Below is a guide for transitioning your account. Please note: After July 29, 2021, OpenInvest logins will cease to exist and you can only access your statements and documents through Apex. To create an Apex login, please refer to the guide here: Apex Online Account Setup.


Taxable Accounts (Non-Retirement)

Click here to download the flowchart in PDF form.

Option 1: Transfer your account via ACATYou can transfer your existing investments to another custodian of the same account type without cashing out. ACATs (Automated Customer Account Transfer Service) are initiated by your new custodian and sent to your current custodian (Apex), so please reach out to your new custodian to understand their process. You can provide the following information:

  • Apex Address:
    The Apex Clearing Corporation
    c/o Banking
    350 N St Paul Street, Ste 1300
    Dallas, TX 75201
  • Apex Clearing Number: 0158

Please note: If you choose this option, any fractional shares of stock held in your account will be sold, which may have tax consequences; the cash proceeds from those sales will be transferred along with any whole shares in your account to the new custodian. Please consult with a tax professional for more details about your specific circumstances as OpenInvest is not licensed to give tax advice.

Option 2: Cash outTo cash out (liquidate) your account, please email Apex at bdwacct@apexclearing.com.

Individual Retirement Accounts (IRAs)

Click here to download the flowchart in PDF form.

Please note: There may be tax implications depending on your specific circumstances. Please consult with a tax professional for more details as OpenInvest is not licensed to give tax advice.

Option 1: Transfer your IRA via ACATYou can transfer your IRA to another custodian of the same account type. Transfers are initiated by your new custodian, so please reach out to that custodian to understand their process.

Option 2: IRA TransferYou can transfer your IRA to the same type of IRA to another custodian by liquidating and having the funds sent directly to the new custodian. Transfers are initiated by your new custodian, so please reach out to that custodian to understand their process.

Option 3: Cash outTo cash out (liquidate) your account, please email Apex at bdwacct@apexclearing.com. If you liquidate your IRA, it will generally be taxable as a withdrawal (including the 10% additional tax if you're younger than 59 1/2 years old) unless you roll it over to another IRA.

Option 4: IRA RolloverA rollover is simply liquidating, withdrawing and then re-depositing your funds in a new IRA, but there are rules. To avoid penalties, you must "roll over" your IRA within 60 days to another IRA of the same account type. This is different from option 2 because the funds are sent to you, not to your new custodian. Please reach out to your new custodian to understand the rollover process. If you do not re-deposit the funds within 60 days, you will owe income tax and perhaps penalties on the funds.

*Please note that you may need to complete an IRA Distribution form for options 3 and 4.

Important note: If you take no action on your account by July 29, 2021, your account will remain at Apex, the custodian holding your shares.

OpenInvest logins will cease to exist after July 29, 2021. After July 29, 2021, you can only access your statements and documents through Apex and must create a login. To create an Apex login, please refer to the guide here: Apex Online Account Setup. You will continue to have access to your statements and documents through Apex online even after the account is closed. To take action on your accounts with Apex (transfer, rollover, cash-out, etc.), contact Apex directly by emailing bdwacct@apexclearing.com.

After July 29, 2021, you will be responsible for any fees associated with transfers, rollovers, and/or cash-outs.