05-14-2015, 10:55 PM
(05-14-2015, 03:54 PM)crimsonghost747 Wrote:(05-14-2015, 02:30 PM)Jimbo Wrote: Selling and moving is not b an option as some of the L ost COG would kill me (example AAPL @ $3.24)
Jim
As Eric pointed out it is possible to transfer the shares without selling. This obviously has some fees related to it, only thing (that may or may not be related) I found from Merrill Edge website is "Full account transfer fee - $50" Usually it is in that range though, between $50 and $100. The new broker rarely charges anything.
Usually selling and transferring the cash is easier and faster but in your case it doesn't look to be financially smart. Point is, don't stick with mediocre service because you feel like you have to.
Also if I understood correctly this problem only happens with the DRIP for BP? In that case you would only need to transfer BP shares, which should be pretty easy on the taxes right now even with "sell->transfer cash-> buy" method.
Correct, I transferred brokerages twice last year and I didnt have to sell anything. The only "sell" if you could call it that is you can't transfer partial shares and those get sold and returned as cash a few days after the rest of the portfolio is moved.
I love Fidelity now that I've moved there. Trade costs are about average, but the features and interface are great. Also many no fee ETFs that I use to supplement my ROTH until I have enough contribute to a new position.