Knowledge Center
Scottrade Online Community

Mutual Fund Trading

Mutual Fund Transfers

Mutual Fund positions transferred into your Scottrade account must be in good form before they can be sold. Transfers require settlement at the fund. Ten business days is the minimum holding period for mutual fund transfers once they have arrived at Scottrade. Settlement periods may vary by fund and are subject to change without notice. The settlement process may have an impact if you are planning to reinvest the proceeds in another security.

If you currently own mutual fund shares purchased through another financial institution or purchased directly from the mutual fund company, you can consolidate your shares into your Scottrade account, provided that the fund is currently available through Scottrade. Mutual funds not offered through Scottrade must be converted to cash at your current financial institution before transfer.

If you wish to retain those mutual fund positions, you may want to consider a partial transfer, leaving those funds at your current financial institution and transferring the remaining securities to Scottrade. Scottrade's list of mutual funds will continue to grow. It may be possible to transfer additional mutual funds at a later date. To transfer funds, please complete the mutual fund account transfer (ACAT) form.

If you currently own mutual funds shares in a Scottrade account and want to move the shares into another account at Scottrade, please complete the Letter of Authorization to Transfer Funds and/or Stock Form that can be found in the Forms Center. If positions are being moved from a joint account into a single account, both account owners must sign the form. Tax laws vary from state to state and you may want to consult a tax advisor before transferring your position from one account to another. Please return this form to your local branch office.

Mutual fund positions must be transferred at the fund company as well as internally. Because these movements are considered transfers at the fund company, it may take five to seven business days before the position(s) can be sold in the new account. Please check with your local branch office to verify if a position can be sold.

Investors should consider the investment objectives, risks, charges, and expenses of mutual fund carefully before investing. A prospectus contains this and other information about the fund and is available through www.scottrade.com or through a Scottrade branch office. The prospectus should be read carefully before investing.


Featured
Online Community

Education meets interaction in the Scottrade Community. Join Scottrade customers from all over the country as you exchange information, ideas and trading strategies in a comfortable online learning environment.

Interact with Scottrade customers and product specialists. Share your thoughts and learn from others. Grow as an investor. Join our community today!

Learn More About the Community >
The information and content provided in the Scottrade® Knowledge Center is for informational and/or educational purposes only. The information presented or discussed is not, and should not be considered, a recommendation or an offer of, or solicitation of an offer by, Scottrade or its affiliates to buy, sell or hold any security or other financial product or an endorsement or affirmation of any specific investment strategy. You are fully responsible for your investment decisions. Your choice to engage in a particular investment or investment strategy should be based solely on your own research and evaluation of the risks involved, your financial circumstances and your investment objectives. Scottrade, Inc. and its affiliates are not offering or providing, and will not offer or provide, any advice, opinion or recommendation of the suitability, value or profitability of any particular investment or investment strategy.