How to Leave IEQ Capital: the $50 Schwab Transfer Fee

Guides › Switching Financial Advisors

Updated September 28, 2026. Quick answer: you open an account at the receiving firm and sign the transfer form there; the new firm pulls the account through ACATS. IEQ Capital, LLC’s Form ADV Part 2A states “Typically, a Client’s IMA can be terminated at any time, by either party, for any reason upon a specified written notice period.” IEQ Capital, LLC names three possible custodians in its brochure, with no single default: Fidelity Brokerage Services LLC, Goldman Sachs Custody Solutions, and Charles Schwab & Co.. If you are custodied at Schwab, budget $50.00 per account, per Charles Schwab & Co.’s own current fee schedule. Fidelity Brokerage Services LLC’s own published fee schedule has no comparable line item for a full transfer-out, an honest gap rather than a confirmed $0. No primary-source public fee schedule was located for Goldman Sachs Custody Solutions, an honest gap rather than a confirmed figure.

The published numbers

From IEQ Capital, LLC’s own Form ADV Part 2A: Firm Brochure (March 31, 2026), Item 5, Fees and Compensation, “Termination” (page 13): “Typically, a Client’s IMA can be terminated at any time, by either party, for any reason upon a specified written notice period. If a Client has paid any management fees in advance for the period in which their IMA is terminated, IEQ will pro-rate the management fees for the period and return any unearned portion to the client by check or wire transfer.” The same brochure names its custodians (Item 12, Brokerage Practices (page 39)): “While IEQ does not require that a client direct IEQ to execute transactions through any specified broker-dealer, IEQ does mainly refer clients to Fidelity Brokerage Services LLC (“FBS”, and, collectively with its affiliates, “Fidelity”), Goldman Sachs Custody Solutions (“GS”), or to Charles Schwab & Co. (“Schwab”) to provide custodial services with respect to accounts managed by IEQ although other custodians are used depending on the circumstances.” From Charles Schwab & Co.’s own Pricing Guide for Clients of Independent Investment Advisors: “Full transfer (out) of assets: $50 per account.” Fidelity Brokerage Services LLC’s own Brokerage Commission and Fee Schedule contains no comparable line item for a full account transfer out; left as an honest gap rather than assumed to be $0. No primary-source public fee schedule was located for Goldman Sachs Custody Solutions; left as an honest gap rather than assumed to be $0.

The 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 IEQ Capital charges before you decide whether to leave? See the dollar breakdown from IEQ Capital’s own fee disclosure.

Sources

• IEQ Capital, LLC, “Form ADV Part 2A: Firm Brochure” (March 31, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1032257
• SEC Investment Adviser Public Disclosure, IEQ Capital, LLC firm summary (CRD 301819): https://adviserinfo.sec.gov/firm/summary/301819
• Charles Schwab, “Pricing Guide for Clients of Independent Investment Advisors” (July 2026): https://disclosures.schwab.com/SchwabDashboard/61256/REG23060SI.pdf
• Fidelity, “Brokerage Commission and Fee Schedule”: https://www.fidelity.com/bin-public/060_www_fidelity_com/documents/Brokerage_Commissions_Fee_Schedule.pdf

Methodology. This page was built September 28, 2026, drawing on IEQ Capital’s own Form ADV/wrap-fee brochure/fee schedule plus each named custodian’s own published fee schedule, with sources linked inline; any figure we could not independently confirm this session on a firm-owned or custodian-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.

Before you decide to leave IEQ Capital, check whether it owes you a fiduciary duty in the first place.

What does it take to open an account? See IEQ Capital’s minimum investment, straight from its own Form ADV Part 2A brochure.

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.