Yes. In many cases, we can arrange to transfer your existing investments without selling them. This is known as an in-specie transfer: eligible holdings move from one broker or investment provider to another while remaining invested.
This can make it easier to move your portfolio to Wealth and Legacy Group for advice or discretionary management, while avoiding unnecessary sales, repurchases and time out of the market. The availability of an in-specie transfer depends on the investments and the arrangements of the transferring and receiving providers.
How does the transfer process work?
- Review your portfolio. We assess your existing holdings, investment objectives and the proposed account or management arrangement.
- Confirm transfer eligibility. We establish which holdings can be transferred directly and identify any restrictions or charges.
- Arrange and verify the transfer. Once the necessary instructions and documentation are completed, we coordinate with the relevant providers and confirm receipt of the investments.
What if some investments cannot be transferred directly?
Some holdings may not be supported by the receiving provider or may be subject to product-specific restrictions. Where a direct transfer is unavailable, we can review alternatives with you, including retaining the holding or, if appropriate, selling and reinvesting it. We would consider transaction costs, time out of the market and potential tax consequences before recommending a course of action.
The tax consequences depend on the nature of the transfer, account structure and applicable tax rules. An in-specie transfer is not automatically tax-free, so the treatment should be confirmed for the particular transaction.
Can Wealth and Legacy Group assist with the arrangements?
We can assist by reviewing your existing portfolio and coordinating an appropriate transfer with the relevant providers, with the aim of making the transition as straightforward as possible while retaining suitable investments where practical.
Tax-free savings accounts and retirement products are subject to specific transfer procedures. In particular, a TFSA should be moved directly between providers rather than withdrawn into your bank account and reinvested.
Learn more about our investment services.
See also: Can I transfer my tax-free savings account to another provider?
Disclaimer: The information provided here is intended as general guidance only and does not constitute legal, tax, or financial advice. Every situation is unique, and legislation is subject to change. We invite you to reach out to our team at Wealth and Legacy Group for guidance tailored to your specific circumstances.