How to transfer from Wealthcare to Fidelity

Transferring your account from Wealthcare to Fidelity involves opening a Fidelity account first, then requesting an ACAT transfer (Automated Customer Account Transfer) from Fidelity, which handles most of the work on your behalf. Fidelity will contact Wealthcare directly to move your holdings, cash, and account history. The process typically takes 5 to 10 business days, though it can extend to three weeks if your Wealthcare account holds complex or illiquid investments.

You do not need to close your Wealthcare account yourself — Fidelity's transfer process will do that automatically once all assets have moved. However, you should review what you own at Wealthcare before starting, because some investments may not transfer smoothly and may need to be sold first.

Key Takeaways

  • Open a Fidelity brokerage or retirement account before requesting the transfer, because Fidelity needs an active account to receive your assets.
  • Request the ACAT transfer through Fidelity's website or by phone; Fidelity then contacts Wealthcare and handles the rest without you needing to contact Wealthcare directly.
  • Transfers usually take 5 to 10 business days, but can take longer if you hold mutual funds, bonds, or other securities that require liquidation or special handling.
  • Cash in your Wealthcare account will transfer as cash into your new Fidelity account; you can invest it once it arrives.
  • Your Wealthcare account closes automatically once the transfer completes; you do not need to request closure separately.

Open your Fidelity account before requesting the transfer

Fidelity cannot receive a transfer into an account that does not yet exist. Before you contact Fidelity about moving your assets, you need to open the account type that matches what you have at Wealthcare — a standard brokerage account if you trade stocks and funds, or a retirement account (IRA, Roth IRA, SEP-IRA, or 401(k)) if that is what Wealthcare holds.

You can open a Fidelity account online in about 10 minutes. You will need your Social Security number, a government ID, and your current address. Once the account is open and verified (usually within one business day), you are ready to request the transfer. Do not fund the new Fidelity account with money — the transfer will bring your assets over.

Request the ACAT transfer through Fidelity

Log into your new Fidelity account and look for "Transfer Assets" or "Move Money" in the account menu. Fidelity offers this option under different names depending on the account type, but it is always in the main navigation. You can also call Fidelity at 1-800-343-3548 and ask a representative to start an ACAT transfer.

When you request the transfer, Fidelity will ask for your Wealthcare account number and the approximate value of your account. You do not need to contact Wealthcare yourself — Fidelity sends the ACAT request directly to Wealthcare's transfer department. Wealthcare is required by law to honor the request and cooperate with the transfer.

What happens to your investments during the transfer

Most stocks, ETFs, and mutual funds transfer as-is into your Fidelity account without being sold. Your holdings remain the same, and you keep the same cost basis and purchase history for tax purposes. However, some investments may not transfer because Wealthcare holds them through a custodian or clearing firm that Fidelity does not work with directly.

If an investment cannot transfer, Wealthcare will sell it automatically and send the proceeds as cash. This can trigger a taxable event if the position has gains, so review your holdings before the transfer starts. You can ask Wealthcare in advance which investments might not transfer, or wait to see what Fidelity flags during the ACAT process.

Cash sitting in your Wealthcare account will move to Fidelity as cash. You can leave it there or invest it once it arrives — Fidelity will not automatically place it into funds or stocks.

Timeline and what to expect during the transfer

The ACAT process has a standard timeline. Fidelity sends the request to Wealthcare on the day you submit it (or the next business day if you submit after hours). Wealthcare then has up to three business days to accept or reject the request. Most transfers are accepted within one business day.

Once accepted, the actual movement of assets takes 3 to 7 business days. If your account holds only stocks and ETFs, it usually completes in 5 business days. If you hold mutual funds, bonds, or other securities that require settlement, add 2 to 5 extra days. In rare cases — usually when an investment is illiquid or held in a special structure — the transfer can take up to three weeks.

You will see your assets appear in your Fidelity account in stages. Stocks and ETFs usually show up first. Cash and settled funds follow. Once everything has arrived, your Wealthcare account will close automatically.

If Wealthcare rejects the transfer

Wealthcare can reject an ACAT transfer only for specific legal reasons: the account is frozen due to a legal hold, the account holder is deceased, or there is a dispute over account ownership. If Wealthcare rejects your transfer, they must tell Fidelity the reason within three business days.

If the reason is a legal hold or ownership dispute, you will need to resolve that with Wealthcare before trying again. If you believe the rejection is wrong, contact Fidelity's transfer team and ask them to escalate the issue. Fidelity can file a complaint with the Financial Industry Regulatory Authority (FINRA) if Wealthcare is blocking a valid transfer without cause.

If you cannot resolve the issue through ACAT, you can manually transfer by asking Wealthcare to liquidate your holdings and send you a check, then deposit that money into Fidelity. This is slower and may trigger taxes, but it bypasses the ACAT system entirely.

Frequently Asked Questions

Will I lose my investment history or tax records when I transfer?

No. ACAT transfers preserve your cost basis, purchase dates, and holding periods. Fidelity receives this information from Wealthcare and maintains it in your account. You will have the same tax records you had before, which matters for calculating capital gains when you eventually sell.

Can I transfer a retirement account from Wealthcare to Fidelity?

Yes. IRAs, Roth IRAs, SEP-IRAs, and other retirement accounts transfer the same way as brokerage accounts. Open the matching account type at Fidelity first, then request the ACAT. The transfer does not trigger taxes or early withdrawal penalties because it is a direct trustee-to-trustee move.

What if I have a 401(k) at Wealthcare?

A 401(k) cannot transfer to Fidelity while you are still employed at the company that sponsors it. Once you leave the job, you can roll it over to an IRA at Fidelity. If Wealthcare is your own Solo 401(k) or SEP-IRA, it can transfer via ACAT like any other retirement account.

Do I have to transfer everything, or can I move only some investments?

You can request a partial transfer. Tell Fidelity which specific holdings or accounts you want to move, and they will transfer only those. The rest stays at Wealthcare. However, most people find it simpler to move everything at once and close the Wealthcare account entirely.

Will I owe fees to Wealthcare for closing my account?

Most brokerages do not charge a fee to close an account via ACAT transfer. However, some firms charge an outgoing transfer fee. Contact Wealthcare before you start the transfer to ask whether they charge for ACAT transfers. If they do, the fee is usually $50 to $100 and will be deducted from your account balance before the transfer completes.