How do I handle a full withdrawal that involves a transfer
of stock and the balance in cash. The stock valuation date
is used for the value of the stock, but the withdrawal date
value is quite different. Can I post the transaction in two
steps with the first step the stock transfer and the next
step being the balance owed after the transfer?
Rebecca Kruse on
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer
of stock and the balance in cash. The stock valuation date
is used for the value of the stock, but the withdrawal date
value is quite different. Can I post the transaction in two
steps with the first step the stock transfer and the next
step being the balance owed after the transfer?
John W Ranby Trustee PGM Cariboo Trust on
Becky:
I would like to comment on a portion of your sentence "The
transaction date is the date the person ceases to be a
member of your club and does not correspond to the date the
shares were transferred or cash was paid."
My understanding is the "transaction date" is the date the
partnership agreement provides for establishing the value of
the partner's share in the partnership. For most partnership
agreements, this date is a month after the resignation is
accepted by the partnership.
I believe the more accurate interpretation of the situation
is that the departing member ceases to be a partner on the
date the resignation is accepted. When the resignation is
accepted, that person transitions from being a partner to
being a creditor. That person no longer is entitled to hold
office, to vote, nor to be held liable for debts of the
partnership incurred after that date. The valuation date is
only significant for the purpose of establishing the
magnitude of the debt owed the former partner and the value
of shares to be transferred; not when the person stops being
a partner.
Is my analysis correct, or have I miss understood something?
Asking to clarify for educational purposes.
Cheers, Jack
Jayne Doyle on
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer
of stock and the balance in cash. The stock valuation date
is used for the value of the stock, but the withdrawal date
value is quite different. Can I post the transaction in two
steps with the first step the stock transfer and the next
step being the balance owed after the transfer?
Vickie Rabourn on
If you have a Schwab account, good luck. They don't transfer shares to a third party. I managed to get it done for one of our members, but it took months, countless phone calls and emails, a letter to the SEC, going to top levels at Schwab. We are still trying to sort out the mess with calculating valuations that changed and dividends that were paid between the time of the resignation and the time of the payout (many months later) because of conflicting ideas between the club, the member, Schwab, and Bivio. The latter has been a godsend. Use Bivio every step of the way and avoid the mess our club got itself into.
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer
of stock and the balance in cash. The stock valuation date
is used for the value of the stock, but the withdrawal date
value is quite different. Can I post the transaction in two
steps with the first step the stock transfer and the next
step being the balance owed after the transfer?
jack on
I am sorry for your experience. However, I transferred shares to a departing partner (it is a partnership legally, not a social club) last month. Delivered the form to Schwab branch on Monday, transfer was complete on Wednesday. I did another one in November 2024 with similar experience.
Obviously, our mileages differed.
Jack Ranby, Treasurer, Grants Partners Investment Club, an Arizona General Partnership (so identified to Schwab)
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Vickie Rabourn via bivio.com Sent: June 14, 2026 11:24 To: club_cafe@bivio.com Subject: Re: [club_cafe] Member full withdrawal in stock transfer and cash
If you have a Schwab account, good luck. They don't transfer shares to a third party. I managed to get it done for one of our members, but it took months, countless phone calls and emails, a letter to the SEC, going to top levels at Schwab. We are still trying to sort out the mess with calculating valuations that changed and dividends that were paid between the time of the resignation and the time of the payout (many months later) because of conflicting ideas between the club, the member, Schwab, and Bivio. The latter has been a godsend. Use Bivio every step of the way and avoid the mess our club got itself into.
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer of stock and the balance in cash. The stock valuation date is used for the value of the stock, but the withdrawal date value is quite different. Can I post the transaction in two steps with the first step the stock transfer and the next step being the balance owed after the transfer?
Vickie Rabourn on
We also have a partnership, Jack. I'm so glad your experience was completely different from our own. That form is only for transferring from one Schwab account to another. The difference between our two experiences is that our member insisted that her shares be transferred to her ETrade account.
On Sun, Jun 14, 2026 at 12:03â¯PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:
I am sorry for your experience. However, I transferred shares to a departing partner (it is a partnership legally, not a social club) last month. Delivered the form to Schwab branch on Monday, transfer was complete on Wednesday. I did another one in November 2024 with similar experience.
Obviously, our mileages differed.
Jack Ranby, Treasurer, Grants Partners Investment Club, an Arizona General Partnership (so identified to Schwab)
If you have a Schwab account, good luck. They don't transfer shares to a third party. I managed to get it done for one of our members, but it took months, countless phone calls and emails, a letter to the SEC, going to top levels at Schwab. We are still trying to sort out the mess with calculating valuations that changed and dividends that were paid between the time of the resignation and the time of the payout (many months later) because of conflicting ideas between the club, the member, Schwab, and Bivio. The latter has been a godsend. Use Bivio every step of the way and avoid the mess our club got itself into.
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer of stock and the balance in cash. The stock valuation date is used for the value of the stock, but the withdrawal date value is quite different. Can I post the transaction in two steps with the first step the stock transfer and the next step being the balance owed after the transfer?
mp on
Forgive the intrusion, but if Schwab will simply agree to an internal transfer with whatever form that is, why not do that? Once your member has their assets in an account titled in their name, those assets are extremely portable. At that point, an in-kind ACATS from Schwab to ETrade is trivial for them. And, importantly, not the club's problem anymore.
We also have a partnership, Jack. I'm so glad your experience was completely different from our own. That form is only for transferring from one Schwab account to another. The difference between our two experiences is that our member insisted that her shares be transferred to her ETrade account.
On Sun, Jun 14, 2026 at 12:03â¯PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:
I am sorry for your experience. However, I transferred shares to a departing partner (it is a partnership legally, not a social club) last month. Delivered the form to Schwab branch on Monday, transfer was complete on Wednesday. I did another one in November 2024 with similar experience.
Obviously, our mileages differed.
Jack Ranby, Treasurer, Grants Partners Investment Club, an Arizona General Partnership (so identified to Schwab)
If you have a Schwab account, good luck. They don't transfer shares to a third party. I managed to get it done for one of our members, but it took months, countless phone calls and emails, a letter to the SEC, going to top levels at Schwab. We are still trying to sort out the mess with calculating valuations that changed and dividends that were paid between the time of the resignation and the time of the payout (many months later) because of conflicting ideas between the club, the member, Schwab, and Bivio. The latter has been a godsend. Use Bivio every step of the way and avoid the mess our club got itself into.
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer of stock and the balance in cash. The stock valuation date is used for the value of the stock, but the withdrawal date value is quite different. Can I post the transaction in two steps with the first step the stock transfer and the next step being the balance owed after the transfer?
sharon kulkis on
Our club was legally set up as a partnership as identified by our IRS filings, however, we had used the words "investment Club" as art of out name. Therefore Schwab would not recognize us as a partnership. I don't know if or how a name change could be done for an existing partnership but if you are just starting an investment Club, don't use the word club in your legal name. For example the if the WISE Investment Club had named their "club" The WISE Investment Partners, according to what Schwab had told me, there would be no problem with transfers to partners.
Forgive the intrusion, but if Schwab will simply agree to an internal transfer with whatever form that is, why not do that? Once your member has their assets in an account titled in their name, those assets are extremely portable. At that point, an in-kind ACATS from Schwab to ETrade is trivial for them. And, importantly, not the club's problem anymore.
We also have a partnership, Jack. I'm so glad your experience was completely different from our own. That form is only for transferring from one Schwab account to another. The difference between our two experiences is that our member insisted that her shares be transferred to her ETrade account.
On Sun, Jun 14, 2026 at 12:03â¯PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:
I am sorry for your experience. However, I transferred shares to a departing partner (it is a partnership legally, not a social club) last month. Delivered the form to Schwab branch on Monday, transfer was complete on Wednesday. I did another one in November 2024 with similar experience.
Obviously, our mileages differed.
Jack Ranby, Treasurer, Grants Partners Investment Club, an Arizona General Partnership (so identified to Schwab)
If you have a Schwab account, good luck. They don't transfer shares to a third party. I managed to get it done for one of our members, but it took months, countless phone calls and emails, a letter to the SEC, going to top levels at Schwab. We are still trying to sort out the mess with calculating valuations that changed and dividends that were paid between the time of the resignation and the time of the payout (many months later) because of conflicting ideas between the club, the member, Schwab, and Bivio. The latter has been a godsend. Use Bivio every step of the way and avoid the mess our club got itself into.
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer of stock and the balance in cash. The stock valuation date is used for the value of the stock, but the withdrawal date value is quite different. Can I post the transaction in two steps with the first step the stock transfer and the next step being the balance owed after the transfer?
Vickie Rabourn on
It's been the club's problem because the member insisted on her shares being transferred to her ETrade account. It took months on end and all the way to the top to get this accomplished and Schwab stated that it was a one time deal, never to be repeated. The member left in May 2025. Water under the bridge.
Forgive the intrusion, but if Schwab will simply agree to an internal transfer with whatever form that is, why not do that? Once your member has their assets in an account titled in their name, those assets are extremely portable. At that point, an in-kind ACATS from Schwab to ETrade is trivial for them. And, importantly, not the club's problem anymore.
We also have a partnership, Jack. I'm so glad your experience was completely different from our own. That form is only for transferring from one Schwab account to another. The difference between our two experiences is that our member insisted that her shares be transferred to her ETrade account.
On Sun, Jun 14, 2026 at 12:03â¯PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:
I am sorry for your experience. However, I transferred shares to a departing partner (it is a partnership legally, not a social club) last month. Delivered the form to Schwab branch on Monday, transfer was complete on Wednesday. I did another one in November 2024 with similar experience.
Obviously, our mileages differed.
Jack Ranby, Treasurer, Grants Partners Investment Club, an Arizona General Partnership (so identified to Schwab)
If you have a Schwab account, good luck. They don't transfer shares to a third party. I managed to get it done for one of our members, but it took months, countless phone calls and emails, a letter to the SEC, going to top levels at Schwab. We are still trying to sort out the mess with calculating valuations that changed and dividends that were paid between the time of the resignation and the time of the payout (many months later) because of conflicting ideas between the club, the member, Schwab, and Bivio. The latter has been a godsend. Use Bivio every step of the way and avoid the mess our club got itself into.
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer of stock and the balance in cash. The stock valuation date is used for the value of the stock, but the withdrawal date value is quite different. Can I post the transaction in two steps with the first step the stock transfer and the next step being the balance owed after the transfer?
Vickie Rabourn on
Ours is titled "Women's Investment Club (WIN)." That made our situation trickier. Schwab discourages business with investment clubs and does not allow any new ones to register with them. We were grandfathered in from TD Ameritrade. Schwab suggests that clubs form to meet, talk, learn, and invest their money independently in separate accounts. Still, we are a partnership.
Our club was legally set up as a partnership as identified by our IRS filings, however, we had used the words "investment Club" as art of out name. Therefore Schwab would not recognize us as a partnership. I don't know if or how a name change could be done for an existing partnership but if you are just starting an investment Club, don't use the word club in your legal name. For example the if the WISE Investment Club had named their "club" The WISE Investment Partners, according to what Schwab had told me, there would be no problem with transfers to partners.
Forgive the intrusion, but if Schwab will simply agree to an internal transfer with whatever form that is, why not do that? Once your member has their assets in an account titled in their name, those assets are extremely portable. At that point, an in-kind ACATS from Schwab to ETrade is trivial for them. And, importantly, not the club's problem anymore.
We also have a partnership, Jack. I'm so glad your experience was completely different from our own. That form is only for transferring from one Schwab account to another. The difference between our two experiences is that our member insisted that her shares be transferred to her ETrade account.
On Sun, Jun 14, 2026 at 12:03â¯PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:
I am sorry for your experience. However, I transferred shares to a departing partner (it is a partnership legally, not a social club) last month. Delivered the form to Schwab branch on Monday, transfer was complete on Wednesday. I did another one in November 2024 with similar experience.
Obviously, our mileages differed.
Jack Ranby, Treasurer, Grants Partners Investment Club, an Arizona General Partnership (so identified to Schwab)
If you have a Schwab account, good luck. They don't transfer shares to a third party. I managed to get it done for one of our members, but it took months, countless phone calls and emails, a letter to the SEC, going to top levels at Schwab. We are still trying to sort out the mess with calculating valuations that changed and dividends that were paid between the time of the resignation and the time of the payout (many months later) because of conflicting ideas between the club, the member, Schwab, and Bivio. The latter has been a godsend. Use Bivio every step of the way and avoid the mess our club got itself into.
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer of stock and the balance in cash. The stock valuation date is used for the value of the stock, but the withdrawal date value is quite different. Can I post the transaction in two steps with the first step the stock transfer and the next step being the balance owed after the transfer?
Vickie Rabourn on
Oops. That should have read Women's Investment Network (WIN), not Women's Investment Club.
Ours is titled "Women's Investment Club (WIN)." That made our situation trickier. Schwab discourages business with investment clubs and does not allow any new ones to register with them. We were grandfathered in from TD Ameritrade. Schwab suggests that clubs form to meet, talk, learn, and invest their money independently in separate accounts. Still, we are a partnership.
Our club was legally set up as a partnership as identified by our IRS filings, however, we had used the words "investment Club" as art of out name. Therefore Schwab would not recognize us as a partnership. I don't know if or how a name change could be done for an existing partnership but if you are just starting an investment Club, don't use the word club in your legal name. For example the if the WISE Investment Club had named their "club" The WISE Investment Partners, according to what Schwab had told me, there would be no problem with transfers to partners.
Forgive the intrusion, but if Schwab will simply agree to an internal transfer with whatever form that is, why not do that? Once your member has their assets in an account titled in their name, those assets are extremely portable. At that point, an in-kind ACATS from Schwab to ETrade is trivial for them. And, importantly, not the club's problem anymore.
We also have a partnership, Jack. I'm so glad your experience was completely different from our own. That form is only for transferring from one Schwab account to another. The difference between our two experiences is that our member insisted that her shares be transferred to her ETrade account.
On Sun, Jun 14, 2026 at 12:03â¯PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:
I am sorry for your experience. However, I transferred shares to a departing partner (it is a partnership legally, not a social club) last month. Delivered the form to Schwab branch on Monday, transfer was complete on Wednesday. I did another one in November 2024 with similar experience.
Obviously, our mileages differed.
Jack Ranby, Treasurer, Grants Partners Investment Club, an Arizona General Partnership (so identified to Schwab)
If you have a Schwab account, good luck. They don't transfer shares to a third party. I managed to get it done for one of our members, but it took months, countless phone calls and emails, a letter to the SEC, going to top levels at Schwab. We are still trying to sort out the mess with calculating valuations that changed and dividends that were paid between the time of the resignation and the time of the payout (many months later) because of conflicting ideas between the club, the member, Schwab, and Bivio. The latter has been a godsend. Use Bivio every step of the way and avoid the mess our club got itself into.
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer of stock and the balance in cash. The stock valuation date is used for the value of the stock, but the withdrawal date value is quite different. Can I post the transaction in two steps with the first step the stock transfer and the next step being the balance owed after the transfer?
Vickie Rabourn on
The transfer process is not trivial for Schwab at all, Michael. Just read on about others' experiences. Schwab does not want our business. Period. I will again contact the Complex Account Manager and ask him to explain exactly how one transfers shares to a member's individual Schwab account and see if it's something they'll do now without hoops that take months to jump through. As for transferring to accounts beyond the Schwab realm, forget about it. It would wiser to dissolve the investment group rather than go through what we did.
Forgive the intrusion, but if Schwab will simply agree to an internal transfer with whatever form that is, why not do that? Once your member has their assets in an account titled in their name, those assets are extremely portable. At that point, an in-kind ACATS from Schwab to ETrade is trivial for them. And, importantly, not the club's problem anymore.
We also have a partnership, Jack. I'm so glad your experience was completely different from our own. That form is only for transferring from one Schwab account to another. The difference between our two experiences is that our member insisted that her shares be transferred to her ETrade account.
On Sun, Jun 14, 2026 at 12:03â¯PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:
I am sorry for your experience. However, I transferred shares to a departing partner (it is a partnership legally, not a social club) last month. Delivered the form to Schwab branch on Monday, transfer was complete on Wednesday. I did another one in November 2024 with similar experience.
Obviously, our mileages differed.
Jack Ranby, Treasurer, Grants Partners Investment Club, an Arizona General Partnership (so identified to Schwab)
If you have a Schwab account, good luck. They don't transfer shares to a third party. I managed to get it done for one of our members, but it took months, countless phone calls and emails, a letter to the SEC, going to top levels at Schwab. We are still trying to sort out the mess with calculating valuations that changed and dividends that were paid between the time of the resignation and the time of the payout (many months later) because of conflicting ideas between the club, the member, Schwab, and Bivio. The latter has been a godsend. Use Bivio every step of the way and avoid the mess our club got itself into.
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer of stock and the balance in cash. The stock valuation date is used for the value of the stock, but the withdrawal date value is quite different. Can I post the transaction in two steps with the first step the stock transfer and the next step being the balance owed after the transfer?
mp on
I hear your frustration with Schwab. Sounds quite annoying.
To be clear though, an ACATS transfer is initiated and validated by the receiving broker, not the delivering broker. If Schwab permits, as the OP says, an internal transfer from the Schwab partnership account to an individual Schwab account, that effectively severs the connection of the assets to the original partnership account. At that point, the outgoing ACATS request comes from the individual account holder's receiving broker, assets are transferred in kind without tax impact, and as long as the title and TIN match, Schwab would have no basis to object.
The transfer process is not trivial for Schwab at all, Michael. Just read on about others' experiences. Schwab does not want our business. Period. I will again contact the Complex Account Manager and ask him to explain exactly how one transfers shares to a member's individual Schwab account and see if it's something they'll do now without hoops that take months to jump through. As for transferring to accounts beyond the Schwab realm, forget about it. It would wiser to dissolve the investment group rather than go through what we did.
Forgive the intrusion, but if Schwab will simply agree to an internal transfer with whatever form that is, why not do that? Once your member has their assets in an account titled in their name, those assets are extremely portable. At that point, an in-kind ACATS from Schwab to ETrade is trivial for them. And, importantly, not the club's problem anymore.
We also have a partnership, Jack. I'm so glad your experience was completely different from our own. That form is only for transferring from one Schwab account to another. The difference between our two experiences is that our member insisted that her shares be transferred to her ETrade account.
On Sun, Jun 14, 2026 at 12:03â¯PM John W Ranby Trustee PGM Cariboo Trust via bivio.com <user*15792700001@bivio.com> wrote:
I am sorry for your experience. However, I transferred shares to a departing partner (it is a partnership legally, not a social club) last month. Delivered the form to Schwab branch on Monday, transfer was complete on Wednesday. I did another one in November 2024 with similar experience.
Obviously, our mileages differed.
Jack Ranby, Treasurer, Grants Partners Investment Club, an Arizona General Partnership (so identified to Schwab)
If you have a Schwab account, good luck. They don't transfer shares to a third party. I managed to get it done for one of our members, but it took months, countless phone calls and emails, a letter to the SEC, going to top levels at Schwab. We are still trying to sort out the mess with calculating valuations that changed and dividends that were paid between the time of the resignation and the time of the payout (many months later) because of conflicting ideas between the club, the member, Schwab, and Bivio. The latter has been a godsend. Use Bivio every step of the way and avoid the mess our club got itself into.
Thank you for this clear description re Withdrawals.
We are writing from the WISE Investment club in the Chicago area thriving for 30 years.
We have adapted BI recommendations into our club withdrawal procedures and are trying to follow it.
We would still like the opportunity of hearing more about the process and asking questions, about tax implications in particular.
We are wondering if you would ever consider doing a Zoom presentation about withdrawals for our club meeting some time this year.
Thank you so much for all you do.
Elizabeth Monk, WISE VP/Education Officer
Jayne Doyle, WISE Founding Mother
On Monday, June 8, 2026 at 04:35:48 PM CDT, Rebecca Kruse <kruse@bivio.biz> wrote:
The member's account and also the shares they receive are all valued as of the withdrawal valuation date. This fixes the number of shares andvalue of the stock and determines the exact cash amount owed. Ignore any subsequent increase or decrease in share prices that may be shown on your broker transfer confirmations or statement. It is best to transfer shares as soon after the withdrawal valuation date as possible. The transaction date is the date the person ceases to be a member of your club and does not correspond to the date the shares were transferred or cash was paid.
Always complete the bivio member withdrawal form first to determine exact amounts before transferring or paying anything to anyone. Review the withdrawal report carefully and pay the member the amount listed on the "Cash" line of the withdrawal report. If you want to pay the member in two parts (first transfer shares and later write the check), use a Pending Withdrawals bivio account to track the outstanding cash amount. Select the Pending Withdrawals account when you enter the full withdrawal. Later, after the check is cashed or the funds are transferred, select "transfer" in bivio and move the cash amount from your Bank or Broker account to Pending Withdrawals.
How do I handle a full withdrawal that involves a transfer of stock and the balance in cash. The stock valuation date is used for the value of the stock, but the withdrawal date value is quite different. Can I post the transaction in two steps with the first step the stock transfer and the next step being the balance owed after the transfer?