How long did Vanguard transfer take?

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Orange_Philosophy
Posts: 61
Joined: Tue Mar 16, 2021 8:37 pm

How long did Vanguard transfer take?

Post by Orange_Philosophy »

I've transferred two accounts that together, in total, just break the 7 figure mark into my Vanguard account from EJ. The partial stock/mutual fund positions got orphaned and left behind about $5K. EJ automatically sold all the partials... According to Vanguard, there will be multiple sweeps to pick up the orphaned shares along with any dividends that might end up landing. Also, my cost basis didn't come over on the first pass, either. The Vanguard rep said that could take up to 15 days.

My question is how long should it take before I get my actual cost basis updated and the orphaned monies? I really want to start consolidating but I can't sell anything until I have a cost basis unless I want to do a little work after the fact to make sure the IRS has correct information next year.
simpletone
Posts: 40
Joined: Sat Oct 17, 2020 9:47 am

Re: How long did Vanguard transfer take?

Post by simpletone »

The entire process took a few weeks (over a month) for me. This will depend on the number and type of assets you have. I checked in once a week, to see how things were going. I recommend doing the same. Once the assets show up at Vanguard, it takes a couple of days for the cost basis to appear. I did not have fractional shares or dividends included in the transfer process. I opted to deal with those myself at the originating broker.
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