Susanne,

I have been the "Treasurer for Life" in two Club and we both use Foliofn.  What we/I like about Folio are 1) No brokerage fee, 2) Purchase in fractional shares so you can invest all your monthly contributions, 3) unlimited window trades, they trade at 11 AM and 2 PM each day. One of my Clubs meet on Saturday so I can put the order(s) in Saturday afternoon and it will be executed Monday at 11 AM (I don't have to worry about aftermarket trades if we put the order in when the market is not open). 4) bivio has AccountSync with Folio.

Now what I don't like about Foliofn 1) They don't accept money orders as a deposit 2) (and this is the big one) If your members use "Bill Pay" to fund their deposits they hold the funds for withdrawal for 60 days.  You can invest the funds; just can't withdraw the funds. For example if you have $500 in cash that was deposited by Bill Pay and you want to pay a withdrawing Partner $350 you have to have $850 in cash to withdraw $350. So we require our Partners to use the old paper check to make their monthly contributions.

-----Original Message-----
From: Suzanne M. Tuttle via bivio.com <user*13764000001@bivio.com>
To: club_cafe <club_cafe@bivio.com>
Sent: Mon, Feb 11, 2019 12:05 pm
Subject: [club_cafe] Club-Friendly Brokerages

While recently seeking the correct form to update our club
roster with our broker, I learned that our broker (Schwab)
no longer opens new investment clubs or provides the support
they once did for established accounts. Our club is
grandfathered but it will be more complicated working with
them going forward.

Can anyone make a recommendation for a new broker that I can
take to my next meeting for discussion? We love the
AccountSync feature so it will need to be a company on that
list.

Thank you.