Guides › Switching Financial Advisors
Updated September 25, 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. Robinhood Strategies, the managed-portfolio product run by Robinhood Asset Management, LLC, does not have a separate advisory-only fee schedule: its accounts sit at Robinhood Financial LLC (the introducing broker-dealer) and are cleared and custodied by the affiliated Robinhood Securities, LLC, the same self-clearing structure used for self-directed accounts. Robinhood Financial’s own published fee schedule lists $100.00 for “ACATS, Outgoing,” cross-referenced directly inside Robinhood Strategies’ own ADV brochure as the applicable third-party transfer fee.
Leaving other advisory firms: How to Leave Choreo.
More on this firm: Robinhood Strategies Review and Is Robinhood Strategies a Fiduciary? What Its Own Form CRS Says.
The published numbers
From Robinhood Financial’s Standard Pricing Fee Schedule (document dated September 2026): “ACATS, Outgoing… $100.” Robinhood Strategies’ own Form ADV Part 2A Brochure (dated June 15, 2026), Item 5, cites this exact document: “Clients are responsible for the payment of third party fees (e.g. wire fees, ACAT fees, custodian fees, etc.)… Those fees are borne by clients under their brokerage account agreements with Robinhood Financial and are separate and distinct from the management fee charged by Robinhood Strategies.” The same brochure confirms termination of the advisory agreement carries no separate penalty: “Clients may terminate the Advisory Agreement without penalty and at any time.” Item 15 (Custody) names Robinhood Securities, LLC as “a separate but affiliated entity and fully qualified custodian” providing clearing and settlement for Robinhood Financial, confirming this is a vertically integrated, self-clearing structure rather than an independent third-party custodian.
| What | Figure |
|---|---|
| Robinhood Strategies’ own advisory-termination charge | $0.00 extra: the Advisory Agreement can be terminated without penalty at any time (Form ADV) |
| ACATS outgoing transfer (shared brokerage fee schedule, applies to advisory accounts too) | $100.00 (Robinhood Financial’s own Standard Pricing Fee Schedule) |
| Outgoing wire transfer | $25.00, a related charge on the same schedule |
| ACATS validation + completion window | 1 business day to validate, 3 business days to complete (FINRA Rule 11870) |
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Source: WiserAdvisor’s service descriptionThe 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 Robinhood charges before you decide whether to leave? See the dollar breakdown from Robinhood’s own fee disclosure.
Sources
- Robinhood Financial LLC, Standard Pricing Fee Schedule (September 2026): https://cdn.robinhood.com/assets/robinhood/legal/RHF%20Fee%20Schedule.pdf
- Robinhood Asset Management, LLC (Robinhood Strategies), Form ADV Part 2A Brochure (June 15, 2026): https://files.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=1048371
- SEC Investment Adviser Public Disclosure, Robinhood Asset Management, LLC firm summary (CRD 323736): https://adviserinfo.sec.gov/firm/summary/323736
- SEC Investment Adviser Public Disclosure, Robinhood Asset Management, LLC Form CRS: https://reports.adviserinfo.sec.gov/crs/crs_323736.pdf
Methodology. This page was built September 25, 2026, drawing on Robinhood’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.
Leaving a different firm? See the exit guides for all 189 firms, with the four steps every exit shares.