Computershare

CAM on

------ Original Message ------

From: Laurie Frederiksen
To: The Club Cafe
Sent: March 18, 2019 at 7:02 PM
Subject: Re: [club_cafe] Computershare

It amazes me that people still feel they should be doing automatic DRIP investing.

I can tell you that probably 95% or more of the clubs that have big issues at tax time are those that have been doing automatic dividend reinvesting.

It can take hours to untangle the difficult issues that come with mistakes in record keeping for those types of investments. Usually they have gone unnoticed by club treasurers for many years. The more time that goes by, the more complicated they get.

We don't do that work for you for free to untangle them. From many years of answering support questions, I also know that many of you are not comfortable figuring out the issues to do it yourselves. Yet you continue to invest this way.

You also aren't comfortable properly staying on top of all the things that need to be checked every time something happens with your stocks that affect the cost basis of your hundreds of lots of tiny fractions of shares.

If you don't, you have big issues when you sell them and your bivio information doesn't agree with your broker.

An example of problems that arise is the transferring of DRIP accounts to a broker that you have been discussing here. Unless you make sure the DRIP company doesn't provide Average cost basis for each lot to the receiving broker, you'll have match up issues when you sell shares.

You also don't want to transfer shares and combine them in bivio with DRIP investing you were already doing in the same company with the broker. bivio does not track shares by account they are held in. If you do and you sell or transfer shares in a withdrawal, you need to manually make sure the same shares are chosen in bivio that the broker chose. This is not information provided to us by the broker. It is something you need to edit yourself and it is not easy to do.

Many years ago, the hassle of keeping accurate records for DRIP investments may have been worth the savings in commission costs but that is no longer the case.

In the past, there was no cost basis tracked by the broker to show you when you reported a sale incorrectly.

That is also no longer the case.

Staying fully invested does not mean you need to do automatic Dividend reinvesting. The record keeping problems it causes have caused many clubs to close in frustration and many club treasurers to be miserable. That is very sad since the issues could have been easily avoided by just not doing automatic dividend reinvesting.

Laurie Frederiksen
Invest with your friends!
www.bivio.com

Become our Facebook friend! www.facebook.com/bivio
Follow us on twitter! www.twitter.com/bivio
Follow Us on Google+

Click here to Subscribe to the Club Cafe email list. Click here to Unsubscribe

On Mon, Mar 18, 2019 at 3:03 PM LORNA DUCK via bivio.com <user*22851200001@bivio.com> wrote:

John,

Thanks. You are the only one who has mentioned ever having computershare. Good to know about TDAmeritrade account. I will look into that.

Lorna

On Monday, March 18, 2019, 08:02:29 AM PDT, M.G. Kademani via bivio.com <user*17485900001@bivio.com> wrote:

We had used Computershare for years for a number of stocks for years. It was convenient when they allowed online access and building a portfolio. About 7-8 years ago they disallowed online access for partnerships, so I transferred each of them to the club's TDAmeritrade account. It was painless going through the TDA direct transfer process. It was made easier that the account names were mostly similar. No need for Silver Medallion or any other BS.

At this point we do not have any accounts with any TA (Transfer agent). TDA is much easier during tax time and having one place to go for transactions.

I still utilize Computershare for some of my personal stocks, but am slowing transferring those to my TDA account as well when Computershare "improves" their accounts with added fees.

mgk

From: club_cafe@bivio.com <club_cafe@bivio.com> on behalf of LORNA DUCK via bivio.com <user*22851200001@bivio.com>
Sent: Sunday, March 17, 2019 1:03 AM
To: club_cafe@bivio.com
Subject: Re: [club_cafe] Computershare

Thanks Peter! I will.

Lorna

Sent from Yahoo Mail for iPhone

On Saturday, March 16, 2019, 7:29 PM, Peter Dunkelberger via bivio.com <user*26984900001@bivio.com> wrote:

Hi Lorna,

I profess ignorance about the "silver medallion". Except I do know that banks use them as one step up from a notary public certification.

We were with Scottrade for years and they were bought by TD Ameritrade, so the transfer was "semi-seamless". It seems from I have read that the Silver Medallion is Computershare's requirement, is that correct? If it is a requirement of Edward Jones, then I cannot guess what TD Ameritrade would want. Even with the purchase of Scottrade by TD Ameritrade, we still had to fill out the partnership paperwork, mainly because our partnership officer elections happened at the same time. But once you are working with TD Ameritrade, the online services are automatically available. Nothing we did or do with TD Ameritrade has required more than signatures of the partners. We had to appoint a "trading partner", the appointment of whom required a copy of the meeting minutes reflecting that appointment. The initial set up with TD Ameritrade is somewhat tedious and requires a lot of reading and talking to TD Ameritrade to make certain what information they actually want on what line. After that it is simplicity defined.

I would suggest you call TD Ameritrade and see what they say. Whatever they require will be easier and cheaper than what you are going through now.

Peter Dunkelberger

On Sat, Mar 16, 2019 at 9:17 PM LORNA DUCK via bivio.com <user*22851200001@bivio.com> wrote:

Peter

What did you have to provide to be able to go online. Do you know if I could transfer all of mine from Computershare to TD without getting the Silver Medallion they want. Would TD be able to do a broker transfer! I'm sorry. You may not know that if you haven't done it but asking just in case you know

Thanks for the info.

Lorna

Sent from my iPhone

On Mar 16, 2019, at 5:36 PM, jacks2@charter.net via bivio.com <user*29159500001@bivio.com> wrote:

Bu j y ,g

-------- Original message --------

From: "Peter Dunkelberger via bivio.com" <user*26984900001@bivio.com>

Date: 3/16/19 12:03 PM (GMT-07:00)

To: club_cafe@bivio.com

Subject: Re: [club_cafe] Computershare

Whoa. Those must have been heavy trades. Right now, TD Ameritrade is like $6.95 a trade and they synchronize with Bivio. They have a great online technical support group, and I do not know who our broker is, but I have talked to a few there and they have been super.

All of our trades are executed on line with lots of options, like limit trades. You might not trade enough to make a big dent in your budget, but you have to consider value received when one organization charges 25% of EJ's fees for pretty much the same services.

Peter Dunkelberger

Sumner Stock Selectors Investment Club

Virus-free. www.avg.com

On Sat, Mar 16, 2019 at 2:32 PM Linda Glein via bivio.com <user*21345500001@bivio.com> wrote:

Bob, I have to admit that $30 was a lot better than I was expecting. My dad's broker charged more like $130 a trade.

Linda Glein

Mail