In
this second half of the year three brokers
commonly used by clubs are being Acquired.
TDAmeritrade
is being acquired by Schwab
Folio
Investing is being acquired by Goldman
Sachs
E*Trade
is being acquired by Morgan Stanley
If
your club uses any of these brokers,
there are two things you should do right
now to get ready.
Make sure that you check that the
purchase dates, number of shares and
cost basis shown for each lot of each of
the stocks you own on the bivio
"Investment Lot Cost Basis" report,
agrees with similar details on an
"Unrealized gain/loss" or "Open Tax Lot"
report you can get from your broker.
Make sure that you check that the
purchase dates, number of shares and
cost basis and capital gain shown for
each lot of each stock you have sold so
far this year shown on the bivio
"Capital Gains and Losses" report agrees
with similar details that your broker
shows on a "Realized gain/loss" or
"Closed tax lot" spreadsheet.
The
reason to do these things ASAP is that the
information from your old broker will go
to the new one. If any of it is
incorrect, there then be no way to change
it at the new broker.
If
any of your information in bivio is
incorrect, you will need information from
the old broker to get it corrected.
Access to this may be limited once the
change has happened.
You
want to find out and fix any problems
now, before the brokers are taken over.
Laurie
Frederiksen
Invest with your friends! www.bivio.com