Closing club
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Closing club Barbara Have you ever transferred stock to a member who has a Schwab account... Our local branch says they will not do. If you have a branch that allows it, would you mind identifying them for reference. Bob Ford From my Kindle On July 9, 2025, at 7:00 AM, "Barbara Preneta via bivio.com" <user*28224800001@bivio.com> wrote: Here is the form that Schwab provided to me to link a bank account to our Schwab account. For members that have Schwab accounts, I think the stock transfer should be easy. The 2 of us that can sign on the account just need to be clear on our instructions to Schwab. Our investment club partnership also was told by Schwab that we could transfer stocks to members ; verified by multiple Schwab representatives; we filled out the forms that Schwab provided for this purpose.
It doesn’t matter; Schwab would not transfer the stocks. They cancelled the transactions. We tried to work with Schwab without success. We then moved all club assets to Fidelity and had the stocks transferred to members within two weeks. So I’ve been watching this string to see if the same thing happens to Barbara. Molly Sent from my iPhone > On Jul 11, 2025, at 3:15 PM, Bob Ford via bivio.com <user*14310900001@bivio.com> wrote: > > Barbara > > Have you ever transferred stock to a member who has a Schwab account... Our local branch says they will not do. If you have a branch that allows it, would you mind identifying them for reference. > > Bob Ford > > From my Kindle > > On July 9, 2025, at 7:00 AM, "Barbara Preneta via bivio.com" <user*28224800001@bivio.com> wrote: > > Here is the form that Schwab provided to me to link a bank > account to our Schwab account. For members that have Schwab > accounts, I think the stock transfer should be easy. The 2 > of us that can sign on the account just need to be clear on > our instructions to Schwab. P. S. In the end they said that they only transfer stocks to an account with the exact ownership title as the account currently holding the assets. So a transfer of stocks from group ownership to individual ownership was not allowed at Schwab.
Sent from my iPhone > On Jul 11, 2025, at 4:02 PM, Tracy, Molly M <mollyt@illinois.edu> wrote: > > Our investment club partnership also was told by Schwab that we could transfer stocks to members ; verified by multiple Schwab representatives; we filled out the forms that Schwab provided for this purpose. > It doesn’t matter; Schwab would not transfer the stocks. They cancelled the transactions. > > We tried to work with Schwab without success. We then moved all club assets to Fidelity and had the stocks transferred to members within two weeks. > > So I’ve been watching this string to see if the same thing happens to Barbara. > > Molly > > > > > Sent from my iPhone > >> On Jul 11, 2025, at 3:15 PM, Bob Ford via bivio.com <user*14310900001@bivio.com> wrote: >> >> Barbara >> >> Have you ever transferred stock to a member who has a Schwab account... Our local branch says they will not do. If you have a branch that allows it, would you mind identifying them for reference. >> >> Bob Ford >> >> From my Kindle >> >> On July 9, 2025, at 7:00 AM, "Barbara Preneta via bivio.com" <user*28224800001@bivio.com> wrote: >> >> Here is the form that Schwab provided to me to link a bank >> account to our Schwab account. For members that have Schwab >> accounts, I think the stock transfer should be easy. The 2 >> of us that can sign on the account just need to be clear on >> our instructions to Schwab. We closed our club in Mass but worked with branch in Providence R.I. They were very helpful. The paper work said it need mediallion stamp but the office said it was not necessary. We did a number of transfers as some of the stocks were brought 2 or 3 times. Bivio breaks it all down for you. Judy Chagnon
On Friday, July 11, 2025 at 04:14:37 PM EDT, Bob Ford via bivio.com <user*14310900001@bivio.com> wrote:
Barbara Have you ever transferred stock to a member who has a Schwab account... Our local branch says they will not do. If you have a branch that allows it, would you mind identifying them for reference. Bob Ford From my Kindle On July 9, 2025, at 7:00 AM, "Barbara Preneta via bivio.com" <user*28224800001@bivio.com> wrote: Here is the form that Schwab provided to me to link a bank account to our Schwab account. For members that have Schwab accounts, I think the stock transfer should be easy. The 2 of us that can sign on the account just need to be clear on our instructions to Schwab. We could not transfer stock to a member with a Schwab account. That is the main reason we moved from Schwab to Fidelity. However, it has been an extremely cumbersome move and we probably should have stayed at Schwab. Barbara |
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