2 acats, initiated by 2 firms, sounds like 2 charges to the client. I assume it’s a good sized account and you could offer to eat both charges to help him out. 

edj termination fee for IRA is $50, not sure about non qual

There is no internal termination fee for the non-q transfer. $50 for IRA’s.

Wrong, B24.  EDJ jacks them $50 for brokerage and trust accounts, too.  If the client has not yet paid their annual IRA fee for the calendar year ($40), they get hit with that too on the way out the door.  December is a great month to transfer IRA accounts from Jones–only cost the client $50.

Soothsayer reread B24’s post.  He did not address acat fees just the termination fee re the prior post.  He is right.  You are wrong.  Just keeping it accurate.

Sooth, do most firms not charge IRA fees for the year, even if they close their IRA during the year, since they still have to produce and report 1099’s? Just curious. I could care less what anyone’s fees are, since at the end of the day, all firms fees work out about the same. They all just have different ways of charging them.

Sooth, do most firms not charge IRA fees for the year, even if they close their IRA during the year, since they still have to produce and report 1099’s? Just curious. I could care less what anyone’s fees are, since at the end of the day, all firms fees work out about the same. They all just have different ways of charging them.

Indy - the simple answer to your question is $50 for all ACATs, plus whatever annual fees are due if it is an IRA. 

Thanks, Spiff…that’s in line with what I remembered…$75 was actually for my old firm…PrimeVest.

Indy,

Yeah, I do that for the smaller single fund family accounts, but we’re talking a large account with general securities in it.  I told him what to expect with ACAT fees and he gave me the go-ahead.