Transferring an account to ModernAdvisor allows you to move investments from another financial institution into a ModernAdvisor-managed account. Most transfers are completed within 2–4 weeks and can be completed as either an in-kind transfer (investments transferred as-is) or an in-cash transfer (investments sold before transfer).
How to Transfer an Account to ModernAdvisor
Step 1: Ensure Your ModernAdvisor Account Is Open and Approved
Your receiving account must be:
Opened
Approved
KYC-compliant
Transfers cannot be submitted until the receiving account is ready.
Step 2: Navigate to the Transfers screen.
Advisors go into a client profile first, then click Transfer Account
Clients click the Transfers tab at the top of their dashboard and then Transfer an Existing Account.
Step 3: Enter Transfer Information and Choose Method
Transfer requests require:
Account type
Full account number
Delivering institution
Estimated account value
Transfer method
When selecting a financial institution, ensure the correct division is chosen where applicable (e.g., Direct Investing, Mutual Funds, Branch).
You can choose between:
Transfer In-Kind
Investments transfer to ModernAdvisor without being sold first.
Generally:
Most securities can transfer in-kind
Many GICs can transfer in-kind
Proprietary funds often cannot transfer in-kind
Transfer In-Cash
Your current institution sells the investments and transfers the cash proceeds.
This option may result in:
Trading costs
Deferred Sales Charges (DSCs)
Step 4: Select Full or Partial Transfer
You can choose to:
Transfer all assets in the account, or
Transfer only selected holdings
Step 5: Sign Transfer Documents
Transfer documentation must be authorized before the request can be submitted to the relinquishing institution.
Step 6: Monitor Transfer Status
Transfer progress can be viewed from the Account Transfers section of the platform.
Frequently Asked Questions
How long do transfers take?
Most transfers are completed within approximately 2–4 weeks.
Actual timelines depend on:
The relinquishing institution
Documentation accuracy
Asset eligibility
Transfer type
What is the difference between In-Kind and In-Cash?
In-Kind
Investments transfer without being sold.
Often recommended when unsure about deferred sales charges.
In-Cash
Investments are sold before transfer.
Cash proceeds are transferred to ModernAdvisor.
Can all investments transfer in-kind?
No.
Generally:
✅ Most securities can transfer in-kind.
✅ Many GICs can transfer in-kind.
❌ Proprietary funds and some institution-specific products often cannot transfer in-kind.
What happens to investments after they arrive?
Assets transferred in-kind are generally sold after arriving at ModernAdvisor so that the proceeds can be invested according to your selected ModernAdvisor portfolio.
What if my transfer is delayed?
Transfer delays most commonly occur because of:
Name mismatches
SIN mismatches
Registration mismatches
Missing information
Asset restrictions
Delays at the relinquishing institution
If your transfer has been in progress for more than four weeks, contact your advisor.
What happens if my transfer is rejected?
Most transfer issues are corrected before the transfer is formally rejected.
Common resolutions include:
Correcting account information
Updating transfer instructions
Providing additional documentation
Signing revised transfer forms
Your advisor will be notified if action is required.
Troubleshooting
Transfer Status Remains "Sent for Processing"
This usually means:
The transfer request has been submitted.
The relinquishing institution is still processing the request.
The status may remain unchanged even while corrections or follow-up activities are taking place behind the scenes.
Receiving Account Not Ready
Transfers cannot proceed until:
Account opening is complete
Account approval is complete
KYC requirements have been satisfied
Registration Mismatch
Transfers frequently encounter issues when registrations do not match.
Examples include:
TFSA to RRSP
Individual to Joint
Registered to Non-Registered
Assets Cannot Transfer In-Kind
Some products cannot be transferred in-kind and may need to be liquidated before transfer.
This is most common with proprietary investment products.
Concepts & Definitions
Transfer-In
Moving an investment account from another financial institution to ModernAdvisor.
In-Kind Transfer
Transfer of investments without selling them first.
In-Cash Transfer
Transfer of cash after investments are sold.
Full Transfer
Transfer of all assets from an account.
Partial Transfer
Transfer of only selected assets.
DSC (Deferred Sales Charge)
A fee that may apply when certain mutual funds are sold before a specified date.
KYC (Know Your Client)
Regulatory requirements that must be completed before an account can be approved and funded.
Compliance Notes
Account registrations should generally match between institutions.
KYC requirements must be completed before a transfer request can be submitted.
Asset eligibility is subject to custodian and institution requirements.
Pension accounts may have additional legislative and documentation requirements.
Transfer timelines are largely dependent on the relinquishing institution and cannot be guaranteed.