The Money Mustache Community

Learning, Sharing, and Teaching => Investor Alley => Topic started by: sheepstache on May 01, 2013, 02:44:19 PM

Title: Can you just move DRIPs from Compushare into a brokerage account?
Post by: sheepstache on May 01, 2013, 02:44:19 PM
There are some companies you can buy through compushare for a minimal start-up cost, no purchase fee, no reinvestment fee (or paid by company) and then to sell it's like $25 plus some fee per stock, like, 15 cents.  Or $15 plus fee for a batch sale.  I see that you can move your shares somewhere else at any time and they don't mention any fees for that that I can see.  So when you were ready to sell could you just move everything to, say, sharebuilder and pay 7 bucks or whatever and get a market sale? 
Of course it's not a huge amount and not something that's relevant to me at the moment but I wanted to see if I was overlooking something, possibly something distinctive about DRIPs.
Title: Re: Can you just move DRIPs from Compushare into a brokerage account?
Post by: Joet on May 01, 2013, 05:07:08 PM
I have a dangling DRIP account and yes you can transfer, it's a pretty big fee tho so I never bothered
Title: Re: Can you just move DRIPs from Compushare into a brokerage account?
Post by: sheepstache on May 01, 2013, 06:32:53 PM
I can find information on getting shares transferred to a broker but it doesn't say anything about fees.  It does say it has to be initiated by your broker so maybe the broker would charge you something?  Most broker fee schedules though seem designed to encourage you to transfer stuff in. 
Title: Re: Can you just move DRIPs from Compushare into a brokerage account?
Post by: Joet on May 01, 2013, 07:50:23 PM
Drip made a lot more sense when transaction fees were high and when I thought individual ownership of stock was a good idea, because I thought I could pick winners. Sufficiently disabused of that notion, I now index.
Title: Re: Can you just move DRIPs from Compushare into a brokerage account?
Post by: sheepstache on May 01, 2013, 07:53:10 PM
Yeah, my portfolio isn't big enough now that I would consider individual stocks and if I ever get into it it would just be for fun.  But apparently I am someone who finds fee schedules interesting.
Title: Re: Can you just move DRIPs from Compushare into a brokerage account?
Post by: Joet on May 01, 2013, 08:03:42 PM
Or you'll be like me and 10 years after you started a drip program you can advise others on 'not bothering' to pull that last share out :)

Anybody need a paper stock certificate for:
Nortel
Lucent
Just two of my awesome picks. [neither exists any longer]
Default risk . Lol, I beat someone who wasn't investing through the tech collapse has an idea what I'm talking about.