My experience rushing to get away from TD was that if you have a large balance in even one of your accounts the new broker will eat the costs on both sides and do all the paperwork. The brokers Association have a policy that once the transfer papers are received (by fax or electronic couriour - meaning same day) from another member the LOOSING broker is obligated to complete the transfer (all "in kind" thus no tax) within 10 business days. Any cash in accounts goes in 4-6 days and a sheet for stocks, bonds, etc in about the same time, inwhich case your new broker will (should) allow you to start trading at that point (you NEED to keep carefull track of your trades so as not to get out of balence). The transfer of the actual certificates is suspose to be completed in the 10 days. You should call your new broker every 3-4 four days to have them call TD enquiring as to why they are so slow. The process is ~20-25 business days from start to finish (the day you open the new accounts to when everything is done) since the new broker has to do a background check on you before they are premitted to assign you account numbers. With the account # in place you can start trading with whatever funds you deposited upon completing the applications, transfer forms (acc# filled in once approved and bang - off to TD) ane electronic funds transfer wt bank account (advise that it be with a different institution). Infact, nonRSP accounts should be able to have the cash portion transfer completed in under the Check 5-day hold period because it is electronic funds transfer (which you should sign up for with respect top your bank line of credet or check account). Expect lots of free trades in the first quater (condition that account stays in place for 1-2 years) so plan to start it with 1-2 weeks remaining in current quater. This for +$250,000 and if right place right time $100,000.

Old Joe