How we assist transfer your outdated accounts to Betterment

Transferring funding accounts from one supplier to a different will be difficult. You might be within the early days of mulling over a transfer. Or perhaps you’re able to make a change and easily want a little bit assist making it occur.

Wherever you’re within the course of, we’re right here to assist. And when you’re able to act, you may simply begin the ball rolling within the Betterment app. The steps differ barely completely different relying in your scenario and the way keen your outdated supplier is to play ball:

• ACATS — Most taxable accounts, and even some retirement accounts, will be transferred robotically by merely connecting your outdated supplier’s account to Betterment. You keep invested, and the whole course of usually takes lower than every week.
• Direct rollover/switch — Some retirement account suppliers, in the meantime, require a verify be mailed to both you or your new supplier. In these circumstances, we offer step-by-step directions for reaching out to your outdated supplier to provoke the method, which regularly takes 3-4 weeks.

And for these contemplating strikes of $20k or extra, our Licensed Concierge crew can assist you measurement up the choice earlier than serving to shepherd your outdated property to Betterment, all for gratis. Right here’s how.

The Betterment Licensed Concierge expertise

Whether or not you’re already bought on a change or need assistance weighing the professionals and cons, our Concierge crew makes use of a three-step course of to assist information your considering.

Step 1: Assess the place you’re, and the place you need to be

We begin each Concierge dialog by gathering as a lot data as potential.

• What are your monetary targets?
• How properly do your outdated accounts align with these targets?
• How a lot danger are you uncovered to?
• How a lot are you presently paying in charges?

We sift by way of statements in your behalf to decode your outdated supplier’s charges. We analyze your outdated portfolios’ asset allocations. And we assist assess whether or not Betterment’s goal-based platform may assist meet your wants.

All of this data provides us and also you the context and confidence wanted to take the following step.

Step 2: You make a name, then we chart a course ahead

Whereas retirement accounts will be rolled over with out making a taxable occasion, that’s not all the time the case with taxable accounts. So in these eventualities, we offer a personalised tax-impact and break-even evaluation. This exhibits you ways a lot in capital positive aspects taxes, if any, a transfer could set off, and the way lengthy it’d take to recoup these prices. We all the time advocate you’re employed with a tax advisor, however our estimate can function a fantastic first step in sizing up any tax implications.

Do you have to select to convey your outdated investments to Betterment, we enable you with each step of that journey.

The mechanics of transferring accounts

This consists of sussing out which of your outdated property will be moved “in-kind” to Betterment. We’re capable of simply settle for these property, and both slot them into your shiney new Betterment portfolio as-is, or promote them in your behalf and reinvest the proceeds.

If any outdated property should be liquidated earlier than they’re transferred, we’ll enable you work along with your outdated supplier to make it occur. This consists of offering you with a full checklist of related property to offer your outdated supplier.

Whether or not transferring property or money, we use the ACATS technique at any time when potential to assist your funds transfer and settle faster.

Step 3: Transferring day!

Making a transfer is thrilling. Unpacking? Not a lot. So we assist arrange and optimize your Betterment account to take advantage of options like Tax Coordination. Need assistance organising your targets? We have now you coated there, too.

As soon as all the pieces is so as, we’ll start implementing your switch plan. We’ll talk all of the steps concerned, the anticipated timeline, and deal with as a lot of the heavy lifting as potential. We usually check-in and, as soon as your property or funds arrive on our finish, we’ll ship you a affirmation ensuring all of your transfer-related questions are answered to the very best of our skills.

Prepared, set, change

Transferring accounts to a brand new supplier is usually a problem, so we try to shoulder as a lot of the burden as potential. It begins with a easy step-by-step course of within the Betterment app, and for these exploring strikes of $20k or extra, extends to our devoted crew of Concierge members. They’re standing prepared to assist in giving your outdated property a brand new life at Betterment. As a result of whether or not transferring to a brand new home or a brand new advisor, it by no means hurts to have a little bit assist.