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Passfolio Migration
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What is happening to my Passfolio account?
What is happening to my Passfolio account?
Updated over a week ago

Passfolio has made the decision to no longer provide US broker services and has agreed to transfer its existing customer accounts to Sproutfi. Passfolio brokerage customers from select countries and US states will now be able to rely on Sproutfi's platform to continue investing in the US market safely and conveniently.

The migration of investment accounts will be automatic and free of charge for all users. All stocks (and fractionals), ETFs, and the cash balance (in the brokerage account) will be transferred in a simple and transparent way. Assets contained in PassCard, PassEarn, and Crypto products will not be migrated.

To further explain:

  • Passfolio and Sproutfi are "introducing brokers", i.e. brokers that handle the interface between the end user and the stock market, through an "executing broker"

  • DriveWealth LLC is a U.S. broker ("executing broker") and our partner that facilitates the custody of our clients' investment accounts in the US and handles all trading in the US stock markets. Passfolio also relies on DriveWealth for the custody of its clients' investment accounts.

Therefore, with the migration, Passfolio's clients' investment accounts will continue to be held at Drivewealth LLC, but asset trading and portfolio management will be transferred to Sproutfi's platform.

We would like to emphasize that Sproutfi is not merging with Passfolio, and will not be assuming Passfolio's operations. We are only acquiring Passfolio's book of clients, not assuming their operations.

When will the transfer occur?

Until November 16, 2022, customers will be able to trade via the Passfolio app, before the required 2-day trading black-out.

The account transfer date will start on November 18, 2022, after markets close. On the transfer date, your assets will begin transferring to your new Sproutfi account.

Customers will be able to view their portfolios and resume trading via the Sproutfi app on Monday, November 21st.

What do I need to do now?

Depending on your case, there is no need to do anything now. To read more about what you can expect, click here to read the details and instructions for the migration from Passfolio to Sproutfi.

If you wish to opt out of the migration, kindly read further here.

If you have any questions regarding your Passfolio account and its functionality before the transfer date, please consult the email that was sent by the Passfolio team and/or reach out to their support team at

If your country of residence or US state was not mentioned above, please contact Passfolio support or DriveWealth support, and both teams will be able to provide more information.

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