Yes, you are able to transfer bonds to an external account.

Please refer to the customer information brochure for a full list of fees (please note that Pershing, our clearing broker, will assess a $65 charge if the account is fully moved via an ACAT (Automated Customer Account Transfer) to an outside custodian; if a single bond is moved there is no charged assessed).

To move forward we will need to get a few more pieces of information.

  1. Please confirm with your broker/ advisor that your brokerage account is set up to receive securities from DTC (Depository Trust Company), the mechanism in which municipal securities clear. It is helpful to get a copy of your brokerage firm's Delivery Instructions. This information is important because if your firm fails to accept the security you could get charged additional fees.
  2. Send us an message confirming your brokerage firm account is set up to accept Delivery from DTC. In your message, it would be helpful to include a copy of the Delivery Instructions and a page from your most recent brokerage account statement that has both your name and account number.
  3. Once we receive the information in #2 we will need a digital signed version of a Letter of Authorization (LOA) indicating the below: 

            -Preference for date asset(s) to be moved
            -From account (including account name and number at Pershing)
            -To account (including account name and number, and DTC #)
            -Assets to be moved including CUSIP (e.g. security/cash/etc.)
            -Client signature
                                                                                                                                              Upon receipt of the LOA we will add the instructions to your account and every subsequent purchase can be delivered to the account on file if you so please.

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