Transfer assets into a youth brokerage account
Main Problem:
- Sami p is seeking to transfer over $1,000 worth of stocks and ETFs from their mother’s Robinhood account to a new Youth account at Fidelity but is unsure how to do this.
Possible Solutions Discussed:
- Fidelity informs that transfers of assets can be requested by individuals with proper authorization from another firm, though they cannot comment on account registration issues at Robinhood.
- Fidelity suggests that there may be alternatives at Robinhood for sending funds to another brokerage firm, encouraging further questions if needed.
Here’s the full thread
I’ve been using my mothers name to invest on robinhood and I just recently started using a Youth account. I haven’t deposited any money into Fidelity yet and don’t know where I can transfer in my assets from my moms account on Robinhood. Is it possible to do transfers? If not may you please make that happen because I have over $1,000 worth of stocks and ETFs in there. A full transfer would be nice.
Hey @sami p , thanks for reaching out. We can’t speak to how an account might be registered or authorized at another firm, but we did want to make a mention that acting as someone else (i.e. under someone else’s name) in a financial account could be considered fraudulent activity.
Here at Fidelity, an individual with the proper authorization can request a Transfer of Assets from another firm, for most account types. There may be other alternatives available at a sending firm to be able to send funds to another brokerage firm. Please let us know if you have additional questions.