Initiating a full transfer:
SoFi Invest is capable of receiving assets directly from another brokerage account if that brokerage firm is ACAT eligible. SoFi does accept ACAT requests of fractional shares if it comes from another firm that clears through APEX. Typically, your transferring brokerage firm will automatically liquidate the fractions, then send the proceeds with the ACAT request. (Note: There should be no additional action needed from you to submit your ACAT request with us, however, some firms may have that requirement.) If unsure of eligibility or liquidation practices, please contact your current brokerage firm.
You can click on the “Transfer account” button. This is on both the Invest homepage as well as on your Invest account itself.
You will be able to use Plaid to search for the name of the firm your assets are currently held. Plaid will request you to login with your username and password for that firm. You will then follow the steps to complete the transfer request.
The ACAT transfer request may take 1 - 2 weeks to finalize.
Non-eligible requirements:
- We do not accept mutual funds, options, margin balances or crypto. These investments would need to be liquidated prior to initiating an ACAT with SoFi. Please contact your brokerage firm to complete this action, prior to submitting an ACAT.
- We do not accept stocks that trade on OTC, Pink Sheets, and/or most low-priced securities. Check our Invest platform for any associated stocks you may be interested in transferring - if they appear in SoFi Invest, they are eligible to be transferred to us!
Finally, we do not charge any fees to transfer an investment account INTO SoFi Invest! However, for Active Invest and Automated Invest brokerage accounts, there is a $75 outgoing ACAT fee should you decide to transfer your account to another broker. It is also possible that other firms may charge an ACAT fee. If you transfer over a brokerage account using the SoFi ACAT system, SoFi will cover up to $75 of any ACAT Outgoing Fees you may incur from your current brokerage firm as long as the transfer is for $5,000 or more. Once the transfer is successfully completed, you can request reimbursement by calling us at 855-525-7634 or chat with us online.
Initiating a partial transfer or transfers from a non-ACAT eligible firm:
Please contact a licensed Investment Specialist by phone at 855-525-7634.
Check Status:
To check the status of your retirement account rollover or ACAT, please contact a licensed Investment Specialist by phone at 855-525-7634.