I currently have a UTMA(s) with Franklin Tempelton and I would like to transfer the funds to Vangaurd. It seems like it is quite a complex process and can take up to 90 days. Can I just liquidate the UTMA at FT and then re-invest into Vangaurd? Both accounts have negative returns, and are ~3K so I dont forsee any tax liablity.

Are these 529s?

No - UTMA