Alpaca Migration FAQs
General Questions
What is changing? Greenlight is changing broker-dealers from our current broker-dealer, DriveWealth, to our new partner, Alpaca. The broker-dealer is the company that does all of the buying and selling of investments for all Greenlight customers. Our new partner, Alpaca, will now be managing this process. This will provide a more reliable experience and new, exciting invest features for you and your family.
Do I need to do anything? Prior to the migration on November 13th, we ask that you review and accept our new terms from your Greenlight app. This will ensure that as soon as your account is migrated you will be able to fully access your account.
Is there a deadline to transfer my account to another brokerage if I do not want to migrate? Yes, please complete the Automated Customer Account Transfer Service (ACAT) process outlined here by November 8th, 2025.
Is my money safe during the migration? Your funds will be securely transferred from our current partner to our new one. There will be no changes to the cash amount in your invest account(s) or your shares.
Why is Greenlight changing partners? Greenlight is changing partners to provide a more reliable experience and launch new invest features for you and your family.
How long will the switch to the new partner take? The migration from our current broker-dealer, DriveWealth, to our new one, Alpaca, will begin on Thursday, November 13th. The migration is expected to conclude the following week. We will have more details in the app on the invest tab on timing as the migration progresses.
What can I expect during the switch?
The migration for your invest account(s) begins on November 13th.
You will still be able to make trades on November 13th, but you will not be able to move money into or out of your Invest account starting on this day.
Beginning at market close on November 14th, you will not be able to move money or make any trades until the migration is complete
We expect the migration to be finished and your account to be fully accessible the week of November 17th.
What should I do if I want to move my investment account to another brokerage account before the migration? Please follow the current Greenlight Automated Customer Account Transfer Service (ACAT) process outlined here.
Who do I contact if I have questions about the migration? If you have any questions about the migration process please contact our support team at 888.483.2645.
Account Access & Continuity
Will I lose access to my account during the process? During the migration, which begins on November 13th, you will not have access to move money into or out of your invest account(s). For a short period of time, while the migration occurs, you will also not be able to make trades. This will begin at market close on November 14th. Our goal is to make this time as short as possible, and for your account to be up and running as early as possible the week of November 17th.
How will I know when my account has been fully moved? Once your account has been fully migrated, when you login and tap into your invest account(s) your account will be fully accessible to move money and make trades.
Will my account number change? Yes, you will have a different account number. If you are required to report your account to your employer please be aware of this change. Your new account number will be available in all of your trade confirmations and monthly statements, which are available in the documents section on your Invest dashboard.
What if I don’t sign the new terms? If the new terms are not signed, you will not have access to make trades or move money in or out of your investing account(s). Any recurring investments or allowance payments going to Invest will continue to process for 90 days after the migration.
Investments & Money Movement
Will my investments or holdings be impacted by the migration? Your current investments should all migrate over unchanged, meaning the same amount of shares you have as of November 14th market close should be transferred over. There are exceptions with any DTC ineligible or OTC securities that may not transfer over, these should be securities that you are not able to sell out of either due to the fact that they are not traded on a central exchange or are ineligible to be transferred. If any of your investments are affected by this, you will receive an email prior to the migration.
Will fractional shares migrate or do they need to be sold? Your current investments, including fractional shares, should all migrate over unchanged, meaning the same amount of shares you have as of November 14th market close should be transferred over. There are exceptions with any DTC ineligible or OTC securities that may not transfer over, these should be securities that you are not able to sell out of either due to the fact that they are not traded on a central exchange or are ineligible to be transferred. If any of your investments are affected by this, you will receive an email prior to the migration.
What will happen to my recurring transfers or allowance? Any recurring transfers, like recurring investments or allowance, that are meant to process during the migration will process after the migration is complete.
What happens to dividends, interest, or pending trades during the migration? Any dividends or interest that are meant to process during the migration will process after it is complete. All investments made prior to market close on Friday, November 14th will go through. After market close, no trades can be made until early the following week, when the migration is complete.
What happens if I try to deposit or withdraw money while my account is being migrated? You will not be able to submit your request to deposit or withdraw money when your account is in the process of being migrated.
Will my account realize gains and losses during normal trading hours if the migration is not completed by the time the market opens on November 17th? Yes, your funds will be invested in the market throughout the migration period and are subject to gains and losses during trading hours.
Statements & History
Will I still be able to access my historical account statements after the migration? Yes, your monthly statements, trade confirmations, and tax documents will remain available to you within your invest account(s) in the app.
How will I receive my tax forms if I had accounts with both providers in the same tax year? In early 2026, you will receive more information on eligibility for 1099 tax forms. If you are eligible for a 1099 tax form for tax year 2025, you may receive one or two tax forms from our previous partner, DriveWealth, and our new partner, Alpaca, depending on when your account was held with each. These forms will be available in the tax forms section of your account(s) documentation. It is also possible that you may not be eligible to receive any tax forms.
Changes & Impact
Will the investment options (ETFs, stocks) change after the migration? There are some changes in the stocks and ETFs that you can invest in. With our new partner there will be additional stocks and ETFs you can invest in, and there will be a few that you have been able to invest in that will no longer be available. Any investments that you cannot buy additional shares of after the migration will be indicated on the details screen. If you have any additional questions about this please contact our support team at 888.483.2645.
Where can I find a full list of the new securities being offered and the securities that will no longer be available before the migration? All securities will be available to search in the Search screen from your Invest Dashboard.
Can I still view stocks and ETFs during the migration? Yes, you will still be able to view all stocks and ETFs during the migration, but you will not be able to make investments during the process. Once the migration has completed, and you have accepted the new terms, you will be able to use your account as normal.
How will my investing experience change after the migration? Your current account will not be affected by the migration. However, with our partner, we will have a more reliable platform and exciting improvements to the investing experience to share with you in the near future.
Will my account features be affected? Your current account features will not be affected after the migration. However, there will be new, exciting features and improvements we will be making to the investing experience in the future with our new partner.
Fees & Disclosures
Will there be any fees or tax implications as a result of the migration? No, there will not be any fees or tax implications as a result of the migration. There may be extremely rare cases where securities must be sold and there may be tax implications, if this affects you, you will receive an email about this before the migration.
Will there be any blackout periods, restrictions, or limitations I should be aware of? During the migration, which begins on November 13th, you will not have access to move money into or out of your invest account(s). For a short period of time, while the migration occurs, you will also not be able to make trades. This will begin at market close on November 14th. Our goal is to make this time as short as possible, and for your account to be up and running as early as possible the week of November 17th.
Are there new terms or disclosures I should review? Greenlight has new terms for investing, in addition to the terms from our new partner, Alpaca. We ask that you review and accept our new terms prior to the migration on November 13th. This will ensure that you have full access to your account as soon as it's migrated.
Support & Communication
Who do I contact if I see something unexpected in my account? Nothing should change in your invest account. If you notice anything unexpected on your account please contact our support team at 888.483.2645.
Where can I find updates on the migration process? By logging into your Greenlight account and tapping Invest from your home dashboard, you will see a message towards the top of your screen indicating the status of where we are in the migration process. On the week of November 17th, if you no longer see any message, this means the migration has concluded and your account is up and running.