Thanks so much Michael. I appreciate the information.

Margot

-----Original Message-----
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Michael Boyd
via bivio.com
Sent: Friday, November 10, 2023 9:59 PM
To: club_cafe@bivio.com
Subject: RE: [club_cafe] our club wants suggestions for new broker that
AccountSyncs with Bivio

Margot,

You can grant view only access on Fidelity directly via their web site. They
call it Inquiry Access. See the details here:
https://www.fidelity.com/customer-service/account-access-rights-overview
You do need to enter the member's name and SSN and they need to have an
existing Fidelity Account.
We report out current cost and market values using the Positions tab for the
Investment Club account. The default print button (we print as a PDF) works
for us. There is also a download button we use to pull into our master excel
reporting worksheet.

- Michael Boyd, Salt Pond Investments

-----Original Message-----
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Margot Herkes
via bivio.com
Sent: Friday, November 10, 2023 2:38 PM
To: club_cafe@bivio.com
Subject: RE: [club_cafe] our club wants suggestions for new broker that
AccountSyncs with Bivio

Myra

I am the Treasurer for Mitten Investors. Our club transitioned to Fidelity
from Folio when Folio would no longer handle investment clubs. To date, we
have not had any issues with Fidelity. It was somewhat time consuming to
set up as Fidelity required signatures from all partners and several forms.


- We have a brokerage account that includes cash
- We have only 3 partners with access as Fidelity does not have an option to
allow only viewing for remaining partners
- Some of our members transfer contributions electronically from the members
banks but not all (depends on the bank) as not all of the banks have the
option for electronic transfer.
- Fidelity has a mobile app that allows mobile deposit of members'
contributions by check
- Fidelity does accept checks sent directly to them but we have only used
once and there are specific instructions for the mailed checks
- Bivio account sinc has worked without any issues. Per a Club Café email
from a contributor (not from Bivio personnel), MyIclub indicated in a
seminar that account sinc with Fidelity would stop. I suggest that you
discuss with Bivio.
- Fidelity provided checks and we paid our few expenses, Bivio,
BetterInvesting, add'l tax service, seminar expenses, with checks drawn on
the brokerage.
- I have not found it easy to download a report of all current holdings and
basis used for the annual audit process.
- To date we have not had a partner withdraw where stock was issued as our
withdrawals have been for very small amounts. Fidelity has indicated that
if we wanted to transfer stock, the member would establish a Fidelity
account to which the stock could be transferred. Per Fidelity, no minimum
balance required. As we have not had this issue to confirm that the
information provided to me was correct, perhaps other clubs using Fidelity
could address this issue.

Margot Herkes

-----Original Message-----
From: club_cafe@bivio.com <club_cafe@bivio.com> On Behalf Of Myra Wilson via
bivio.com
Sent: Friday, November 10, 2023 1:10 PM
To: club_cafe@bivio.com
Subject: [club_cafe] our club wants suggestions for new broker that
AccountSyncs with Bivio

Our investment club is in the final stages of voting on a new broker that
AccountSyncs with Bivio. Any pros or cons from other clubs about the broker
you use that you care to share? (BTW, we don't need to hear about Schwab;
they are off the table because our portfolio doesn't meet their
minimum.) Thanks!

Thank you to everyone for your helpful responses. We voted
to move to Fidelity. They have excellent educational and
research tools, and it sounds as if they sync really well
with Bivio, which were 2 of our main criteria. Fingers
crossed the transition goes smoothly.