How is my account transferred from another Brokerage firm to Crystal Brook Advisors?
Electronic Transfers
Most account transfers between brokerage firms are made using the Automated Customer Account Transfer Service (“Aquestions_category”) system. The National Securities Clearing Corporation operates Aquestions_category, and both the New York Stock Exchange and the National Association of Securities Dealers, Inc. require their member firms to use Aquestions_category.
TradePMR Transfer Department initiates Aquestions_category transfers for both new accounts and existing. If all information is in good order and accurate, the transfer should take no more than 6 (six) business days to complete from the time our department enters your account transfer request into Aquestions_category.
During this time, the contra firm compares the information provided on the transfer form with its information. If the information matches, First Clearing LLC,TradePMR and the delivering firm review the transferable assets, Aquestions_category will be initiated. If there are any rejections or positions that cannot be transferred, a member of our Transfer Department will contact your Certified CERTIFIED FINANCIAL PLANNER™ who will then notify you of the rejection and discuss how to remedy or correct any misinformation which may have been a result of the Aquestions_category rejection.
Manual Transfers
Sometimes, a transfer is made manually. This occurs when your assets are with a bank, mutual fund, credit union, insurance company, or limited partnership that does not participate in Aquestions_category. This may also occur if you request a liquidation of assets other than the standard money market fund in your account. There are no set time frames for completing a manual transfer with the respective financial institutions.
