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How to Leave D.A. Davidson: the $100 Transfer Fee

Guides › Switching Financial Advisors

Updated September 23, 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. Unlike most firms in this series, D.A. Davidson & Co. is itself a full-service broker-dealer that generally custodies its own client assets, so there is no separate custodian to check. D.A. Davidson’s own Fees and Services schedule states the cost plainly: $100.00 to “Transfer of an account to another financial institution.” A separate, older D.A. Davidson disclosure independently confirms the same $100 figure and calls it the account’s “ACAT fee.”

The published numbers

D.A. Davidson & Co.’s advisory-side Form ADV/wrap-fee brochure names “transfer fees” only as an unquantified pass-through category and describes the account converting to a custody-only brokerage relationship when the advisory agreement ends, without stating a dollar amount. The actual figure lives in D.A. Davidson’s separate, brokerage-side Fees and Services schedule (dated “as of September 2024”): “Transfer of an account to another financial institution… $100.00.” A second, earlier D.A. Davidson document, Regulation Best Interest Disclosures (effective December 22, 2021), independently confirms the same number: “Account Transfer Fees. We will charge you a one-time, per account, ‘account transfer fee’ to reimburse us for the costs associated with transferring your account to another financial institution. The account transfer fee includes fees associated with the Automated Client Account Transfer System, commonly referred to as the ACAT fee. This fee is typically $100 and is paid when you initiate the transfer of your account to another broker-dealer.” Two D.A. Davidson documents from two different years agree on $100. The same September 2024 schedule separately prices a related move, settling an estate: “Estate accounts… transfer of estate assets registered in client name, processing of death puts or survivor options… $50.00 per issue.”

WhatFigure
Transfer of an account to another financial institution$100.00 per account (D.A. Davidson & Co., Fees and Services, as of September 2024)
Corroborating figure$100 “account transfer fee” / ACAT fee (D.A. Davidson & Co., Regulation Best Interest Disclosures, effective December 22, 2021)
Estate account asset transfer (per issue)$50.00, a related charge from the same Fees and Services schedule
Custodian ambiguityNone: D.A. Davidson is itself the broker-dealer/custodian for most accounts
ACATS validation + completion window1 business day to validate, 3 business days to complete (FINRA Rule 11870)

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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 D.A. Davidson & Co. charges before you decide whether to leave? See the dollar breakdown from D.A. Davidson & Co.’s own fee disclosure.

Sources

Methodology. This page was built September 23, 2026, drawing on D.A. Davidson & Co.’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.

Weighing whether to move ahead? Read the full D.A. Davidson & Co. review, including its fiduciary status and what it costs to leave.

Leaving a different firm? See the exit guides for all 189 firms, with the four steps every exit shares.