Club-Friendly Brokerages
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Club-Friendly Brokerages While recently seeking the correct form to update our club roster with our broker, I learned that our broker (Schwab) no longer opens new investment clubs or provides the support they once did for established accounts. Our club is grandfathered but it will be more complicated working with them going forward. Can anyone make a recommendation for a new broker that I can take to my next meeting for discussion? We love the AccountSync feature so it will need to be a company on that list. Thank you. TD Ameritrade. We just started our club and they were the only brokerage firm that would open an investment club account for us. On Mon, Feb 11, 2019 at 12:06 PM Suzanne M. Tuttle via bivio.com <user*13764000001@bivio.com> wrote: While recently seeking the correct form to update our club Hi Suzanne, We too are Schwab and are aware they are no longer taking on new investment clubs. We've lived with it for years and so far no problems. What is the AccountSync? Gail Brilling While recently seeking the correct form to update our club Wow, good to know, Mary Jo. Thank you. Gail, when you have members join or leave, what's your process to officially update your roster? We used to complete a form for Schwab and email it to them to append to our account file, but that isn't an option any longer. AccountSync is the service bivio offers to automatically import transactions from Schwab to our bivio account. Suzanne Etrade has been helpful, friendly & easy to deal with as a club. They sync to Bivio without issue. Best, Dave Nathanson Hawaiian Shirt Society > On Feb 11, 2019, at 9:05 AM, Suzanne M. Tuttle via bivio.com <user*13764000001@bivio.com> wrote: > > While recently seeking the correct form to update our club > roster with our broker, I learned that our broker (Schwab) > no longer opens new investment clubs or provides the support > they once did for established accounts. Our club is > grandfathered but it will be more complicated working with > them going forward. > > Can anyone make a recommendation for a new broker that I can > take to my next meeting for discussion? We love the > AccountSync feature so it will need to be a company on that > list. > > Thank you. > Gail, The Investment Club that I'm with uses Folio One, which offers great discounts with their association with Better Investing. Maybe that could be a solution, or perhaps, TD Ameritrade. On Monday, February 11, 2019, Gail Brilling via bivio.com <user*37481200001@bivio.com> wrote:
We use another software to track members valuations. And we issue specific orders to Schwab which and how many stocks are transferred out. We only have our annual officers as signers on Schwab. And the signers are 2 or 3. Plus prior treasurer. Gail, when you have members join or leave, what's your Thank you, Dave. Thank you, Al. Suzanne: Our investment club has been with TD Ameritrade for nearly 25 years. I've been the Treasurer of the club for about the last 3 years, and frankly, their customer service has been lacking for most of my tenure. We were on the brink of changing brokerage firms during this past year, and it's not out of the question as we continue on. Mike LeAna, Treasurer Sun City Roseville, Bulls&Bears e> On February 11, 2019 at 9:05 AM "Suzanne M. Tuttle via bivio.com" <user*13764000001@bivio.com> wrote: > > > While recently seeking the correct form to update our club > roster with our broker, I learned that our broker (Schwab) > no longer opens new investment clubs or provides the support > they once did for established accounts. Our club is > grandfathered but it will be more complicated working with > them going forward. > > Can anyone make a recommendation for a new broker that I can > take to my next meeting for discussion? We love the > AccountSync feature so it will need to be a company on that > list. > > Thank you. Hi Suzanne, I am treasurer of a club that uses TD Ameritrade. Over many years we have not had any real problems with them. They do AccountSync. I am assistant treasurer with another club that uses myICLUB for its accounting. Fidelity is our broker. We have not had any real problems with Fidelity. They do Account Sync, but not with myICLUB. Ed Berners St. Joseph Valley Investors Club Northern Indiana Model Investment Club
On Monday, February 11, 2019, 12:05:47 PM EST, Suzanne M. Tuttle via bivio.com <user*13764000001@bivio.com> wrote:
While recently seeking the correct form to update our club
roster with our broker, I learned that our broker (Schwab) no longer opens new investment clubs or provides the support they once did for established accounts. Our club is grandfathered but it will be more complicated working with them going forward. Can anyone make a recommendation for a new broker that I can take to my next meeting for discussion? We love the AccountSync feature so it will need to be a company on that list. Thank you. Had forgotten- yes, the first year Schwab wanted the whole roster - And signatures. They soon figured out that was dumb. Plus we just refused. 🙂 On Mon, Feb 11, 2019 at 10:12 AM Suzanne M. Tuttle via bivio.com <user*13764000001@bivio.com> wrote: OK, thanks again, Gail. This makes a lot of sense. When we What we did provide and still provide every year when we change signers/officers is a copy of the club minutes stating who the new officers are and then we provide their vitals and signatures. We try to not have more than 3 or 4 signers. One of us is a continuous signer to provide continuity and authority with the account. On Tue, Feb 12, 2019 at 12:29 PM Suzanne M. Tuttle via bivio.com <user*13764000001@bivio.com> wrote: Being novices when we opened our Schwab account we didn't |
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