How do I convert my advisor client account to an Individual IB account?
Overview:
Due to varying reasons, some clients of advisors no longer want their account to be managed by a Financial Advisor, but they wish to maintain an individual account at IB.
Information:
To transfer an FA Managed account to an Individual IB account, you must create a new Individual account where all aspects of the new account match those of the existing account (titles, tax ID's, trading permissions). Once the new account is approved, log into the old account's Account Management, select Funds Management -> Internal Transfers.
Note
- Only Cash can be internally transferred from an FA managed account to an Individual IB account. IB does not currently provide a facility for performing an internal account transfer when moving from an FA managed account to an individual account.