|
My question may or may not be germaine to this NG. If not, maybe you can
give me a reference to the information I seek.
The stock broker I have been using for several years is interested ONLY in
selling and buying stocks, for the commission, of course. Advice has been
useless, even costly.
Bottom line, I have liquidated all but three stocks, which are good
investments that I want to hold. How, or can I, have stock CERTIFICATES
issued to me, and take the broker out of the loop?
L. H. Boyd
Tennessee
|
| |
| |
LHB wrote:
The stock broker I have been using for several years is interested
ONLY in selling and buying stocks, for the commission, of course.
Advice has been useless, even costly.
Bottom line, I have liquidated all but three stocks, which are
good investments that I want to hold. How, or can I, have stock
CERTIFICATES issued to me, and take the broker out of the loop?
Having certificates is actually not very convenient if you want to
sell at some point. You could find a discount broker that makes no
recommendations and allows you to make all your own trades, say over
the internet, which is probably pretty much what you've been doing but
paying much too high a commission.
But if you really want the certificates, demand them from your broker
and they should have them issued to you. They are currently the
"legal" owner of the stock as trustee for you. So it's normally up to
them to have it changed.
Stu
|
| |
| |
My question may or may not be germaine to this NG. If not, maybe you can
give me a reference to the information I seek.
The stock broker I have been using for several years is interested ONLY in
selling and buying stocks, for the commission, of course. Advice has been
useless, even costly.
Bottom line, I have liquidated all but three stocks, which are good
investments that I want to hold. How, or can I, have stock CERTIFICATES
issued to me, and take the broker out of the loop?
L. H. Boyd
Tennessee
Open an account with a discount broker (or on-line broker) that does not
offer advice and only charges a small amount for trades that you make (at
your direction). The new discount broker will show you how to fill out forms
to have your stocks transferred to the new broker, at no cost to you.
Many of these discount brokers (like Schwab, Fidelity, E-Trade) have local
offices in most cities that can help you.
You do NOT want paper certificates issued. Trust me.
|
| |
| |
In article <h1fbv0lkbib1i3doc802ia9bv7040ggbeq@4ax.com>,
"LHB" <horse@aol.com> wrote:
Bottom line, I have liquidated all but three stocks, which are good
investments that I want to hold. How, or can I, have stock CERTIFICATES
issued to me, and take the broker out of the loop?
Yes, just ask your broker to deliver the certificates.
There will, of course, be a fee for this service. There
may be additional fees when you give these certificates to
another broker to sell them. Another option would be to
establish an account at another brokerage, perhaps a
discount brokerage, and have your account transferred.
-john-
--
======================================================================
John A. Weeks III 952-432-2708 john@johnweeks.com
Newave Communications http://www.johnweeks.com
======================================================================
|
| |
| |
LHB wrote:
My question may or may not be germaine to this NG. If not, maybe you can
give me a reference to the information I seek.
The stock broker I have been using for several years is interested ONLY in
selling and buying stocks, for the commission, of course. Advice has been
useless, even costly.
Bottom line, I have liquidated all but three stocks, which are good
investments that I want to hold. How, or can I, have stock CERTIFICATES
issued to me, and take the broker out of the loop?
Of course.
You might also complain to the brokerage about the broker's behavior.
Past history indicates that you won't get any of your losses back, but
there's a chance they might discipline him.
You can also take your business elsewhere, and probably should.
My personal opinion, having nothing to do with legal matters: If you are
unsophisticated enough to be relying on a broker for recommendations --
as opposed to doing your own research with the broker's help -- you
shouldn't be trading in stocks at all. Find a few good mutual funds
(Morningstar.com is a good starting point) and divide your future
investments among them.
Oh, you don't say how old you are. If you are young, you should
probably invest mostly in "growth" funds, perhaps even fairly aggressive
ones(*) If middle-aged, a significant part of your investments should
be in bonds or conservative funds. If you are in a high tax bracket
(>28%), consider double-tax-free bonds for part of your investments.
(*) but if you go into aggressive funds, it's even more important to
divide your investment among different funds, and keep at least part of
your investments in less aggressive funds.
--
I pledge allegiance to the Constitution of the United States of America,
and to the republic which it established, one nation from many peoples,
promising liberty and justice for all.
|
| |
| |
"LHB" <horse@aol.com> writes:
The stock broker I have been using for several years is interested ONLY in
selling and buying stocks, for the commission, of course. Advice has been
useless, even costly.
Bottom line, I have liquidated all but three stocks, which are good
investments that I want to hold. How, or can I, have stock CERTIFICATES
issued to me, and take the broker out of the loop?
Call the brokerage and tell them you want to take physical
possession of the certificates. There will probably be a
fee for that.
Alternatively, open an account with a discount broker and
fill out the *new* broker's transfer of assets form and
transfer the stuff in your old account to the new account,
then close the old account once the transfer goes through.
--
Rich Carreiro rlcarr@animato.arlington.ma.us
|
| |
| |
On Mon, 24 Jan 2005 22:31:30 -0500, "LHB" <horse@aol.com> wrote:
My question may or may not be germaine to this NG. If not, maybe you can
give me a reference to the information I seek.
The stock broker I have been using for several years is interested ONLY in
selling and buying stocks, for the commission, of course. Advice has been
useless, even costly.
Bottom line, I have liquidated all but three stocks, which are good
investments that I want to hold. How, or can I, have stock CERTIFICATES
issued to me, and take the broker out of the loop?
L. H. Boyd
Tennessee
The magic words are "transfer and ship". The stocks are almost
certainly held in "street name", meaning the actual stockholder is the
broker, who posts transactions in the stock to your account. So the
stocks must be transferred into your name and the certificates shipped
to you.
Brokers used to do this for free, but not likely you can find one who
will do this anymore (if you are a very good customer of a
full-service broker, they might waive fees).
One good reason to do this is if you want to participate in a dividend
reinvestment plan. You usually can't register stocks held in "street
name" for such a plan, but you can if you hold the stocks in your
name.
Or, if all you want to do is stop using that broker, go to a discount
broker and tell them you want to transfer your account. They will send
the appropriate paperwork to your present broker. Don't do this if
you're in a hurry.
--
Chris Green
|
| |
| |
|
