Why Would You Transfer Shares into Rask Invest?
If you hold the same ETFs that are in your chosen Rask Invest model (e.g. Saturn Jupiter, Luna, Martian, Terra, Mercury or Solar), you can fund your account by transferring those ETFs, provided the account you are transferring from is in the same name as your newly established Rask Invest account.
The main reason our investors do this is to avoid triggering capital gains tax. By transferring, you do not have to sell and then repurchase the same ETFs.
In some instances, investors transfer an existing portfolio even if the investments are not held in the models. They do this because they are happy for the team to sell down their investments and purchase the new holdings.
What Do You Need to Do?
Open a Rask Invest account by selecting the model you’d like to invest in and clicking “Open Account.”
Fill out this form . These forms will need to be signed as a wet signature (i.e you can't digitally sign it), but they can be sent over via email. Sounds a little crazy - I know!
Return the signed forms via email (invest@rask.au) and include a copy of your driver’s licence. The brokers will use the signature on your licence to verify the forms.
It’s important to note that while the above may seem like a lot of steps, once you have opened the account and signed the forms, we take care of the rest!
Transfer FAQs
When Would You Not Transfer Shares/ETFs In?
You would not transfer in shares or ETFs if you wanted to keep them for any reason. Even ETFs in our model portfolios may eventually be sold if we make changes. If the shares or ETFs are not in the model portfolio and you’re happy for them to be sold, it is quicker and involves fewer steps to sell those holdings yourself and start with cash.
Can You Transfer International Shares?
No, at this stage, we can only transfer ASX-listed shares and ETFs.
Can I Transfer in a Share or ETF and Ask You to Hold It?
No, your account will be managed in line with the model portfolio you have chosen. We cannot hold anything that isn’t currently in the model.
Will You Wait for the Right Time to Sell Down Holdings?
Shares or ETFs not in the model will be sold in the first rebalance after your purchase history has been recorded. We do not attempt to time the market, as our priority is ensuring your account aligns with the model from day one.
How Can I Transfer in Enough Cash to Ensure No Holdings Are Sold?
This is a common question, especially for those who have held their ETFs for some time. We assess this on a case-by-case basis, so it’s best to contact our team to run scenarios for you. Please use the chat below to do this. It’s important to note that Rask Invest can change the ETF weights in the model, so there is no guarantee an ETF will be held indefinitely.
Please ask to speak to a person or email invest@rask.au and we can work with you on what this figure would look like.
Is There a Cost to Transfer In?
There is no charge to transfer in or out of Rask Invest. However, the broker you are leaving may charge fees according to their PDS.