Transferring Stocks/Shares with Fidelity
Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
No problems, but I did need a Fidelity representative (from the wealth management team, I think) to facilitate. Some members already had accounts, some created new accounts. All transferred easily. They did have questions for me, verifying that I was authorized to make these transactions.
Anne
On Friday, February 13, 2026, 9:40 AM, Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:
Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
In my response, I did not see that you were transferring to a Schwab account. All my transfers were into Fidelity accounts.
Anne
On Friday, February 13, 2026, 9:40 AM, Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:
Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
IIRC the withdrawing member needed to open a Fidelity account. Once the shares transferred to their Fidelity account, they could transfer them to their Schwab account and close the Fidelity account. I believe most brokers follow this procedure to guard against possible fraud. Once Fidelity vets the recipient through their new account application, the transfer between differently titled accounts occurs under Fidelity's control. The transfer out of Fidelity occurs without an ownership change.
Ira Smilovitz
In my response, I did not see that you were transferring to a Schwab account. All my transfers were into Fidelity accounts.AnneOn Friday, February 13, 2026, 9:40 AM, Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:
Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
What simplifies this is including anything in writing - meeting minutes, details of shares to transfer, details on accounts to transfer to, etc. - with your request. I've found it cuts down on the back and forth for more info.
Michael Boyd
Salt Pond Investment Club
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Anne Weeks via bivio.com
Sent: Friday, February 13, 2026 9:58 AM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Transferring Stocks/Shares with Fidelity
No problems, but I did need a Fidelity representative (from the wealth management team, I think) to facilitate. Some members already had accounts, some created new accounts. All transferred easily. They did have questions for me, verifying that I was authorized to make these transactions.
Anne
On Friday, February 13, 2026, 9:40 AM, Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:
Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
Absolutely. We used to send a formal letter detailing the security, number of shares, purchase date, cost basis (per share and per lot) that we were transferring from our account. Additionally, we provided each member's name, account number, and details of security, number of shares, purchase date, cost basis (per share and per lot) for each recipient.
Recently, we have found that Fidelity's customer support agents can process this over the phone. It takes a bit of back and forth (there are some additional verification/authorization steps), but it works well.
Ira Smilovitz
What simplifies this is including anything in writing - meeting minutes, details of shares to transfer, details on accounts to transfer to, etc. - with your request. I've found it cuts down on the back and forth for more info.
Michael Boyd
Salt Pond Investment Club
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Anne Weeks via bivio.com
Sent: Friday, February 13, 2026 9:58 AM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Transferring Stocks/Shares with Fidelity
No problems, but I did need a Fidelity representative (from the wealth management team, I think) to facilitate. Some members already had accounts, some created new accounts. All transferred easily. They did have questions for me, verifying that I was authorized to make these transactions.
Anne
On Friday, February 13, 2026, 9:40 AM, Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:
Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
Club members cannot transfer shares from a Schwab club account to a personal account or to any 3rd party account. Schwab does not like that they inherited club accounts when they bought TD Ameritrade and expressly discourages them. They say - and this is from the top, "Clubs should meet to discuss stocks and the market. Then invest only in their own personal accounts."
On Fri, Feb 13, 2026 at 6:46 AM Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:
Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
Quote from a top-level Schwab employee:
"Investment clubs are limited to like to like outbound transfers. Most investment clubs at Schwab will open a like registered bank account at an outside institution and move cash out that way. Investment clubs can also open like registered brokerage accounts at outside institutions to facilitate assets movement."
On Sat, Feb 14, 2026 at 2:23 PM Vickie Rabourn <vickie.rabourn@gmail.com> wrote:
Club members cannot transfer shares from a Schwab club account to a personal account or to any 3rd party account. Schwab does not like that they inherited club accounts when they bought TD Ameritrade and expressly discourages them. They say - and this is from the top, "Clubs should meet to discuss stocks and the market. Then invest only in their own personal accounts."On Fri, Feb 13, 2026 at 6:46 AM Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
Thank you Vickie. I'm a little confused however. My question has to do with transferring shares from the Club's brokerage account to a personal brokerage account. For example, transferring shares from a club's Schwab account to a member's personal brokerage account at Schwab or to maybe a Fidelity account. We have no issues transferring cash because we have a registered bank account with Schwab. Transferring cash is a breeze. Once we sell stock and the cash is available in the Schwab account we simply do an online transfer to the club's registered bank account. When that is completed, we write checks for partial or full withdrawals. So, shares transfers, not cash. Hope this helps clarify.
Quote from a top-level Schwab employee:"Investment clubs are limited to like to like outbound transfers. Most investment clubs at Schwab will open a like registered bank account at an outside institution and move cash out that way. Investment clubs can also open like registered brokerage accounts at outside institutions to facilitate assets movement."On Sat, Feb 14, 2026 at 2:23 PM Vickie Rabourn <vickie.rabourn@gmail.com> wrote:Club members cannot transfer shares from a Schwab club account to a personal account or to any 3rd party account. Schwab does not like that they inherited club accounts when they bought TD Ameritrade and expressly discourages them. They say - and this is from the top, "Clubs should meet to discuss stocks and the market. Then invest only in their own personal accounts."On Fri, Feb 13, 2026 at 6:46 AM Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
Confusing. Your response seems to deal with cash transfers and share transfers. Note your two responses. "Investment club's are limited to like outbound transfers..." but your initial response reads "Club members cannot transfer shares from a Schwab account to a personal account..."
Quote from a top-level Schwab employee:"Investment clubs are limited to like to like outbound transfers. Most investment clubs at Schwab will open a like registered bank account at an outside institution and move cash out that way. Investment clubs can also open like registered brokerage accounts at outside institutions to facilitate assets movement."On Sat, Feb 14, 2026 at 2:23 PM Vickie Rabourn <vickie.rabourn@gmail.com> wrote:Club members cannot transfer shares from a Schwab club account to a personal account or to any 3rd party account. Schwab does not like that they inherited club accounts when they bought TD Ameritrade and expressly discourages them. They say - and this is from the top, "Clubs should meet to discuss stocks and the market. Then invest only in their own personal accounts."On Fri, Feb 13, 2026 at 6:46 AM Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
As a club past club treasurer we had problems with Schwab transferring shares to any account. We couldn't transfer to a member with a Schwab account and definitely not some other brokerage like a Fidelity.
We transferred our accounts to fidelity for that reason.
Colleen Goings
Thank you Vickie. I'm a little confused however. My question has to do with transferring shares from the Club's brokerage account to a personal brokerage account. For example, transferring shares from a club's Schwab account to a member's personal brokerage account at Schwab or to maybe a Fidelity account. We have no issues transferring cash because we have a registered bank account with Schwab. Transferring cash is a breeze. Once we sell stock and the cash is available in the Schwab account we simply do an online transfer to the club's registered bank account. When that is completed, we write checks for partial or full withdrawals. So, shares transfers, not cash. Hope this helps clarify.Quote from a top-level Schwab employee:"Investment clubs are limited to like to like outbound transfers. Most investment clubs at Schwab will open a like registered bank account at an outside institution and move cash out that way. Investment clubs can also open like registered brokerage accounts at outside institutions to facilitate assets movement."On Sat, Feb 14, 2026 at 2:23 PM Vickie Rabourn <vickie.rabourn@gmail.com> wrote:Club members cannot transfer shares from a Schwab club account to a personal account or to any 3rd party account. Schwab does not like that they inherited club accounts when they bought TD Ameritrade and expressly discourages them. They say - and this is from the top, "Clubs should meet to discuss stocks and the market. Then invest only in their own personal accounts."On Fri, Feb 13, 2026 at 6:46 AM Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
There are no problems for clubs at Fidelity transferring shares from the club's brokerage account to a personal brokerage account at Fidelity.
See Ira's response on 2/14.
From: club_cafe@bivio.com <club_cafe@bivio.com> on behalf of Colleen Goings via bivio.com <user*15498700001@bivio.com>
Sent: Tuesday, February 17, 2026 8:56 AM
To: club_cafe@bivio.com <club_cafe@bivio.com>
Subject: Re: [club_cafe] Transferring Stocks/Shares with Fidelity
Sent: Tuesday, February 17, 2026 8:56 AM
To: club_cafe@bivio.com <club_cafe@bivio.com>
Subject: Re: [club_cafe] Transferring Stocks/Shares with Fidelity
As a club past club treasurer we had problems with Schwab transferring shares to any account. We couldn't transfer to a member with a Schwab account and definitely not some other brokerage like a Fidelity.
We transferred our accounts to fidelity for that reason.
Colleen Goings
Thank you Vickie. I'm a little confused however. My question has to do with transferring shares from the Club's brokerage account to a personal brokerage account. For example, transferring shares from a club's Schwab account to a member's personal brokerage account at Schwab or to maybe a Fidelity account. We have no issues transferring cash because we have a registered bank account with Schwab. Transferring cash is a breeze. Once we sell stock and the cash is available in the Schwab account we simply do an online transfer to the club's registered bank account. When that is completed, we write checks for partial or full withdrawals. So, shares transfers, not cash. Hope this helps clarify.
Quote from a top-level Schwab employee:"Investment clubs are limited to like to like outbound transfers. Most investment clubs at Schwab will open a like registered bank account at an outside institution and move cash out that way. Investment clubs can also open like registered brokerage accounts at outside institutions to facilitate assets movement."
On Sat, Feb 14, 2026 at 2:23 PM Vickie Rabourn <vickie.rabourn@gmail.com> wrote:
Club members cannot transfer shares from a Schwab club account to a personal account or to any 3rd party account. Schwab does not like that they inherited club accounts when they bought TD Ameritrade and expressly discourages them. They say - and this is from the top, "Clubs should meet to discuss stocks and the market. Then invest only in their own personal accounts."
On Fri, Feb 13, 2026 at 6:46 AM Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:
Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
Thanks Tracy!
On Tue, Feb 17, 2026 at 8:15 AM, Tracy, Molly M via bivio.com<user*40992200001@bivio.com> wrote:
There are no problems for clubs at Fidelity transferring shares from the club's brokerage account to a personal brokerage account at Fidelity.
See Ira's response on 2/14.
From: club_cafe@bivio.com <club_cafe@bivio.com> on behalf of Colleen Goings via bivio.com <user*15498700001@bivio.com>
Sent: Tuesday, February 17, 2026 8:56 AM
To: club_cafe@bivio.com <club_cafe@bivio.com>
Subject: Re: [club_cafe] Transferring Stocks/Shares with Fidelity
Sent: Tuesday, February 17, 2026 8:56 AM
To: club_cafe@bivio.com <club_cafe@bivio.com>
Subject: Re: [club_cafe] Transferring Stocks/Shares with Fidelity
As a club past club treasurer we had problems with Schwab transferring shares to any account. We couldn't transfer to a member with a Schwab account and definitely not some other brokerage like a Fidelity.
We transferred our accounts to fidelity for that reason.
Colleen Goings
Thank you Vickie. I'm a little confused however. My question has to do with transferring shares from the Club's brokerage account to a personal brokerage account. For example, transferring shares from a club's Schwab account to a member's personal brokerage account at Schwab or to maybe a Fidelity account. We have no issues transferring cash because we have a registered bank account with Schwab. Transferring cash is a breeze. Once we sell stock and the cash is available in the Schwab account we simply do an online transfer to the club's registered bank account. When that is completed, we write checks for partial or full withdrawals. So, shares transfers, not cash. Hope this helps clarify.
Quote from a top-level Schwab employee:"Investment clubs are limited to like to like outbound transfers. Most investment clubs at Schwab will open a like registered bank account at an outside institution and move cash out that way. Investment clubs can also open like registered brokerage accounts at outside institutions to facilitate assets movement."
On Sat, Feb 14, 2026 at 2:23 PM Vickie Rabourn <vickie.rabourn@gmail.com> wrote:
Club members cannot transfer shares from a Schwab club account to a personal account or to any 3rd party account. Schwab does not like that they inherited club accounts when they bought TD Ameritrade and expressly discourages them. They say - and this is from the top, "Clubs should meet to discuss stocks and the market. Then invest only in their own personal accounts."
On Fri, Feb 13, 2026 at 6:46 AM Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:
Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
At one point, someone asked about transferring stock shares from Fidelity to an outside brokerage account. Fidelity has 2 possible ways to fulfill that request.
Option 1. (Fidelity's preference) Have the withdrawing member create a Fidelity account. Then go to their outside brokerage (i.e. Schwab) to complete a form to transfer the designated stock shares and cash out of the new Fidelity account to the outside brokerage. Then the withdrawing member closes the Fidelity account after the stock shares and cash are transferred out.
Option 2. (Easier on the withdrawing member) Contact the Transfer of Assets department. Ask TOA to send the treasurer a form (probably a one time withdrawal form) that needs to be completed with the member's outside account information and signed by all signors on the club's Fidelity account (we have 2 signors). Upload the completed form with your club's Operating Procedures and Partnership Agreement.
There are no problems for clubs at Fidelity transferring shares from the club's brokerage account to a personal brokerage account at Fidelity.See Ira's response on 2/14.
From: club_cafe@bivio.com <club_cafe@bivio.com> on behalf of Colleen Goings via bivio.com <user*15498700001@bivio.com>
Sent: Tuesday, February 17, 2026 8:56 AM
To: club_cafe@bivio.com <club_cafe@bivio.com>
Subject: Re: [club_cafe] Transferring Stocks/Shares with FidelityAs a club past club treasurer we had problems with Schwab transferring shares to any account. We couldn't transfer to a member with a Schwab account and definitely not some other brokerage like a Fidelity.
We transferred our accounts to fidelity for that reason.
Colleen Goings
Thank you Vickie. I'm a little confused however. My question has to do with transferring shares from the Club's brokerage account to a personal brokerage account. For example, transferring shares from a club's Schwab account to a member's personal brokerage account at Schwab or to maybe a Fidelity account. We have no issues transferring cash because we have a registered bank account with Schwab. Transferring cash is a breeze. Once we sell stock and the cash is available in the Schwab account we simply do an online transfer to the club's registered bank account. When that is completed, we write checks for partial or full withdrawals. So, shares transfers, not cash. Hope this helps clarify.
Quote from a top-level Schwab employee:"Investment clubs are limited to like to like outbound transfers. Most investment clubs at Schwab will open a like registered bank account at an outside institution and move cash out that way. Investment clubs can also open like registered brokerage accounts at outside institutions to facilitate assets movement."
On Sat, Feb 14, 2026 at 2:23 PM Vickie Rabourn <vickie.rabourn@gmail.com> wrote:
Club members cannot transfer shares from a Schwab club account to a personal account or to any 3rd party account. Schwab does not like that they inherited club accounts when they bought TD Ameritrade and expressly discourages them. They say - and this is from the top, "Clubs should meet to discuss stocks and the market. Then invest only in their own personal accounts."
On Fri, Feb 13, 2026 at 6:46 AM Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:
Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.
Linda Boss
763-550-1962
We have always done what your club does when funds need ot be transferred to a member: Sell shares. Send money to our club account. Cut a check for the member. However, try to transfer shares to a member or cash to their personal account. Schwab will not cooperate. Even if the first three people tell you, "Sure. No problem. Just fill out this form." Not!! The underlings do not understand that the transaction will not go through.
It took us about 8 months to transfer shares to a member's personal brokerage account, and Schwab's upper echelon made it very clear to us that this was a one-time exception that would NEVER again be allowed. You cannot even imagine the number of hoops we had to jump through. It was stressful, exhausting, and frustrating. The withdrawing member even contacted the SEC. That may have been why Schwab finally relented. Let me reiterate: Schwab does NOT want to deal with investment clubs.
Thank you Vickie. I'm a little confused however. My question has to do with transferring shares from the Club's brokerage account to a personal brokerage account. For example, transferring shares from a club's Schwab account to a member's personal brokerage account at Schwab or to maybe a Fidelity account. We have no issues transferring cash because we have a registered bank account with Schwab. Transferring cash is a breeze. Once we sell stock and the cash is available in the Schwab account we simply do an online transfer to the club's registered bank account. When that is completed, we write checks for partial or full withdrawals. So, shares transfers, not cash. Hope this helps clarify.Quote from a top-level Schwab employee:"Investment clubs are limited to like to like outbound transfers. Most investment clubs at Schwab will open a like registered bank account at an outside institution and move cash out that way. Investment clubs can also open like registered brokerage accounts at outside institutions to facilitate assets movement."On Sat, Feb 14, 2026 at 2:23 PM Vickie Rabourn <vickie.rabourn@gmail.com> wrote:Club members cannot transfer shares from a Schwab club account to a personal account or to any 3rd party account. Schwab does not like that they inherited club accounts when they bought TD Ameritrade and expressly discourages them. They say - and this is from the top, "Clubs should meet to discuss stocks and the market. Then invest only in their own personal accounts."On Fri, Feb 13, 2026 at 6:46 AM Kenneth Montgomery via bivio.com <user*32056900001@bivio.com> wrote:Greetings,
For Clubs that have Fidelity as their brokerage, have you run into any problems transferring stocks/shares to individual partners accounts. For further clarity and an example, if a partner has a personal Schwab account, are you able to transfer shares to their personal account in cases of withdrawals and part of a payout? Again, have you run into any problems with Fidelity during the process of transfers?
Thanks.