Guides › Switching Financial Advisors
Updated September 18, 2026. Quick answer: you open an account at the receiving firm and sign the transfer form there; the new firm pulls the accounts through ACATS. SoFi Wealth LLC’s Form ADV states the advisory agreement “may be terminated by either party at any time, with or without cause”, and since SoFi does not bill in advance there is nothing to refund, only “earned, unpaid fees” that remain due. The transfer itself is priced on SoFi’s own published fee schedule, named directly in the ADV: $100.00 for an “Outgoing ACAT,” and a separate $100.00 IRA closing fee if you are closing a retirement account rather than transferring a taxable one, which SoFi’s own schedule says may be assessed when the account balance drops below $100.
The published numbers
From SoFi Wealth LLC’s Form ADV Part 2A (March 27, 2026), under Termination Of Advisory Agreement: “The Advisory Agreement with SoFi Wealth may be terminated by either party at any time, with or without cause, in accordance with the terms of the agreement. Upon termination of any agreement, any earned, unpaid fees will be due and payable in accordance with the applicable agreement.” The same brochure names its own published fee schedule for account-level charges: “brokerage account fees for services provided by Apex Clearing such as … transferring funds or securities to another firm via ACAT … can be found at the following website: www.sofi.com/invest/fee-schedule.” That schedule, SoFi’s own “Standard Pricing Fee Schedule,” states under Transfers & Money Movement Fees: “Outgoing ACATs (If you’re thinking about an ACAT out, please contact us.): $100”, and separately “IRA closing fee (May be assessed when the account’s balance drops below $100): $100.”
| What | Figure |
|---|---|
| SoFi Wealth’s own advisory-agreement termination charge | $0.00 extra: no advance billing, so nothing prepaid to refund (Form ADV) |
| Outgoing ACAT (taxable account transferred out) | $100.00 per transfer (SoFi’s own Standard Pricing Fee Schedule) |
| IRA closing fee | $100.00 per account, which the same schedule says may be assessed when the account’s balance drops below $100 |
| ACATS validation + completion window | 1 business day to validate, 3 business days to complete (FINRA Rule 11870) |
Find the right next step for your situation
About how much do you have invested? Pick the range that fits; your next step appears immediately below.
Since you have $250,000 or more, a network of vetted advisers may fit.
If your portfolio is $250,000 or more, this connects you (free, with no obligation to hire anyone) with 2 to 3 vetted advisors.
Before you start, what actually happens. The matching service is run by WiserAdvisor, an independent advisor-matching company. It opens on their site, asks for your ZIP code and a few questions, and matches you with 2 to 3 vetted advisors. It is free to you.
WiserAdvisor states the service is built for portfolios of $250,000 and above. By submitting, you consent to emails, phone calls and text messages from WiserAdvisor and up to three advisors, so expect to be contacted. Clear Money Guide is paid when you complete the form, whether or not you ever hire anyone.
Opens on WiserAdvisor’s site in a new tab.
A $100 exit fee decides nothing. What you move to decides everything.
Price the destination before you plan the exit. The matching service below introduces you to advisers who pay to meet you.
Before you start, what actually happens. The form is run by Kapitalwise, our advisor-matching partner. Kapitalwise sends your details to advisers who pay for the introduction, so expect calls and texts. Clear Money Guide is paid when you submit the form, whether or not you ever hire anyone. This is free to you and there is no obligation to hire anyone.
The Kapitalwise form opens here; you stay on this page.
What happens when you press the button
It asks about nine questions: age, investable assets, location; then your name, email and phone number, and verifies the phone by text. Nothing loads and nothing reaches Kapitalwise until you press the button.
Prefer flat-fee or hourly pricing instead? Compare ranges here.
Answer againThe sequence
1. Pull a current statement for every account, showing the exact registration, account numbers and complete holdings list. 2. Check the holdings for anything that will not move. Ask the receiving firm directly: “Can you hold every position on this statement?” Anything they cannot hold has to be sold, and in a taxable account that is a realised gain in the year you switch: the categories that commonly do not transfer. 3. Open the receiving account and sign the transfer form there. Under FINRA Rule 11870 the delivering firm then has one business day to validate and three business days after validation to complete. 4. Send a dated termination letter for the record: the generator writes it, and confirm in writing that billing has stopped.
Two things to get right
Cost basis. Under IRC §6045A the delivering broker must furnish a transfer statement carrying basis for covered securities within 15 days of the transfer. Keep your final statements anyway, and check the first statement at the new firm for positions showing a missing or zero basis. Retirement accounts move as a direct transfer, trustee to trustee, not as a distribution to you. Why that distinction matters. Whether a transfer fee is worth paying at all is a question of what you are moving to: our benchmark of published adviser fee schedules puts the weighted median annual cost near $2,000 to $2,500 on $250,000: the benchmark. The general mechanics: switching financial advisors.
Want to know what SoFi Invest charges before you decide whether to leave? See the dollar breakdown from SoFi Invest’s own fee disclosure.
Sources
- SoFi Wealth LLC, “Form ADV Part 2A” (March 27, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1028153
- SEC Investment Adviser Public Disclosure, SoFi Wealth LLC firm summary (CRD 167958): https://adviserinfo.sec.gov/firm/summary/167958
- SoFi, “Standard Pricing Fee Schedule”: https://www.sofi.com/wealth/assets/documents/sofi-invest-fee-schedule.pdf
Methodology. This page was built September 18, 2026, drawing on SoFi Invest’s own Form ADV/fee schedule plus any named affiliate’s own published fee schedule, with sources linked inline; any figure we could not independently confirm this session on a firm-owned or affiliate-owned document is named as an honest gap above rather than presented as verified. Nothing here is personalized financial, tax, legal, or investment advice. See our Editorial Policy, Corrections, Affiliate Disclosure, and Disclaimer.
Three more exits, each with a published transfer figure: Rockefeller Capital Management, TD Wealth, and Transamerica Financial Advisors.
What does leaving cost elsewhere? Compare the published exit fee at 115 advisory firms and brokerages, each taken from that firm’s own schedule or its custodian’s.
Leaving a different firm? See the exit guides for all 189 firms, with the four steps every exit shares.