Greetings! Just recently discovered that Schwab does not transfer stocks to an individual or partner's personal brokerage. Although our by-laws stipulate the option of stock transfers or cash, we just discovered that Schwab won't do that. In all the years we have had Schwab since it's buyout of TD Ameritrade we have done withdrawal request with cash and selling of stock. We have been in existence for over 20 years and some of the partners are considering stock transfer instead of cash which can be an advantage for clubs.
At this point we are considering switching to Fidelity. Any club with Fidelity, have you had any experience or issues transferring stock to a withdrawing partner? Any comments greatly appreciated. Thanks!
Scott Stambaugh on
We just transferred our account from Schwab to Fidelity for that exact reason. The transfer happened just about 20 days ago so we have not had to utilize the stock transfer yet for a member leaving our club.
So unfortunately I cannot tell you how the process of transferring stock to a member works.
But, the process to move club accounts was time consuming as you would expect. I began the process in January. We had to clean up our partnership agreement and other documents which takes time when you only meet monthly.
As far as Bivio it was very easy to switch and things are syncing well with Fidelity.
Greetings! Just recently discovered that Schwab does not transfer stocks to an individual or partner's personal brokerage. Although our by-laws stipulate the option of stock transfers or cash, we just discovered that Schwab won't do that. In all the years we have had Schwab since it's buyout of TD Ameritrade we have done withdrawal request with cash and selling of stock. We have been in existence for over 20 years and some of the partners are considering stock transfer instead of cash which can be an advantage for clubs.
At this point we are considering switching to Fidelity. Any club with Fidelity, have you had any experience or issues transferring stock to a withdrawing partner? Any comments greatly appreciated. Thanks!
Tracy, Molly M on
We transferred all of our club holdings from Schwab to Fidelity and then transferred multiple club stock holdings to individual accounts of four departing club members. Working with Fidelity was a breeze and we encountered no problems whatsoever.
Molly
Sent from my iPhone
On Sep 25, 2025, at 11:05 AM, Scott Stambaugh via bivio.com <user*25844000001@bivio.com> wrote:
We just transferred our account from Schwab to Fidelity for that exact reason. The transfer happened just about 20 days ago so we have not had to utilize the stock transfer yet for a member leaving our club.
So unfortunately I cannot tell you how the process of transferring stock to a member works.
But, the process to move club accounts was time consuming as you would expect. I began the process in January. We had to clean up our partnership agreement and other documents which takes time when you only meet monthly.
As far as Bivio it was very easy to switch and things are syncing well with Fidelity.
Greetings! Just recently discovered that Schwab does not transfer stocks to an individual or partner's personal brokerage. Although our by-laws stipulate the option of stock transfers or cash, we just discovered that Schwab won't do that. In all the years we
have had Schwab since it's buyout of TD Ameritrade we have done withdrawal request with cash and selling of stock. We have been in existence for over 20 years and some of the partners are considering stock transfer instead of cash which can be an advantage
for clubs.
At this point we are considering switching to Fidelity. Any club with Fidelity, have you had any experience or issues transferring stock to a withdrawing partner? Any comments greatly appreciated. Thanks!
David Karbulka on
Transferring stocks to a partner with Fidelity is a breeze and even easier if they have their personal account with Fidelity as well.
The whole process for creating a personal account takes less than 10 minutes and is a requirement for our club to simplify the process in the future.
We just transferred our account from Schwab to Fidelity for that exact reason. The transfer happened just about 20 days ago so we have not had to utilize the stock transfer yet for a member leaving our club.
So unfortunately I cannot tell you how the process of transferring stock to a member works.
But, the process to move club accounts was time consuming as you would expect. I began the process in January. We had to clean up our partnership agreement and other documents which takes time when you only meet monthly.
As far as Bivio it was very easy to switch and things are syncing well with Fidelity.
Greetings! Just recently discovered that Schwab does not transfer stocks to an individual or partner's personal brokerage. Although our by-laws stipulate the option of stock transfers or cash, we just discovered that Schwab won't do that. In all the years we have had Schwab since it's buyout of TD Ameritrade we have done withdrawal request with cash and selling of stock. We have been in existence for over 20 years and some of the partners are considering stock transfer instead of cash which can be an advantage for clubs.
At this point we are considering switching to Fidelity. Any club with Fidelity, have you had any experience or issues transferring stock to a withdrawing partner? Any comments greatly appreciated. Thanks!
Michael Wainer on
We have been with Schwab for a few years (since forced to do so when TD Ameritrade closed). We have sold stock and gave members partial withdrawals a few times. We also have transfered stocks to a member from our Schwab club account to the members Schwab
personal account. No issues with either process.
Michael Wainer
From: club_cafe@bivio.com <club_cafe@bivio.com> on behalf of David Karbulka via bivio.com <user*26468500001@bivio.com> Sent: Thursday, September 25, 2025 1:12 PM To: club_cafe@bivio.com <club_cafe@bivio.com> Subject: Re: [club_cafe] Charles Schwab and Stock Transfers
Transferring stocks to a partner with Fidelity is a breeze and even easier if they have their personal account with Fidelity as well.
The whole process for creating a personal account takes less than 10 minutes and is a requirement for our club to simplify the process in the future.
We just transferred our account from Schwab to Fidelity for that exact reason. The transfer happened just about 20 days ago so we have not had to utilize the stock transfer yet for a member leaving our club.
So unfortunately I cannot tell you how the process of transferring stock to a member works.
But, the process to move club accounts was time consuming as you would expect. I began the process in January. We had to clean up our partnership agreement and other documents which takes time when you only meet monthly.
As far as Bivio it was very easy to switch and things are syncing well with Fidelity.
Greetings! Just recently discovered that Schwab does not transfer stocks to an individual or partner's personal brokerage. Although our by-laws stipulate the option of stock transfers or cash, we just discovered that Schwab won't do that. In all the years we
have had Schwab since it's buyout of TD Ameritrade we have done withdrawal request with cash and selling of stock. We have been in existence for over 20 years and some of the partners are considering stock transfer instead of cash which can be an advantage
for clubs.
At this point we are considering switching to Fidelity. Any club with Fidelity, have you had any experience or issues transferring stock to a withdrawing partner? Any comments greatly appreciated. Thanks!
Lynda Feit on
After Schwab bought TDA, we were told Schwab did not allow stock transfers to members. Through a long line of club cafe email strings it appeared that some Schwab Clubs were allowed to do this, while others were not. No one at Schwab could explain why that was so, some even denied it was true. One Schwab person told me it allowed for older accounts, but not for newer accounts, but they were clear we could NOT do this. So... we switched to Fidelity in mid-2024. We had each Club member open a personal Fidelity account, and shortly thereafter made a stock transfers to the majority of our members. It went smoothly, no issues. Haven't done another one since then.
We have been with Schwab for a few years (since forced to do so when TD Ameritrade closed). We have sold stock and gave members partial withdrawals a few times. We also have transfered stocks to a member from our Schwab club account to the members Schwab
personal account. No issues with either process.
We just transferred our account from Schwab to Fidelity for that exact reason. The transfer happened just about 20 days ago so we have not had to utilize the stock transfer yet for a member leaving our club.
So unfortunately I cannot tell you how the process of transferring stock to a member works.
But, the process to move club accounts was time consuming as you would expect. I began the process in January. We had to clean up our partnership agreement and other documents which takes time when you only meet monthly.
As far as Bivio it was very easy to switch and things are syncing well with Fidelity.
Greetings! Just recently discovered that Schwab does not transfer stocks to an individual or partner's personal brokerage. Although our by-laws stipulate the option of stock transfers or cash, we just discovered that Schwab won't do that. In all the years we
have had Schwab since it's buyout of TD Ameritrade we have done withdrawal request with cash and selling of stock. We have been in existence for over 20 years and some of the partners are considering stock transfer instead of cash which can be an advantage
for clubs.
At this point we are considering switching to Fidelity. Any club with Fidelity, have you had any experience or issues transferring stock to a withdrawing partner? Any comments greatly appreciated. Thanks!
Peter Dunkelberger on
If you had allowed each member to open a personal Schwab account, your club, too, could have transferred stocks to members.
After Schwab bought TDA, we were told Schwab did not allow stock transfers to members. Through a long line of club cafe email strings it appeared that some Schwab Clubs were allowed to do this, while others were not. No one at Schwab could explain why that was so, some even denied it was true. One Schwab person told me it allowed for older accounts, but not for newer accounts, but they were clear we could NOT do this. So... we switched to Fidelity in mid-2024. We had each Club member open a personal Fidelity account, and shortly thereafter made a stock transfers to the majority of our members. It went smoothly, no issues. Haven't done another one since then.
We have been with Schwab for a few years (since forced to do so when TD Ameritrade closed). We have sold stock and gave members partial withdrawals a few times. We also have transfered stocks to a member from our Schwab club account to the members Schwab
personal account. No issues with either process.
We just transferred our account from Schwab to Fidelity for that exact reason. The transfer happened just about 20 days ago so we have not had to utilize the stock transfer yet for a member leaving our club.
So unfortunately I cannot tell you how the process of transferring stock to a member works.
But, the process to move club accounts was time consuming as you would expect. I began the process in January. We had to clean up our partnership agreement and other documents which takes time when you only meet monthly.
As far as Bivio it was very easy to switch and things are syncing well with Fidelity.
Greetings! Just recently discovered that Schwab does not transfer stocks to an individual or partner's personal brokerage. Although our by-laws stipulate the option of stock transfers or cash, we just discovered that Schwab won't do that. In all the years we
have had Schwab since it's buyout of TD Ameritrade we have done withdrawal request with cash and selling of stock. We have been in existence for over 20 years and some of the partners are considering stock transfer instead of cash which can be an advantage
for clubs.
At this point we are considering switching to Fidelity. Any club with Fidelity, have you had any experience or issues transferring stock to a withdrawing partner? Any comments greatly appreciated. Thanks!
Lynda Feit on
Hi Peter,
At the time, I asked if we could do that, and I was told individuals can open personal accts, but I still could not transfer shares from the Club. I know, it sounds ridiculous.
And I will say, I have personal accounts with Schwab, and have never encountered anything like this, so I thought of that (your suggestion) first thing. It's all water under the bridge now, but it was so very frustrating when we went through it over a year ago.
After Schwab bought TDA, we were told Schwab did not allow stock transfers to members. Through a long line of club cafe email strings it appeared that some Schwab Clubs were allowed to do this, while others were not. No one at Schwab could explain why that was so, some even denied it was true. One Schwab person told me it allowed for older accounts, but not for newer accounts, but they were clear we could NOT do this. So... we switched to Fidelity in mid-2024. We had each Club member open a personal Fidelity account, and shortly thereafter made a stock transfers to the majority of our members. It went smoothly, no issues. Haven't done another one since then.
We have been with Schwab for a few years (since forced to do so when TD Ameritrade closed). We have sold stock and gave members partial withdrawals a few times. We also have transfered stocks to a member from our Schwab club account to the members Schwab
personal account. No issues with either process.
We just transferred our account from Schwab to Fidelity for that exact reason. The transfer happened just about 20 days ago so we have not had to utilize the stock transfer yet for a member leaving our club.
So unfortunately I cannot tell you how the process of transferring stock to a member works.
But, the process to move club accounts was time consuming as you would expect. I began the process in January. We had to clean up our partnership agreement and other documents which takes time when you only meet monthly.
As far as Bivio it was very easy to switch and things are syncing well with Fidelity.
Greetings! Just recently discovered that Schwab does not transfer stocks to an individual or partner's personal brokerage. Although our by-laws stipulate the option of stock transfers or cash, we just discovered that Schwab won't do that. In all the years we
have had Schwab since it's buyout of TD Ameritrade we have done withdrawal request with cash and selling of stock. We have been in existence for over 20 years and some of the partners are considering stock transfer instead of cash which can be an advantage
for clubs.
At this point we are considering switching to Fidelity. Any club with Fidelity, have you had any experience or issues transferring stock to a withdrawing partner? Any comments greatly appreciated. Thanks!
Barbara Preneta on
We are disbanding and did our withdrawals in bivio
yesterday. We also did the Schwab paperwork, filling in info
about lots, who gets what, etc. We had 20 shares of Otis, 3
lots with 2 which included half shares. Bivio dealt with
this just fine. The treasurer wrote checks for the remaining
cash. The person at Schwab accepted the paperwork, but then
I got an e-mail asking me to call Schwab. They will not
transfer the 3.5 and 12.5 share lots which we got from a
spinoff. I can give 1/2 share to the member with the other
1/2 share lot, even telling them on the phone to do that!
This messes up the bivio transactions, for 2 members, the
valuation, etc. It involves less than $40. What to do?
We are disbanding and did our withdrawals in bivio
yesterday. We also did the Schwab paperwork, filling in info
about lots, who gets what, etc. We had 20 shares of Otis, 3
lots with 2 which included half shares. Bivio dealt with
this just fine. The treasurer wrote checks for the remaining
cash. The person at Schwab accepted the paperwork, but then
I got an e-mail asking me to call Schwab. They will not
transfer the 3.5 and 12.5 share lots which we got from a
spinoff. I can give 1/2 share to the member with the other
1/2 share lot, even telling them on the phone to do that!
This messes up the bivio transactions, for 2 members, the
valuation, etc. It involves less than $40. What to do?
Genie Shoffey on
Fidelity is same as Schwab, partners create a personal Schwab account there, that can be used to receive stocks and cash transfers from club account. Member may also use the personal acct to transfer money to pay regular or extra contributions to the club account. You may also set the payment up for auto pay- monthly, quarterly, whatever.
We just transferred our account from Schwab to Fidelity for that exact reason. The transfer happened just about 20 days ago so we have not had to utilize the stock transfer yet for a member leaving our club.
So unfortunately I cannot tell you how the process of transferring stock to a member works.
But, the process to move club accounts was time consuming as you would expect. I began the process in January. We had to clean up our partnership agreement and other documents which takes time when you only meet monthly.
As far as Bivio it was very easy to switch and things are syncing well with Fidelity.
Greetings! Just recently discovered that Schwab does not transfer stocks to an individual or partner's personal brokerage. Although our by-laws stipulate the option of stock transfers or cash, we just discovered that Schwab won't do that. In all the years we have had Schwab since it's buyout of TD Ameritrade we have done withdrawal request with cash and selling of stock. We have been in existence for over 20 years and some of the partners are considering stock transfer instead of cash which can be an advantage for clubs.
At this point we are considering switching to Fidelity. Any club with Fidelity, have you had any experience or issues transferring stock to a withdrawing partner? Any comments greatly appreciated. Thanks!
Dan Cohn on
My club in Atlanta went thru Schwab not distributing stock 2 years ago right after they stopped giving data to Bivio. We found they were not club friendly although a number of our members had personal accounts with them.
Did find that it was not the same across our big country!!!
Fidelity has done very nicely with us.
Dan Cohn
Treasurer
NAMC investment club #3
Sent from my iPhone
On Sep 26, 2025, at 3:53 PM, Genie Shoffey via bivio.com <user*15744200001@bivio.com> wrote:
Fidelity is same as Schwab, partners create a personal Schwab account there, that can be used to receive stocks and cash transfers from club account. Member may also use the personal acct to transfer money to pay regular or extra contributions to the club account. You may also set the payment up for auto pay- monthly, quarterly, whatever.
We just transferred our account from Schwab to Fidelity for that exact reason. The transfer happened just about 20 days ago so we have not had to utilize the stock transfer yet for a member leaving our club.
So unfortunately I cannot tell you how the process of transferring stock to a member works.
But, the process to move club accounts was time consuming as you would expect. I began the process in January. We had to clean up our partnership agreement and other documents which takes time when you only meet monthly.
As far as Bivio it was very easy to switch and things are syncing well with Fidelity.
Greetings! Just recently discovered that Schwab does not transfer stocks to an individual or partner's personal brokerage. Although our by-laws stipulate the option of stock transfers or cash, we just discovered that Schwab won't do that. In all the years we have had Schwab since it's buyout of TD Ameritrade we have done withdrawal request with cash and selling of stock. We have been in existence for over 20 years and some of the partners are considering stock transfer instead of cash which can be an advantage for clubs.
At this point we are considering switching to Fidelity. Any club with Fidelity, have you had any experience or issues transferring stock to a withdrawing partner? Any comments greatly appreciated. Thanks!
Tracy, Molly M on
You can redo the Bivio withdrawals but you might have additional problems with Schwab transferring shares.
We had the same problems as you at the beginning , but unfortunately in the end , Schwab refused to do any stock transfers to accounts not titled exactly the same as the club account.
Then, once until the stocks transfers were complete ( which included moving our portfolio to Fidelity due to the issues with transfers at Schwab) we gave each departing member a complete accounting and a check for the cash portion.
Sent from my iPhone
> On Sep 26, 2025, at 2:32â¯PM, Barbara Preneta via bivio.com <user*28224800001@bivio.com> wrote:
>
> We are disbanding and did our withdrawals in bivio
> yesterday. We also did the Schwab paperwork, filling in info
> about lots, who gets what, etc. We had 20 shares of Otis, 3
> lots with 2 which included half shares. Bivio dealt with
> this just fine. The treasurer wrote checks for the remaining
> cash. The person at Schwab accepted the paperwork, but then
> I got an e-mail asking me to call Schwab. They will not
> transfer the 3.5 and 12.5 share lots which we got from a
> spinoff. I can give 1/2 share to the member with the other
> 1/2 share lot, even telling them on the phone to do that!
> This messes up the bivio transactions, for 2 members, the
> valuation, etc. It involves less than $40. What to do?