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Optimal Finance Daily - Financial Independence and Money Advice

2317: How to Transfer Your Brokerage Account by Jeff Rose

Optimal Finance Daily - Financial Independence and Money Advice

Optimal Living Daily LLC

Investing, Business, Education, Self-improvement

4.41.3K Ratings

🗓️ 23 May 2023

⏱️ 8 minutes

🧾️ Download transcript

Summary

Jeff Rose tells you how to transfer your brokerage account Episode 2317: How to Transfer Your Brokerage Account by Jeff Rose Jeff Rose, CFP® is a Certified Financial Planner™, founder of Good Financial Cents, and author of the personal finance book Soldier of Finance. Jeff is an Iraqi combat veteran and served 9 years in the Army National Guard. His work is regularly featured in Forbes, Business Insider, Inc.com and Entrepreneur. The original post is located here: https://www.goodfinancialcents.com/brokerage-account-transfer-fees/ Visit Me Online at OLDPodcast.com Interested in advertising on the show? https://www.advertisecast.com/OptimalFinanceDaily Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

This is Optimal Finance Daily, Episode 2317.

0:04.5

How to Transfer your Brokage Account by Jeff Rose of GoodFinancialSense.com

0:09.8

And I'm your host and personal finance enthusiast, Diana Mariam.

0:13.9

Now let's get right to today's post and start optimizing your life.

0:22.0

How to Transfer your Brokage Account by Jeff Rose of GoodFinancialSense.com

0:28.4

Anybody that's tried to change their satellite or cable service knows how much of a pain

0:32.9

in the butt it can be.

0:34.8

You'll spend at minimum an hour on the phone and most likely by the end of it, you'll

0:38.5

be so disgusted that even a hot shower won't make you feel any better.

0:43.5

One of the biggest fears that investors have when starting with a new Brokage firm is

0:47.7

what happens if you want to quit or break up with your financial advisor.

0:52.1

Are you going to be stuck in the same situation as trying to transfer your satellite service?

0:57.0

Are you going to be hit with a massive amount of surrender fees?

1:00.6

Is this something that you worry about?

1:03.3

Let's take a look at how it works if you want to transfer your Brokage account.

1:07.6

If you're in the process of hiring a new financial advisor or opening an online Brokage

1:11.9

account, the first thing you want to do is ask, what happens if I ever want to leave?

1:17.8

What type of cost or transfer outcharges would I incur?

1:21.8

If it's really a concern of yours, I wouldn't accept the explanation verbally.

1:26.4

Let it in writing.

1:28.0

Make sure you can see exactly how much you would pay if you had to pay anything at all.

1:32.9

Many people don't realize how easy it is to actually transfer your Brokage account elsewhere.

...

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