r/investing • u/Dutchman_88 • 1d ago
Transferring a managed account to self directed (via ACATS). Do assets get auto liquidated into cash?
We inherited an account that is currently held by Morgan Stanley with a financial advisor. We invest ourselves and want to transfer it out to Fidelity. If i initiate an ACATS account transfer do all these positions automatically get sold off for cash? I would call Morgan Stanley but its weekend now. Or do I have to tell them to liquidate everything first? Looks like there is no way for me to do this myself. There is no buy or sell button on the Morgan Stanley website.
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u/Fun-Sundae4060 1d ago
No the securities get moved without being sold.
During the transfer you cannot touch the securities for several days either.