Does OpenInvest do ACATs?
Yes, OpenInvest can help you transfer existing investments into or out of OpenInvest using a process called an ACAT (which stands for account transfer). First, make sure you choose an account of the same type as your existing account (such as individual, traditional IRA or Roth IRA). Then, when you’re going through the application process, have a statement from your existing investment account ready, as you’ll need to refer to some information about it. Select the “Account Transfer” option and fill in the information, and then upload a copy of your statement.
We’ll generate an ACAT and send it to you for signing via our online document signing platform, DocuSign.
ACATs generally take 7-10 days to process once they’ve been submitted.
You can look up your investment account’s clearing number here.
If you are transferring your account from Swell, your clearing number is 0728.