I worked at a fiduciary that went down so feel confident speaking to this. You're still not getting it. It's not like other startups that fail where you just get some temps and hope it solves itself. You have a specific timetable from the moment you lose your license to transferring every cent out. Past that window, there are penalties and further legal problems with the SEC. It's safe to say anybody – even slimy companies – are in full overdrive as this is going down.
ACAT is not that simple. Most brokerages charge you a fee of upwards of $50 to do it. If the brokerage is going down and they must invoke an ACAT for you, they eat the fee. Again, it's misinformed to be incurring charges and even potentially taxable events because of your philosophical beliefs in the success or failure of a company.
ACAT is not that simple. Most brokerages charge you a fee of upwards of $50 to do it. If the brokerage is going down and they must invoke an ACAT for you, they eat the fee. Again, it's misinformed to be incurring charges and even potentially taxable events because of your philosophical beliefs in the success or failure of a company.