Schwab Vs Fidelity
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Our club was with Schwab after being with TD America for several years. When we had a member withdrawing and we wanted to give her appreciated stock, we were not allowed to do that. She even had a Schwab account. Our ordeal went from local level - Dallas - to higher sources where a final representative suggested moving our account to a different broker. Now with Fidelity and made stock transfer to withdrawing member easily. Hope account sync can be solved. Sent from my iPad > On Dec 18, 2025, at 4:13â¯PM, Raj Araga via bivio.com <user*42044800001@bivio.com> wrote: > > Hello All, We are a new investment club (in the forming) and are exploring which brokerage to go with. I love and use the ThinkOrSwim tool and have a personal account with both. I see a lot of discussion regarding this topic at bivio. Is there a post that covers the difference between the two in a comprehensive manner? Seems like this question is a more common one. Leaving out the on-going OFX issue, I get Fidelity is favored but I need to explain to the members why we are going with one over the other. Appreciate any insight/input! Thank you
Elizabeth, Did your partnership agreement state that you could pay a member with a transfer of stock? I am curious as to why they allow some clubs to do it and some not. Do they have a copy of your Partnership agreement? They do have ours, it states that option for withdrawal payout, and it is important that all current members are listed and have signed the document. Genie On 12/21/2025 7:57 AM, Elizabeth Shorey
via bivio.com wrote:
Our club was with Schwab after being with TD America for several years. When we had a member withdrawing and we wanted to give her appreciated stock, we were not allowed to do that. She even had a Schwab account. Our ordeal went from local level - Dallas - to higher sources where a final representative suggested moving our account to a different broker. Now with Fidelity and made stock transfer to withdrawing member easily. Hope account sync can be solved. Sent from my iPad On Dec 18, 2025, at 4:13â¯PM, Raj Araga via bivio.com <user*42044800001@bivio.com> wrote: Hello All, We are a new investment club (in the forming) and are exploring which brokerage to go with. I love and use the ThinkOrSwim tool and have a personal account with both. I see a lot of discussion regarding this topic at bivio. Is there a post that covers the difference between the two in a comprehensive manner? Seems like this question is a more common one. Leaving out the on-going OFX issue, I get Fidelity is favored but I need to explain to the members why we are going with one over the other. Appreciate any insight/input! Thank you --
Thank you, Genie Shoffey 816-516-3727 Our Partnership Agreement definitely lists securities as well as cash as payment to withdrawing members. As I read all these Chapter Chat emails, it is evident that Schwab is inconsistent in their policy. Some clubs have been fortunate to have transfer of stocks go through and others have hit the "brick wall."
On Sunday, December 21, 2025 at 09:35:48 PM CST, Genie Shoffey via bivio.com <user*15744200001@bivio.com> wrote:
Elizabeth, Did your partnership agreement state that you could pay a member with a transfer of stock? I am curious as to why they allow some clubs to do it and some not. Do they have a copy of your Partnership agreement? They do have ours, it states that option for withdrawal payout, and it is important that all current members are listed and have signed the document. Genie On 12/21/2025 7:57 AM, Elizabeth Shorey
via bivio.com wrote:
-- Thank you, Genie Shoffey 816-516-3727 Thanks for all your inputs in the discussion. We have now formed the club (Jan 2026) and deciding to go with Fidelity. We am leaning towards Fidelity mainly because of ease of transferring member shares out of the account (thanks to Ira for pointing this out in a conversation) when they withdraw membership, fractional shares and excellent customer support. Great to be part of this buzzing and helpful community! |
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