in locating the asset. There are checkboxes used to indicate the bond type (Corporate, Government, or Municipal). There also are radio buttons to specify the date by which you want to search; options are Coupon Rate or Maturity. Complete the associated date field by entering the date manually or using the Calendar icon; format is MM/DD/YYYY.
    • If you select Commercial Paper, additional filtering fields display to assist you in locating the asset. These fields are Maturity or Coupon Rate. Complete the associated date field by entering the date manually or using the Calendar icon; format is MM/DD/YYYY.
    • If you select Option, additional filtering information displays to assist you in locating the asset. This information is the Option Type radio buttons, either Put or Call.
    • When your search criteria are established, select the Go button or press the Enter key.
    • Choose from the results that display by selecting (highlighting) the desired entry and then selecting the Add button. This action moves the entry to the Selected Asset List. NOTE: If you wish to select more than one entry, hold down the Ctrl key and select the desired entries.
    • Using the same process, continue adding assets as required.
    • When the asset list is complete, select the Apply button. The pop-up closes and you return to the Initiate Asset Transfer screen with the List of Assets to Transfer List populated with your selections.
  5. Specify the transfer amount of each asset. By default, any position added will reflect All as the quantity. To enter only a partial amount, deselect the All checkbox and enter the number of whole shares/positions in the text field.
  6. Using the associated radio buttons, if required, make your selection (Yes or No) for the following questions: Are you transferring Option Positions? and Are you transferring Margin Positions?.
  7. Go back to Step #2 above to complete the Entering Assets & Instructions stage.
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Mutual Fund Company

  1. Select the Add Assets link.
  2. Using Asset Lookup window that displays, select the mutual funds to be transferred. NOTE: The Security Type is Mutual Funds and cannot be changed. You can look up the funds by Name, Symbol, or CUSIP (determined by the selection in the Mutual Fund drop-down list) and enter at least three characters in the associated text field.
  3. When your search criteria are established, select the Go button or press the Enter key.
  4. Choose from the results that display by selecting (highlighting) the desired entry and then selecting the Add button. This action moves the entry to the Selected Assets List. NOTE: If you wish to select more than one entry, hold down the Ctrl key and select the desired entries.
  5. Using the same process, continue adding assets as required.
  6. If you wish to add an asset that is not contained in the search results, select the Add an Asset not shown above checkbox and enter the assets in the text field. Separate each asset you enter with a comma and then select the Add button. NOTE: There is a limit of 120 characters per description.
  7. When the asset list is complete, select the Apply button. The pop-up closes and you return to the Initiate Asset Transfer screen with the List of Assets to Transfer List populated with your selections.
  8. For each asset in the list:
    • Enter the Fund Account #. NOTE: Only provide the actual account number. If you include the fund number, the transfer may be delayed. Also, unless you selected the account differs checkbox in the first section of the wizard, the fund account pre-populates with the account provided in the first section for each mutual fund asset that you add.
    • Using the drop-down list, specify the transfer Instructions, either In-kind or Sell.
    • Specify the transfer amount of each asset. To enter only a partial amount, enter the number of whole shares in the text field. OR If you select the All checkbox, you must enter the "estimated" share amount to ensure proper booking.
  9. Go back to Step #2 above to complete the Entering Assets & Instructions stage.

NOTE: If you wish to delete an asset, select the Delete icon. A warning pop-up screen displays. Select the Yes button to close the pop-up and remove the asset from the list. Select the No button to close the pop-up and disregard the deletion.

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Bank or Credit Union

NOTE:

  1. Choose the transfer instruction by selecting one of the following radio buttons.
    • Liquidate CD immediately and send cash. NOTE: May incur penalty for early liquidation (prior to maturity date).
    • Liquidate CD at maturity and send cash. Manually enter the date or use the Calendar icon to complete the Maturity Date field using the MM/DD/YYYY format. NOTE: Maturity Date must be today and no more than 60 calendar days from today.
    • Send Cash. Select the Quantity type and provide the Amount, if necessary. NOTE: Displays only for retirement accounts.
  2. Go back to Step #2 above to complete the Entering Assets & Instructions stage.
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Insurance Company

NOTE: Penalties and fees may be assessed for a premature liquidation of an annuity.

  1. Choose the transfer instruction by selecting one of the radio buttons.
    • Liquidate annuity and transfer cash immediately.
    • Liquidate only the amount of annuity available without penalty.
    • Liquidate. Specify the amount by entering it in USD in the field provided.
  2. Go back to Step #2 above to complete the Entering Assets & Instructions stage.
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Transfer Agent

You may transfer only one asset at a time from a transfer agent to the receiving account. Also, the transfer agent must liquidate any fractional shares remaining in a non-retirement account so the customer can deposit the amount into the receiving account separately.

  1. Choose the Transfer Type by selecting one of the radio buttons.
    • Transfer all whole shares and sell fractions: This option transfers all of your whole shares to the clearing firm and sells off any fractional shares you may have. Your old account remains open.
    • Transfer all whole shares only: This option transfers all of your whole shares to the clearing firm and leaves any fractional shares you may have in your old account.
    • Transfer all whole shares, sell fractions and close account: This option transfers all of your whole shares to the clearing firm, sells off any fractional shares you may have, and closes your old account.
    • Transfer some eligible whole shares: This option allows you to transfer a certain number of whole shares to the clearing firm. When you select this option, you can specify how many shares you wish to transfer. Any other whole or fractional shares remain in your old account.
  2. Select the Add Assets link.
  3. Using Asset Lookup window that displays, select the stock to be transferred. NOTE: The Security Type is Stock and cannot be changed.
  4. You can look up the funds by Name, Symbol, or CUSIP (determined by the selection in the Stock drop-down list) and enter up to twenty characters in the associated text field.
  5. When your search criteria are established, select the Go button or press the Enter key.
  6. Choose from the results that display by selecting (highlighting) the desired entry and then selecting the Add button. This action moves the entry to the Selected Assets List. NOTE: If you wish to select more than one entry, hold down the Ctrl key and select the desired entries.
  7. Using the same process, continue adding assets as required.
  8. If you wish to add an asset that is not contained in the search results, select the Add an Asset not shown above checkbox and enter the assets in the text field. Separate each asset you enter with a comma and then select the Add button. NOTE: There is a limit of 120 characters per description.
  9. When the asset list is complete, select the Apply button. The pop-up closes and you return to the Initiate Asset Transfer screen with the List of Assets to Transfer List populated with your selections.
  10. Go back to Step #2 above to complete the Entering Assets & Instructions stage.

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Validating the Forms

NOTE: If the transaction is eligible for eSignature, both the Paper Based Signature and eSignature options are available.

  1. When you complete all required fields, select the Validate button. The system performs content and field-level validation checks and flags any errors.
  2. Select the Validate button again after you correct any errors. A Signatures pop-up screen displays.
  3. Select the eSignature radio button to expedite the process using eSignature.
    OR
    Select the Paper Based Signature radio button to choose to either print, sign, and upload the form using Document Submission

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Processing the Forms Using eSignature

NOTE:

Advisor Actions

NOTE: Please do not submit eSignature envelopes for multiple people using the exact same name and email address. If you do, the envelope may fail.

If you choose to collect the investor signatures electronically using eSignature, you must attach any supporting documents or request that the client supply them during the eSignature ceremony. All authorized individuals must sign. If the individual is not included, you must add him or her to the Document & Signature Management section by selecting the Edit signer data or add a new signer link.

  1. Verify or enter the email address for each signer.
  2. Specify the Inclusion Method for each document using the drop-down; options are Attach Now or Request.
  3. If you select Attach Now, select the Upload link to display a Choose File to Upload pop-up that you use to locate the desired document.
  4. Repeat Steps #2 and #3 until all necessary documents are either attached or requested. NOTE: Select the Add Additional Documents link to display additional Inclusion Method and Document Type drop-downs so you can request or attach more files.
  5. If you select Request, select the Choose Signer(s) link to display a list of signers. Select the signer from whom you want the attachment and add a personalized note. This signer will see an instruction page for each document you are requesting along with your personalized note.
  6. When the Document & Signature Management section is complete, select the Submit button. Since the documents and transactions come to Fidelity electronically, there is no need for you to print, sign, and upload them. The Confirmation screen displays the reserved Account Number and Work Item Number. Make a note of these numbers so you can use them to search for the entry in the Service Center Status Grid. NOTE: Links to the prepared forms are at the bottom of the page. Please open and save copies of these forms for your records.

Signer Actions

  1. The signer receives an email from Fidelity Investments that he uses to launch the eSigning ceremony. He selects the View Documents button in the email.
  2. The signer inputs his/her address and the last four (4) digits of his/her social security number so DocuSign can perform a location service.
  3. The signer is then presented with three (3) challenge questions that only he/she would realistically be able to answer. Once he/she successfully answers these questions, he/she is now authenticated to that envelope and can gain access to the signing ceremony.
  4. The signer reviews the forms and adds any necessary required information or documents.
  5. The signer selects and applies an electronic signature on the signature page.
  6. The system notifies the signer when the eSigning process is complete and prompts him/her to select the Finish button.
  7. When the signer completes the eSignature ceremony, he/she receives a confirmation email. He/she can select the View in DocuSign button to access, download, and print the forms if he/she wishes to do so.

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Statusing the Forms

NOTE:

You can use the reserved Account Number or Work Item Number to filter the Service Center Status Grid to locate the specific item so you can take action. Initially, the Work Item's Status is Pending eSignature. When the client completes the eSigning ceremony, its Status changes to Pending HO Approval.

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Filtering the Grid

The Service menu entries accessible from the navigation bar (View (In Process) Account Application and View (In Process) TOA Transaction) and the system default search AO/TOA for Last 60 Days all provide a filtered view of the Service Center Status Grid, where it displays only account opening and transfer of asset Work Items for the designated time period.

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Approving or Rejecting the Forms

  1. Display the details of the Work Item by double-clicking it or right-clicking it and selecting View Request Details in the shortcut menu that displays.
  2. Review the attachments.
  3. Select the Approve button to approve the Work Item; its Status changes to Approved HO.
    OR
    Select the Reject button to reject the Work Item; its Status changes to Rejected HO.

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View (In Process) TOA Transaction

NOTE: Please see Service Center for additional information on its operation and for information on managing eSignature items.

Overview

Selecting Service > Account Servicing > View (In Process) TOA Transaction provides a filtered view of the Service Center Status Grid, where it displays only account opening and transfer of asset Work Items for the last sixty (60) days (default system search labeled AO/TOA for Last 60 Days).

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Status

The following table contains the statuses of the transfer of assets processes.

Status Description
Saved Draft The draft of the form is partially complete (saved before being validated). NOTE: To open the Asset Transfer screen so you can complete the process beginning where you exited it, double-click the entry in the grid OR right-click the entry and select Edit Draft in the shortcut menu that displays.
Pending eSignature The eSigning ceremony was initiated and the forms are awaiting the signers to complete their eSignatures.
Pending HO Approval The signers completed the eSigning ceremony (all eSignatures were collected) and the kit is ready for advisor (home office) review and approval/rejection. NOTE: If not approved within the ten (10) business day approval window, an eSignature item that is Pending HO Approval is auto-approved. The item does not expire nor is it cancelled.
Approved HO The eSignature account kit was approved by the advisor firm.
Rejected HO The eSignature account kit was rejected by the advisor firm.
In Process The item is in process at Fidelity.
Resolved The transfer of assets (TOA) was funded.
Cancelled The eSignature account kit was cancelled by the advisor.
Cancelled eSignature The eSignature envelope was cancelled due to one of the following: failure to authenticate, invalid email, declination to sign, or envelope expiration (thirty (30) days).

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