Public.com and Fidelity are both great brokerages, but they have different strengths. Public is a mobile-based investing app catering to beginning investors. It has limited features, investment vehicles, and account types. Meanwhile, Fidelity offers more features and tools, making it a better option for new and experienced traders.
Once you’re ready to make the switch from Public to Fidelity, check out the guide below to get started.
How to Transfer from Public to Fidelity
- Go to Fidelity.com and create an account.
- Visit the Transfer of Assets page.
- Under Select your current firm, enter
public.comand press enter. - On the next page, you will need to provide additional details about your Public account. Use your brokerage statement to fill out the requested information.
- You will also need to provide your Public brokerage account number.
- Print out the document provided by Fidelity’s TOA tool.
- Sign and date the document.
- Mail in the PDF form along with a copy of your Public account statement to the following address:
Fidelity Investments
Attention: TOA
PO Box 770001
Cincinnati, OH 45277-0035
Normally, transferring assets to Fidelity from another brokerage firm does not involve mailing documents. Everything can be done online. However, since Public is not part of the supported brokerage by Fidelity’s TOA tool, you must send in the document.
How long does it take to transfer from Public to Fidelity?
Once Fidelity receives your documents, it would take them about 2 to 4 weeks to process and finish the asset transfer.
You can partially speed up this process by sending your documents via overnight mail. If you choose to do so, use the following mailing address.
Fidelity Investments
Attention: TOA
100 Crosby Parkway
Mailzone: KC1A
Covington, KY 41015
Are there any fees to transfer out of Public?
Fidelity does not charge any fees if you are transferring to them. However, Public may charge you a fee for leaving their platform.
In most cases, Fidelity will cover this fee for you. Just give them a call and request a reimbursement.
Can I transfer my Crypto to Fidelity?
If you bought cryptocurrency in your Public account, you would have to keep them in there. Fidelity does not support crypto trading at the moment. Therefore, they will not transfer your crypto over.
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