Etrade acquires Capital One Investing/Sharebuilder....

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Yep. Time to bail. I'm already looking to decide where I'm going to move my money.

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Why time to bail?

Thanks for sharing the article RunningBlake. I use Sharebuilder/CapOne and had not seen this.

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I have been with them since they were ING Direct, then to Capital One 360, then to Capital One, and now to ETrade. Anyone tell me why I should care about this?

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I think this is different than what is being sold. Etrade is buying CapOneInvesting, not CapitalOne. I was/am also with ING Direct --> CapOne 360 --> CapOne, but I dont think those accounts are changing. Unless I misunderstood...

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Why time to bail?

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I was using Capital One Investing only because their trades were something like $4 if you set it up to execute automatically on an automatic deposit plan. I used them for things that I didn't necessarily want to tie up a minimum initial investment that's usually required to buy a fund directly from the bank that manages it.

Since E-Trade currently doesn't seem to offer this (at least I couldn't find it on their website), I'm going elsewhere if I have to pay $7 a trade. Further, this isn't as if it's a debt that Capital One is selling off. These are my accounts with my assets in them. That doesn't sit well with me, as they're just assuming I want to trust my money to E-Trade. Finally, I just don't trust E-Trade. It's irrational distrust, but it's there. If my bank were sold to someone I didn't trust, I'd move my money. Same thing.

I was with Sharebuilder before it was even with ING (when it was its own company as Sharebuilder). I opened my account way back in Nov/Dec 2001. I am still under the $12/mo advantage plan with 12 free trades and $1 each thereafter. I am really hoping that they keep me under this plan.

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I am still under the $12/mo advantage plan with 12 free trades and $1 each thereafter. I am really hoping that they keep me under this plan.

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Me too; I'm not optimistic at all that E-Trade will continue that.

Welp, they are not

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Starting on July 13, there will be some changes to Capital One Investing's offerings. PortfolioBuilder® will no longer be available after July 13, 2018, and the ShareBuilder® Investment Plan will not be available after July 17, 2018. These are the last days, respectively, that you can enter trades for each program.

When the ShareBuilder Investment Plan is discontinued, your purchase instructions and corresponding money transfer instructions associated with this program will be canceled. All open orders associated with this program will be canceled on July 18, 2018. If you are enrolled in the Advantage subscription program, including the Costco Advantage program, the last monthly subscription fee was charged on May 1, 2018. You will not be charged a fee for your subscription in June or July, and your subscription benefit will end on July 17, 2018.

Dividend reinvestment will no longer be available after July 17, 2018. Dividends and capital gains paid after that date will be distributed to your account in cash before your account is moved to E*TRADE.

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I'll be switching to Stockpile at the beginning of July, sell all my investments at CapitalOne, withdraw the money and then rebuy them at Stockpile. I don't know if they do automatic investments, but they do dividend reinvestments and fractional shares, and commission is $0.99 a share (which is effectively the same cost as ShareBuilder, considering the 12 free investments under the $12/month Advantage plan)

You can read this thread here, LINK It mentions that you can transfer an account to another brokerage, but that costs money (usually something like $75). It all depends if the place you are leaving (and going to) is a member of ACATS (Automated Customer Account Transfer System), CapitalOne is not. I can't tell if Stockpile is or not.

I don't know when the transfer date is, I'd imagine only CapOne and Etrade know that.

Also, I found a better place to go to, M1 Finance. Auto investing, and fractional investing. Best of all, its all free.