Residual Sweep Fidelity to RH
Here’s a summary of the main problem and solutions discussed in the post:
- Main Problem: The user reported that fractional shares were not transferred from their Fidelity account to Robinhood during the ACATS process.
- Solution: Fidelity indicated that after the initial transfer, they would liquidate the fractional shares within 3-5 business days.
- Solution: Funds will be swept weekly to Robinhood after the liquidation of fractional shares.
- Solution: Any additional dividends, interest, or cash that enters the account will continue to be swept to Robinhood over the following months.
Here’s the full thread
ACATS didn’t take the fractional share(s) from my Fidelity account. How long does it normally take to send the remaining balance to Robinhood?
Roth IRA Brokerage transfer from Fidelity to Robinhood.
Hey! After the initial transfer, we’ll take steps to liquidate the fractions shares within 3-5 business days and then funds are initially swept on a weekly basis to the other firm. If any dividends, interest, or other cash enters they account after we’ll continue to sweep funds over the next months. 🟢