Author Topic: Sharebuilder to Capital One to ETrade  (Read 1844 times)

talltexan

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Sharebuilder to Capital One to ETrade
« on: July 13, 2018, 08:54:07 AM »
My beloved sharebuilder investment account appears to be changing a lot.

The ability to deal in fractional shares is going away, as is re-investment of dividends. I'm only 38 years old, and probably ten years from retirement, so dividends aren't critical to me. Is anyone else going through this? are you making changes?

DragonSlayer

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Re: Sharebuilder to Capital One to ETrade
« Reply #1 on: July 13, 2018, 10:09:06 AM »
I'm waiting for the switch to go through and then I'll be moving out of Etrade and into somewhere else. Possibly Vanguard or Fidelity. I don't know anyone who's had great experiences with etrade. I'd leave now, but Cap. One has such a painful process to close and move an account because they can't do simple electronic transfers. I understand that etrade can do it all electronically and save a lot of hassle.

I'll miss the ability to do fractional shares, though. That was a great way to get into some pricey stocks and funds without having to come up with the whole amount at once.

justchristine

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Re: Sharebuilder to Capital One to ETrade
« Reply #2 on: July 14, 2018, 05:56:22 AM »
I moved everything to my vanguard account earlier this year and it wasn't too painful.  I filled out a form online with vanguard and they took care of everything with capital one

DragonSlayer

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Re: Sharebuilder to Capital One to ETrade
« Reply #3 on: July 14, 2018, 08:18:39 AM »
I moved everything to my vanguard account earlier this year and it wasn't too painful.  I filled out a form online with vanguard and they took care of everything with capital one

You didn't have to go through all the medallion signature guarantee crap? Lucky you. Any way I've looked at it, they've insisted that's part of the process, which is a lot of aggravating paperwork and time.

justchristine

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Re: Sharebuilder to Capital One to ETrade
« Reply #4 on: July 14, 2018, 02:54:46 PM »
I moved everything to my vanguard account earlier this year and it wasn't too painful.  I filled out a form online with vanguard and they took care of everything with capital one

You didn't have to go through all the medallion signature guarantee crap? Lucky you. Any way I've looked at it, they've insisted that's part of the process, which is a lot of aggravating paperwork and time.

I did have to send in a medallion signature too but that was just a quick trip to the bank.  The whole process was pretty easy compared to the last time I had to do a 401k rollover.

talltexan

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Re: Sharebuilder to Capital One to ETrade
« Reply #5 on: July 16, 2018, 07:01:13 AM »
I was thinking about motiffe (Paul Merriman has set up some target date portfolios there based on his ultimate buy/hold) for the switch from e-Trade.

I've currently used the account as a semi-emergency fund, with the dividends being used to pay the interest on short term debt in other places. I've had to accept below-market gains in order to get the high yield that makes this work.

beltim

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Re: Sharebuilder to Capital One to ETrade
« Reply #6 on: July 16, 2018, 07:22:26 AM »
I believe etrade will allow dividend reinvesrment if you request it via customer service.  Dont rely only on tools in web site for the list of what can be set up.

ETrade allows dividend reinvestment and there's a tab on the top of the screen that says "Dividend Reinvestment" so you can do it all online without contacting customer service. 

talltexan

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Re: Sharebuilder to Capital One to ETrade
« Reply #7 on: July 17, 2018, 09:09:18 AM »
How do they track the shares? Are they partial shares? or do they let you float some type of account?

Bird In Hand

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Re: Sharebuilder to Capital One to ETrade
« Reply #8 on: July 17, 2018, 01:13:55 PM »
I'm waiting for the switch to go through and then I'll be moving out of Etrade and into somewhere else. Possibly Vanguard or Fidelity. I don't know anyone who's had great experiences with etrade. I'd leave now, but Cap. One has such a painful process to close and move an account because they can't do simple electronic transfers. I understand that etrade can do it all electronically and save a lot of hassle.

I've decided to do the same with my Sharebuilder/Capital One/Etrade => Vanguard transfer.   I don't even care about the $75 anymore, I just want the convenience of an electronic transfer process.

beltim

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Re: Sharebuilder to Capital One to ETrade
« Reply #9 on: July 18, 2018, 12:04:40 AM »
How do they track the shares? Are they partial shares? or do they let you float some type of account?

Yes, they have partial shares.  It's the same way that every other broker does it, to my knowledge - you trade in whole shares, but if you sell so that you only have partial shares remaining, they sell the fractional shares automatically.

MarciaB

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Re: Sharebuilder to Capital One to ETrade
« Reply #10 on: August 18, 2018, 11:49:48 AM »
I too have been with Sharebuilder long enough to have gone through them, to Capital One, and now to ETrade (heaving a big sigh as we speak). They just finished selling off the rest of my fractional shares, which of course incurred capital gains for me that I don't particularly want. Thanks?

I'm heartened to hear that Etrade allows dividend reinvestment though, I'll be switching that back on when the whole move-on-over is complete.

talltexan

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Re: Sharebuilder to Capital One to ETrade
« Reply #11 on: August 20, 2018, 07:19:14 AM »
I too have been with Sharebuilder long enough to have gone through them, to Capital One, and now to ETrade (heaving a big sigh as we speak). They just finished selling off the rest of my fractional shares, which of course incurred capital gains for me that I don't particularly want. Thanks?

I'm heartened to hear that Etrade allows dividend reinvestment though, I'll be switching that back on when the whole move-on-over is complete.

My fractional shares were typically $10-$40. Do you own shares of amazon or Berkshire or something?

MarciaB

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Re: Sharebuilder to Capital One to ETrade
« Reply #12 on: August 20, 2018, 09:11:22 AM »
Nope, but some of the fractions were 0.85 of a share (with shares costing like $115 or something). So, not tons of gains to be sure, but everything that happens needs to be listed on Schedule D, which then ends up costing me accountant time (even though I provide a spreadsheet laid out exactly like the schedule).

And I didn't ask for them to be sold! I hate it when a corporation makes a decision on my behalf ("for my own good"). That's what's really pissing me off here.

talltexan

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Re: Sharebuilder to Capital One to ETrade
« Reply #13 on: August 20, 2018, 09:43:06 AM »
I, too, was frustrated by the forced liquidation of fractional shares when I first learned of them in early July. I had a little bit of time to make partial buys early in that month and reduce the positions before they were liquidated. Cost me some trading fees, but it saved on the frustration.

WranglerBowman

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Re: Sharebuilder to Capital One to ETrade
« Reply #14 on: August 21, 2018, 11:50:01 AM »
I put in all my paperwork to transfer my entire Sharebuilder/CapitalOne account over to Merrill Edge in June...it still has not gone through...every 18-23 days someone looks at the paperwork and says I need to change something and resubmit to Merrill so they can resubmit to CapitalOne and start the process over, 3 times now...so fed up.  The reason I wanted to transfer to Merrill is they're linked with Bank of 'Merica and can do same day fund transfers and if you're a preferred member you get free trades.

pressure9pa

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Re: Sharebuilder to Capital One to ETrade
« Reply #15 on: August 23, 2018, 09:59:30 AM »
Following this one.  My wife and I both have Roths with Sharebuilder/CapOne, and I'm getting a little annoyed anyway with how many different places we have money stashed away.  I might transfer these over to a brokerage where one of us has a 401k/403b, just for simplicity if I don't like the ETrade platform.