Transferring your registered account into Neo Invest is a good opportunity to access professionally managed portfolios that are customized to your unique goals, timelines, and risk comfort.
The biggest advantage to transferring your registered account is that it allows you to move funds to Neo Invest without using up your current contribution room.
If you’re interested in transferring a non-registered account, you can easily and quickly set it up as a regular investment contribution.
To sign up
- Sign up for a Neo Invest account.
- Once you log in to your Neo account, select the ‘Investments’ tab on the left side of the screen.
- Select ‘Start investing’, and then follow the prompts all the way through the application process.
- Choose what type of transfer you’d like.
- Full transfer
- We’ll send instructions to your relinquishing institution to liquidate and/or sell all the assets in your account if you haven’t done so already, and transfer the remainder to your Neo Invest account.
- Depending on the situation, your relinquishing institution may also process an account closure (and associated fees) as part of this transfer.
- Partial transfer
- We’ll send instructions to your relinquishing institution to transfer cash up to the amount you specified. If the amount of cash available is less than what you’ve estimated, the relinquishing institution may sell assets in the account to make up the difference.
- Full transfer
Note: Most institutions charge a transfer fee, which can vary. Please contact your other institution for further information.
- Send an email request through our support team.
- Please include the following details:
- The name of your other financial institution.
- The account number of your other financial institution (usually found on your account statements) you’re transferring from.
- The name of the Neo Invest goal you want to transfer the funds to.
- Whether you would like a full or partial transfer.
- How much you wish to transfer.
- After your request is received, you should see your funds being liquidated from the transferring institution within 3 - 5 business days, and appear in your Neo Invest account within 8 - 20 business days depending on your transferring institution. We’ll reach out to ask for any additional information if your relinquishing institution requests it.
- Once your funds arrive, they’ll be invested automatically, and you'll see the changes reflected in your portfolio.
- OneVest currently only supports in-cash transfers: This means you can’t move over existing assets (stocks, mutual funds, etc.) other than cash.
- Watch out for transfer fees from your other financial institution: Your financial institution may charge you fees for partially or fully transferring out your account.
- Make sure you have the requested amount of cash available in your account: If the amount of cash available is less than what you've estimated, the relinquishing institution may sell assets in the account to make up the difference.
- If you anticipate the estimated amount to be more than your available cash, we recommend you fulfill any such sell orders yourself first to make sure you can control which assets are sold.
- Make sure the account you're transferring from matches your Neo Invest account: You want to make sure that the account you have with your other financial institution is the same type of account you have with Neo Invest. For example, if you're transferring a TFSA, make sure you have a TFSA open in your Neo Invest account.