It amazes me that people still feel they should be doing automatic DRIP investing.
I can tell you that probably 95% or more of the clubs that have big issues at tax time are those that have been doing automatic dividend reinvesting.
It can take hours to untangle the difficult issues that come with mistakes in record keeping for those types of investments. Usually they have gone unnoticed by club treasurers for many years. The more time that goes by, the more complicated they get.
We don't do that work for you for free to untangle them. From many years of answering support questions, I also know that many of you are not comfortable figuring out the issues to do it yourselves. Yet you continue to invest this way.
You also aren't comfortable properly staying on top of all the things that need to be checked every time something happens with your stocks that affect the cost basis of your hundreds of lots of tiny fractions of shares.
If you don't, you have big issues when you sell them and your bivio information doesn't agree with your broker.
An example of problems that arise is the transferring of DRIP accounts to a broker that you have been discussing here. Unless you make sure the DRIP company doesn't provide Average cost basis for each lot to the receiving broker, you'll have match up issues when you sell shares.
You also don't want to transfer shares and combine them in bivio with DRIP investing you were already doing in the same company with the broker. bivio does not track shares by account they are held in. If you do and you sell or transfer shares in a withdrawal, you need to manually make sure the same shares are chosen in bivio that the broker chose. This is not information provided to us by the broker. It is something you need to edit yourself and it is not easy to do.
Many years ago, the hassle of keeping accurate records for DRIP investments may have been worth the savings in commission costs but that is no longer the case.
In the past, there was no cost basis tracked by the broker to show you when you reported a sale incorrectly.
That is also no longer the case.
Staying fully invested does not mean you need to do automatic Dividend reinvesting. The record keeping problems it causes have caused many clubs to close in frustration and many club treasurers to be miserable. That is very sad since the issues could have been easily avoided by just not doing automatic dividend reinvesting.