I think I have arranged to transfer the inherited IRA money from my mother's account at BNY to a new account in my name at Fidelity. It's at Fidelity because they were willing and able to do this, rather than telling me that I would have to go somewhere else to get a medallion signature.
A couple of weeks ago Adrian's advisor at Fidelity said that they could provide the medallion signature, and would do it for free because she has an account there. When she called this morning to make an appointment, they told her that they couldn't do that for her partner, but if I created an account today to transfer the money into, I could go there tomorrow and get the medallion signature. So, I called Fidelity to set up the account.
That went more smoothly than I expected. Someone walked me through the process of creating the new account, and setting up the transfer. He said the Fidelity back office people will take care of moving the money, and he didn't think I would need the medallion signature, meaning I don't need to go to their office. The website said the "estimated completion date" was Dec. 16, and the man I was talking to said it would probably be sooner than that.
I want this to be done before the end of the year, so I can take the 2025 required minimum distribution.
I am hopeful that this will work, even if they call me and tell ne to come in and get the medallion signature guarantee.
A couple of weeks ago Adrian's advisor at Fidelity said that they could provide the medallion signature, and would do it for free because she has an account there. When she called this morning to make an appointment, they told her that they couldn't do that for her partner, but if I created an account today to transfer the money into, I could go there tomorrow and get the medallion signature. So, I called Fidelity to set up the account.
That went more smoothly than I expected. Someone walked me through the process of creating the new account, and setting up the transfer. He said the Fidelity back office people will take care of moving the money, and he didn't think I would need the medallion signature, meaning I don't need to go to their office. The website said the "estimated completion date" was Dec. 16, and the man I was talking to said it would probably be sooner than that.
I want this to be done before the end of the year, so I can take the 2025 required minimum distribution.
I am hopeful that this will work, even if they call me and tell ne to come in and get the medallion signature guarantee.
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