"Logistically, if all money is in stocks, how do you change planners"? In a lot of cases you can just transfer the shares of stock/mutual fund/ETF to a new brokerage. That way you don't have to sell, which would trigger taxes. In some cases though, if the new brokerage doesn't offer your funds (usually because the funds are special shares of 401k funds), you might have to sell everything first. All you have to do is ask the brokerage if you can transfer "in kind."
"What do you say?" I'm not sure it matters. It's your money, you can do whatever you want with it.
"How does the process work?" You'll have to fill out some paperwork, but once you do, electrons will fly from one brokerage to the next and your money will appear in the new brokerage! It sounds silly, but it's really the truth.
"Does it matter what state?" Nope.
|