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I am charging in my financial planning fee for time and effort to work with Computershare. You never want a client to die with them holding the stock. Best to transfer to brokerage with TOD
2% to reissue Certs? But what if you don’t want the Certs? Why can’t they just transfer the ownership to book record and void the lost Certs? Why require reissue of Certs?
FA 2 You have never dealt with Computershare ha ha. Think of this thread when you do,
I believe it’s the same fee regardless of “how” they get reissued. Book entry or certificates. Maybe call them and double check. Sorry!
OP, we are considering doing that too. We sometimes spend several hours and multiple meetings getting stock transferred. If you don’t mind me asking, what kind of fee’s do you normally charge for that type of work? We also charge for the Medallion stamp.
So, I have a friend who’s father just passed. They have one cert but lost two. They called computershares and were told they had to request new certs to be issued then turn around and send them back in with a medallion stamp and a 50$ Check to get them transferred. Pretty nice racket to require new certs issues before transfer!
We deal with them every week. Freaking nightmare. Plus, if you have “lost certificates” they charge like 2% of the value to replace them. We send them stuff all they time and they lose about half of the paperwork we send them. HATE isn’t a strong enough word.
Just asked him and he said they quoted him at 3% of the value and 100$ for the 2 Certs. That is insane!!! I don’t know what the value is but if it is like 500k that’s 15k. That is a fantastic racket! With the baby boomers still hold Certs they are going to make a killing!
Can someone tell me why you need a whole meeting or more to transfer stock? Newbie here and confused
I am charging $1,500. I’m working with the son of an elderly client with medical issues. The goal is to eliminate the expense and time delay of
probate for the benefit of children. Pay me or pay Attorneys to help along with frustration and 1 to 2 year delays.
Odd I do stock option transfers all the time with my clients never have an issue. We do online no fee.
You can’t do online if they have a physical certificate. It must be mailed in and then added as book entry. Am I missing something?
Ameriprise
What do you mean stock option trades transfers with Computershare?