How to transfer accounts out of M1? | M1 Help Center (2024)

To transfer an M1 investment account out of M1, please contact the receiving broker (the institution where the account is going) and ask them to initiate the transfer.

Keep the following in mind regarding outgoing account transfers:

Please wait at least 6 business days from the last deposit into an investment account before initiating an account transfer.
- All new deposits into M1 Invest require a 6-business day holding period before they can be withdrawn or transferred.
- If you recently deposited into your account, your ACAT transfer may be rejected.
Only full shares are guaranteed to transfer. Fractional shares will be liquidated and transferred as cash following the outgoing transfer.
There is a $100 outgoing ACAT fee for all account types and an additional $100 closing fee for retirement accounts.
For example:
- Transferring out your Individual Brokerage Account would incur a fee of $100.
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- Transferring out your Roth IRA would incur a fee of $200 ($100 for the outgoing ACAT + $100 for the IRA closure fee).
- A breakdown of fees can be found at M1 Fee Schedule.
Apex or M1 will send cost basis information to your receiving brokerage within 30 days. If it has been longer than 30 days since your account transfer and the receiving brokerage has not received cost basis information, please contact us.
Residual cash and holdings remaining in a closed M1 account following an outgoing ACAT will be continuously swept up and transferred to your new brokerage for 180 business days. If it has been more than 180 days since your account transfer and the account has remaining cash or holdings, please let us know.
We cannot re-open accounts after an ACAT transfer. However, you can open a new account here.

DTC code and clearing firm for ACATS

M1 supports automated customer account transfers (ACATS) performed by the receiving broker however, the DTC code and clearing firm you reference will depend on your current M1 Account type.

If you're transferring an Individual or Joint Brokerage Account:

DTC code 1497
See Also
M1 Margin Loans vs. M1 Personal Loans
M1 Finance LLC
Address:

M1 Finance c/o Invest Operations

200 N La Salle St Ste. 800

Chicago, IL 60601

If you're transferring any other investment account types:

DTC code 0158
Apex Clearing
Address:

Apex Clearing c/o Banking

350 N St. Paul Street #1300

Dallas, TX 75201

Brokerage accounts on the M1 platform are either fully disclosed to APEX Clearing or cleared through M1 Finance LLC. Please look at your account statement to determine how your account is cleared.

All investing involves risk, including the risk of losing the money you invest. Past performance does not guarantee future performance. Using margin can add to these risks. Users utilizing APEX cleared margin accounts should review the APEX margin account risk disclosure before borrowing. Users utilizing M1 cleared margin accounts should review the M1 margin account risk disclosure before borrowing. M1 Margin Loans are available on margin accounts with at least $2,000 invested per account. Not available for Retirement or Custodial accounts. Margin rates may vary.

Brokerage products and services are offered by M1 Finance LLC, Member FINRA / SIPC, and a wholly owned subsidiary of M1 Holdings, Inc.

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How to liquidate an M1 investment account

Transfer your IRA into an M1 IRA (non ACATS) 

Where can I track the status of my brokerage account transfer?

Open an additional M1 investment account

Open an M1 Custodial Account (UTMA/UGMA)

FAQs

How to transfer accounts out of M1? | M1 Help Center? ›

To transfer an M1 investment account out of M1, please contact the receiving broker (the institution where the account is going) and ask them to initiate the transfer.

Read On ›

How do I get out of M1? ›

You can liquidate an M1 investment account by initiating an outgoing withdrawal for an amount slightly higher than the current value to prevent funds remaining due to market fluctuations. A liquidation confirmation and acknowledgment screen will appear.

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How do I withdraw from M1? ›

How to liquidate an M1 investment account | M1 Help Center. You can liquidate an M1 investment account by initiating a one-time transfer for the current total value of the account to your connected external bank. Once you select "Review", a liquidation confirmation and acknowledgment screen will appear.

How to stop M1 transfer? ›

Edit, pause, or cancel a recurring transfer

To edit a recurring transfer, select “Edit” and input your new amount and schedule.
To pause a recurring transfer, toggle the “Enable schedule” off if on Web or “Pause Schedule” if on Mobile.
To cancel a recurring transfer, select “Edit” and select “Delete”

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How long does it take to transfer funds from one brokerage account to another? ›

How long should I expect my transfer to take? The transfer process typically takes between 5-7 business days from the time your transfer is submitted if your current brokerage uses the ACATS system. If your current firm does not support ACATS, transfers may take 30-60 days to complete.

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How to transfer out of M1? ›

To transfer an M1 investment account out of M1, please contact the receiving broker (the institution where the account is going) and ask them to initiate the transfer.

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How to terminate M1 account? ›

Unless you are bound by a contractual minimum term in the Agreement, you may terminate the Services by calling our Customer Service Hotline 1627 or 1622 (for corporate customers), or such other numbers as we may notify, by faxing or writing to us and giving us one (1) day's prior notice.

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How do I disconnect my bank from M1? ›

Where to manage bank connection

Navigate to the Invest tab and select the M1 investment account you're changing the bank connection for or click here.
Select the “Bank Connection” tab.
Select “Change” and confirm.

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What are the fees for M1 withdrawal? ›

Get the full value of your money, with a M1 Bank Debit Card you automatically get the privilege of making withdrawals from any ATM nationwide with no surcharge fee.

How much does it cost to transfer out of M1 finance? ›

Direct Account Transfers

Direct Account Transfers
Incoming	$0
Outgoing	$100
DRS Transfers (per DRS security transferred)	$115

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What is the maximum transfer amount for M1? ›

Daily ACH Limit

M1 High-Yield Savings Accounts have a daily ACH transfer limit of $120,000.

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How do I stop a transfer? ›

You will need to notify your bank at least three business days before the scheduled date of the transfer and inform it that you wish to stop payment. You can provide the notice orally, but the bank may require you to confirm the request in writing.

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How hard is it to transfer brokerage accounts? ›

After you submit the form, the transfer process is mostly a hands-off affair. The action happens behind the scenes, as your new broker communicates with your old broker to get your investments moved over. It usually takes six business days to transfer a brokerage account.

Get More Info Here ›

How much does it cost to transfer a brokerage account? ›

The fee varies, and a few firms charge no fee at all, but many brokers charge as much as $100 for transferring the securities in your account to a competing firm. This fee typically applies to a complete transfer of the securities in your account.

Can I move my portfolio from one broker to another? ›

Yes. Brokers will directly transfer your investments from one account to another. This is typically easier and more profitable than manually selling stocks and repurchasing them.

How do I force quit on Mac M1? ›

Press these three keys together: Option (or Alt), Command, Esc (Escape). Or choose Force Quit from the Apple menu  in the corner of your screen. The Finder is always open, but if it stops responding, you can force it to quit and then open again: Select Finder in the Force Quit window, then click Relaunch.

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How do I get my Mac out of recovery mode M1? ›

Quit macOS Recovery

On your Mac, do one of the following: Restart your Mac: Choose Apple menu > Restart. Choose a different startup disk before restarting your Mac: Choose Apple menu > Startup Disk, select a startup disk, then click Restart. Shut down your Mac: Choose Apple menu > Shut Down.