Overview
Employee stock plans are a form of compensation where companies issue company stock to their employees. If you leave your employer, or you’re given permission to transfer your shares, you can move your funds to another financial institution.
- If you want to actively manage your investments, consider transferring to a self-directed investing account.
- For a hands-off approach where Wealthsimple manages your investments, transfer to a managed account.
Eligibility
Make sure you can transfer your shares
- Contact your employer or reach out to the institution holding your funds to determine how many units you can transfer.
- In most scenarios, you can transfer vested shares, which are shares that are secured in your possession.
You must transfer shares into an account of the same type
- Your transfer must be to the same account type as your originating institution.
- You can't transfer shares from a non-registered account directly into a registered account (like an RRSP or TFSA).
Transfer shares from Computershare, Solium, Shareworks, TSX/TMX Trust
Step 1. Download an account or Direct Registration Statement (DRS) statement
We’ll ask you to provide these documents when you set up the transfer in Wealthsimple.
Step 2. Set up the transfer in Wealthsimple
- Log in to your Wealthsimple account
- Select Move from the top menu
- Select Transfer an account to Wealthsimple
- Open the Account type menu
- Choose an account type to transfer
- Select Next to continue
- Follow the prompts to complete your account transfer
- Once completed, submit your transfer request
- Sign in to the Wealthsimple app on your mobile device
- Tap the Move tab at the bottom of your screen
- Select Move an account to Wealthsimple
- Tap Get started
- Follow the prompts to complete your account transfer
- Once completed, submit your transfer request
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
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
- Log in to your Wealthsimple account
- Select Move from the top menu
- Select Transfer an account to Wealthsimple
- Open the Account type menu
- Choose an account type to transfer
- Select Next to continue
- Follow the prompts to complete your account transfer
- Once completed, submit your transfer request
- Sign in to the Wealthsimple app on your mobile device
- Tap the Move tab at the bottom of your screen
- Select Move an account to Wealthsimple
- Tap Get started
- Follow the prompts to complete your account transfer
- 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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