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Started By
Message
Stop Trade Restriction Computershare
Posted on 3/6/23 at 11:24 am
Posted on 3/6/23 at 11:24 am
I hope this is a good place to discuss this but here is my situation:
For a few months now I've had a stop trade restriction on two of my stocks on computershare. They were gifted to me by family so I had no choice in where I put these stocks. In order to get access again to my stocks I tried calling computershare about a month ago. I was told they would call me back in a couple business days, never happened. Then I called again and this time they told me send a letter asking to remove the stop trade restriction and get a notary to sign it. I did that three weeks ago and they received it about a week later. It's been 11 business days and still no luck. When I called them, they said they received it but it’s been processing for about 2 weeks now, or 11 business days.
Basically I need to liquidate some of the stock, and if possible I’d like to transfer it to another brokerage and away from computershare. They charge a base fee of $25 to sell stocks, another $35 to wire transfer it, plus an additional fee. Is that typical for any brokerage, or outrageous? That’s if I can even get access to my stock.
Thoughts? Suggestions?
For a few months now I've had a stop trade restriction on two of my stocks on computershare. They were gifted to me by family so I had no choice in where I put these stocks. In order to get access again to my stocks I tried calling computershare about a month ago. I was told they would call me back in a couple business days, never happened. Then I called again and this time they told me send a letter asking to remove the stop trade restriction and get a notary to sign it. I did that three weeks ago and they received it about a week later. It's been 11 business days and still no luck. When I called them, they said they received it but it’s been processing for about 2 weeks now, or 11 business days.
Basically I need to liquidate some of the stock, and if possible I’d like to transfer it to another brokerage and away from computershare. They charge a base fee of $25 to sell stocks, another $35 to wire transfer it, plus an additional fee. Is that typical for any brokerage, or outrageous? That’s if I can even get access to my stock.
Thoughts? Suggestions?
This post was edited on 3/6/23 at 11:25 am
3
Posted on 3/6/23 at 11:49 am to catholictigerfan
Call the Securities and Exchange Commission?
LINK
quote:
Investor Assistance and Complaints
The Office of Investor Education and Assistance answers questions from investors, assists investors with specific problems regarding their relations with broker-dealers and companies, and advises the Commission and other offices and divisions regarding problems frequently encountered by investors and possible regulatory solutions to such problems.
Phone, 202–942–7040.
Consumer information line, 800–SEC–0330 (toll-free).
Fax, 202–942–9634.
LINK
Posted on 3/6/23 at 11:56 am to Bard
Thanks I’ll give it a try.
Posted on 3/7/23 at 11:47 am to catholictigerfan
I am sorry you are having problems. ComputerShare isn't a broker. It is a transfer agent.
Your shares there are actually in your name and not with the DTCC and the loaning and PFOF bullshite they do.
For what I do with them, I don't have an issue. I am long on my stocks that are held there and have them set to dividend reinvest. When I buy direct, I buy via ComputerShare.
There is a lot of misinformation on the web about ComputerShare. The fee is based on company rules that the individual companies require (i.e. Amazon, AMD, etc).
Anyway, good luck. I hope you get what you are after.
Your shares there are actually in your name and not with the DTCC and the loaning and PFOF bullshite they do.
For what I do with them, I don't have an issue. I am long on my stocks that are held there and have them set to dividend reinvest. When I buy direct, I buy via ComputerShare.
There is a lot of misinformation on the web about ComputerShare. The fee is based on company rules that the individual companies require (i.e. Amazon, AMD, etc).
Anyway, good luck. I hope you get what you are after.
Posted on 3/7/23 at 1:14 pm to GhostOfFreedom
I also inherited stock and wanted it out of Computershare. So I requested a transfer into my Etrade account and Etrade handled everything no problems and for no cost. If you have an account with a quality broker, I'd say try to go through them and see what happens instead of dealing with Computershare. Brokerages want your stock.
Posted on 3/7/23 at 2:32 pm to Diseasefreeforall
That is a good point. Usually a pull is free. Fidelity would be another good one so set up.
I actually do pushes from Fidelity to Computershare without any fee.
I think some brokers charge. Plus, I like Fidelity's interface and tools.
I actually do pushes from Fidelity to Computershare without any fee.
I think some brokers charge. Plus, I like Fidelity's interface and tools.
Posted on 3/7/23 at 8:24 pm to catholictigerfan
quote:sucks donkey balls
Computershare
Posted on 3/8/23 at 9:38 am to GhostOfFreedom
Finally got what I was looking for, able to sell now!
The next step is to transfer to a brokerage so I can buy or sell without fees. Any suggestions on which brokerage to use? I have sofi as my main bank and they also act as a brokerage.
The next step is to transfer to a brokerage so I can buy or sell without fees. Any suggestions on which brokerage to use? I have sofi as my main bank and they also act as a brokerage.
This post was edited on 3/8/23 at 9:39 am
Posted on 3/8/23 at 11:44 am to catholictigerfan
Fidelity is good. I like it better than TDAmeritrade and Merrill Lynch.
Posted on 9/1/23 at 6:00 am to catholictigerfan
Hello friend, good morning!
I have the same problem that you had ??.
Can I ask how did you do to be able to sell on your account?
They asked me for a notarized letter, I am in the process of making it, I would like to receive a little help, to know how you made it, how the letter is made
I have the same problem that you had ??.
Can I ask how did you do to be able to sell on your account?
They asked me for a notarized letter, I am in the process of making it, I would like to receive a little help, to know how you made it, how the letter is made
Posted on 9/1/23 at 8:32 am to catholictigerfan
When you transfer the stock do you get banged with taxes?
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