How can I start the process to transfer my stocks into Lightyear?
- Ensure your current broker can process transfers out of their platform.
- Go to your profile view and open the Settings screen (on mobile by tapping the cog icon). Scroll down and hit “Transfer stocks to us”.
- You'll be prompted to select the stock you wish to transfer to us. If you don't find your stock in the list, this means we don’t have it in our selection and can’t accept this transfer. See our stock screener and fund screener for our entire selection.
- We accept whole shares and the value of each position must be at least $/£/€ 1000. You can only transfer exercised, regular stocks – Lightyear does not accept non-qualified stock options (NSO).
- You'll then need to enter a few small details so that we can send the correct stock transfer guide to you. All you need to do then is follow our guide to initiate a stock transfer from your current broker and then we’ll take over for the rest! If you can’t find your broker in the list, see the next section in this article.
Where can I transfer my stock over from?
- We can accept a transfer from almost any broker that facilitates transfers out of their platform but in the app you'll find a list and guides specific to brokers from which transfers are commonly initiated.
- If your broker does not appear in the list in the app or the list below this paragraph, we may still be able to help you transfer your holdings to Lightyear – if your broker offers stock transfers out, fill in this form to arrange a transfer and forward it to the transfers team as indicated in the form. In this case, completing this step is all you need to do from Lightyear side of the transfer request. Should there be any issues why we can't accept this transfer, we'll let you know.
- It’s crucial that you initiate a stock transfer on your current broker’s platform. We can only start processing it once we receive their confirmation.
To help you, we have created detailed step-by-step guides for the following brokers, which we’ll provide you after you’ve started the transfer in our app. We do our best to keep these instructions up-to-date but note that the flow can change depending on your broker's platform and processes. It’s always best to consult directly with your sending broker as they are the experts of the request you're submitting on their platform:
How much does the transfer cost?
We don’t charge you for the transfer but your current broker might, so please be aware of any costs during the process. Your current broker might ask you to pay or sell some of the stock to cover for the transfer fee.
How long does it take?
There are only a few steps required from you to initiate a stock transfer. At present, this is a manual process. The time it takes for transfers to appear in your Lightyear account may vary, and it often depends on the practices of your existing broker. If your existing broker uses older systems, the process may take longer or involve additional complexities.
Please note that as the transfer timeline is largely controlled by the originating broker and requires their action, we can’t unfortunately speed up the process. We'll aim to keep you updated throughout via app notifications.
Can I transfer my stocks out of Lightyear?
At this time, we don't support direct stock transfers out of Lightyear accounts. We're working on adding this feature. Until then, you can liquidate your positions and transfer the funds back to your bank account.
Can I move stocks from my personal account to my business account?
Yes! You can request to move stocks from your personal Lightyear account over to your Lightyear business account. To request that, reach out to us below and we'll give you further instructions.