What is a Transfer?
A transfer is the moving of investor holdings from one account to another account in the investor portal. Transfers are done for a variety of reasons, such as death, divorce, change in account type or moving funds from one IRA Custodian to another.
When can a transfer be processed?
Timing is key. A transfer should not be processed until the prior period is closed. This is to ensure the number of units shown on the new Subscription Agreement and/or transfer agreement is accurate on the effective date of the transfer.
What documentation is required?
You'll need to have your investor create the new account before starting this process. You can also reach out to our Support team for assistance with creating the new account.
Complete a transfer agreement between the existing account and new account.
⭐Custodied Accounts: before initiating a transfer, contact the Custodian of the investment to confirm their process and requirements for transfers. The process may differ depending on Custodian and/or account type.
To initiate a transfer, send the executed transfer agreement and account number for the new account to your Fund Administration team for processing.
Include the account number which always starts with an “M” (Example: M6642-xxxx)
You can locate an account number by visiting the Accounts tab, select an account name & then you’ll see the investors details. From there, click the copy button next to the account number.
Need help? Contact Support@Verivest.com