First, make sure you have the specific account type (IRA, Roth IRA, etc.) open with Wealthsimple. Then you can transfer an existing account from another institution by following these steps:
- Login to your Wealthsimple account and click the 'Add funds' button
- Click 'Transfer an account'
- Fill in the details of your transfer
- Fill out necessary banking information of the relinquishing institution (the institution that currently holds your account). This will pre-populate a transfer form for you.
- After filling out this form, e-sign it and press 'submit'
- We will take it from here! We will get into contact with your financial institution to initiate the transfer and all that's required from you is to sit back and wait!
When you transfer an account, you'll be asked whether you want to transfer your investments “in cash” or “in kind.” There can be fees associated with how you transfer your investments, so it's really important to understand what the options are. You can read more about that here, and if you're still not sure, get in touch at firstname.lastname@example.org.