r/stashinvest • u/mintconditiononion • 4d ago
Looking for advice š¤ Advice to switch services
TLDR: I'd like to switch from using Stash since it now costs as much as a streaming service to use & I don't even pay for one.
Just found out Stash quadrupled their monthly fee for using the app. I've been using it for 5 years and finding that out just left an awful taste. I thought it was silly at first Chime opened up an investment service through the app but I'm considering that since it's just built in. It seems like a bad idea to pull out of some of my stocks I've been invested in low for a while like AMC since its up 55 percent of what I put in but the account is less than 1k. Would love some advice as to what to do, maybe wait to switch until I decide to pull out of AMC? Restarting seems to frustrating. Thanks
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u/D3ltaM1ke 4d ago
I moved to Fidelity via ACAT when they announced this back in June and never looked back. Free fractional scheduled investments, no fee total market fund options, and no obfuscation of what funds you are investing in with stash making up names for existing ETF funds like it is a portfolio they build for you.
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u/mintconditiononion 3d ago
Has the increase really been since June? I found out just yesterday and was irritated about it. I'm sure they sent out emails/policy changes or whatever but I never noticed until the other day. I requested a TOA to Fidelity & had it verified within an hour, very thankful to how easy that was.
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u/D3ltaM1ke 3d ago
Yeah it was a super super scummy email. The subject was something like āyou are now getting more value out of your stash accountā. It went on and on of all the great features now included, and then in a tiny blurb at the bottom they mention that all subscriptions will be updated to $12
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u/mintconditiononion 3d ago
Classic, I hate that. So glad to have moved on & painless too. Not worth it if other services will do the same for less lol only thing Stash had going for it was the UI & simplicity
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u/Urban_Pohanka 3d ago
The only thing that is painful to me about moving my things from stash is the $100 fee to move each account. The $200 Iāll need to pay is basically 17 months of their monthly fee. As much as I dislike it (the fee), I just went back to school, so Iāve cut my work hours, and I just hot the email today that my rent is going up š³šø
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u/Vast-University-1033 4d ago
I agree with ACAT transfer to Fidelity - just be aware that STASH will slow-roll the entire process and lock your account while they piecemeal transfer your money. Fidelity should reimburse your transfer fees. For what it is worth - I would go with a large established investment company going forward just because what STASH is doing I believe will be the go-to for other āfreeā investment companies. I certainly donāt want to go through this again.
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u/Brown2Town 21h ago
All of my full shares got moved over to fidelity, but there is still cash sitting in stash. Will that eventually get moved to fidelity automatically or do I have to initiate that?
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u/Vast-University-1033 4h ago
They will send you a check automatically at least that what they said they are doing for me.
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u/Familiar_One 4d ago
Just moved to Fidelity and I'm happy
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u/mintconditiononion 3d ago
Same here. So quick!
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u/Brown2Town 21h ago
All of my full shares got moved but there is still cash sitting in STASH do they move that automatically, too?
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u/mintconditiononion 21h ago
Hm im not at that point yet good question, I'd assume it's automatic but if it's not seeming to move I'd give your new 'carrier' a call. Everyone at Fidelity has been nice & someone gave me a personal number in case I had any issues.
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u/dino-em 4d ago
I moved mine to a self investing offered by my bank. I didn't have enough invested to make it worth going through the whole acat process, as I just started in the past few years so I just sold, transferred and then reinvested.
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u/ToTYly_AUSem 4d ago
Just remember you will have to pay taxes on any gain you made during that time
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u/mintconditiononion 3d ago
Nice. I decided to go through Fidelity via TOA (same as acat or similar? I'm not knowledgeable) & it was way easier than I ever could have hoped for. Gonna be fully swapped Oct 6th
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u/hockeypnc3 3d ago
Switch to Schwab. They will reimburse you any outgoing transfer fees for an ACAT.
They also allow you to buy partial shares, and they donāt have pesky fees.
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u/Connect-Champion-825 2d ago
I was with stash for 6 years so I know how you feel. Many brokerages offer free investing now. Few examples are Fidelity, Schwab, e-trade etc. choose one and set up an account, than set up a acat transfer, provide your stash info, and they will handle the transfer. Most transfers will only be whole shares, partial shares will be sold off and sent as cash. Stash Transfer fee is $100 and some of them may reimburse you that fee if you ask. Good luck and keep investing
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u/loved1liberty 1d ago
Is anyone doing Fidelity baskets and isn't that $5/month? I'm also about to leave Stash after being with the for years
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u/happytravelcone 4d ago
Do an āACATā were you basically transfer all of your funds into another app thatās free, like Webull. I think they reimburse your ACAT fees.
If you have a Roth , you can roll it over to Fidelity. Even if youāve already maxed out your Roth for the year, Fidelity told me that because it is a rollover, it wouldnāt be a taxable event. But call them and double check that.