Transfer shares from an employee stock program to Wealthsimple

In this article:

Overview

You can move shares from your employer's stock plan to a Wealthsimple account. An employee stock plan is a form of compensation where companies give company stock to their employees. If you've left your employer, or you have permission to transfer your shares, you can move your funds to a different financial institution.

Eligibility

Before starting your transfer, you must confirm two things:

  1. You can transfer your shares. Please contact your employer or the institution that holds your shares to find out how many units you can transfer. In most cases, you can transfer vested shares or unrestricted shares, which are shares secured in your possession. Restricted Stock Units (RSUs) are not transferable.
  2. How to submit your transfer. The process you follow depends on the account type you're transferring from and the account type you're transferring to at Wealthsimple.

Here's how you should submit your transfer based on your account types:

  • Transferring between non-registered accounts: Follow the in-app instructions in the transfer instructions below.
     
  • Transferring from a non-registered account to a registered plan (like an RRSP or TFSA): You can't transfer a non-registered account directly to a registered account. You must first open a non-registered Wealthsimple account so we can receive the shares. Then, you have two options:
    1. You can initiate the transfer directly with the institution that holds your shares, or

    2. Transfer the shares to your Wealthsimple non-registered account, then internally transfer them to your registered plan.

      Note: This is a contribution and may have tax implications.

  • Transferring from a registered account at a Direct Registration Statement (DRS) institution to a registered plan (like an RRSP or TFSA): You must set up the transfer through the institution that is giving up the shares.

    Note: If you're initiating the transfer to qualify for a Wealthsimple promotion, please contact our support team and let us know. We don't have visibility into a transfer when it's initiated at the relinquishing institution.

     

  • Transferring from a registered account at a non-DRS institution to a registered plan (like an RRSP or TFSA): You can set this up directly through the Wealthsimple app or web. Ensure to select the ESOP/ESAP/ESPP option for your bank when prompted to select the institution your shares are coming from. For example, "Sun Life ESOP/ESAP/ESPP".
     
  • Making a partial in-kind request: You must contact our support team for assistance.

Transfer shares from a DRS institution

DRS institutions include:
  • Computershare
  • Odyssey Trust
  • Olympia Trust
  • TSX/TMX Trust
  • Alliance Trust Company
  • Capital Transfer Agency
  • Endeavor Trust
  • Integral Transfer Agency
  • Marrelli Trust

Step 1. Download an account or DRS statement

We’ll ask you to provide these documents when you set up the transfer in Wealthsimple.

Note: A DRS allows us to set up a transfer directly with our back office. Here's an example. We'll need to view the number of vested units before we can set up the transfer on our end.

Step 2. Set up the transfer in Wealthsimple

Wealthsimple appWeb
  1. Log in to the Wealthsimple app
  2. Scroll down and tap Add or move account
  3. Select Transfer an account to Wealthsimple
  4. Tap Get started
  5. Follow the prompts to complete your account transfer
  6. Once completed, submit your transfer request
  1. Log in to your Wealthsimple account
  2. Select Move from the top menu
  3. Select Move an account to Wealthsimple
  4. Open the Account type menu
  5. Choose an account type to transfer
  6. Select Next to continue
  7. Follow the prompts to complete your account transfer
  8. Once completed, submit your transfer request

Note: If you’re not sure whether to transfer your funds as cash or as-is, check out this guide for more information.

Step 3. Set up the transfer with your stock plan provider (optional)

Once you’ve set up the transfer request in Wealthsimple, you can also request the transfer from the account holding your shares. This will often lead to a faster transfer.

You'll need the following information:

  • Brokerage name: Wealthsimple Investments Inc.
  • Address: 201-80 Spadina Avenue, Toronto, ON, M5V 2J4
  • Transfer details
    • CUID or Broker Code: CSIT
    • Dealer Number: 7829
    • Rep Code: HX1
    • Account number: You can find your account numbers in the My Documents section of our website.

If anything further is needed from you, we'll be in touch via email. Otherwise, we'll let you know when your transfer is complete. If you have specific questions about your transfer, or you’re having trouble setting up your transfer online, please contact our support team.

Transfer from a different employee stock plan provider

Other employee stock plan providers include:
  • ESOP/ESAP/ESPP from Sun Life
  • Canada Life
  • Manulife
  • BMO
  • TD Share Ownership
    • Note: Ensure you select the correct name of the institution when setting up your transfer.

    Step 1. Download your forms and account statements

    If you’ve received forms from your stock plan provider or employer, please fill them out (and scan them, if applicable) before beginning the transfer. You’ll need them when you need to upload your documents.

    Step 2: Set up the transfer in Wealthsimple

    Wealthsimple appWeb
    1. Log in to the Wealthsimple app
    2. Scroll down and tap Add or move account
    3. Select Transfer an account to Wealthsimple
    4. Tap Get started
    5. Follow the prompts to complete your account transfer
    6. Once completed, submit your transfer request
    1. Log in to your Wealthsimple account
    2. Select Move from the top menu
    3. Select Move an account to Wealthsimple
    4. Open the Account type menu
    5. Choose an account type to transfer
    6. Select Next to continue
    7. Follow the prompts to complete your account transfer
    8. Once completed, submit your transfer request

Transfer timelines

Employee stock plan transfers can take 5-10 business days to complete. It's completely normal if there's a gap between the time the shares leave your account and when they show up in your Wealthsimple account.

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