Comments on: Account Transfer from ShareBuilder to Zecco: The Information You Need http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/ Fri, 20 Nov 2009 19:09:54 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: From TradeKing to Sharebuilder - From Sharebuilder to Tradeking - Asset Transfers | MsMoneyGirl.net Stock Magazine http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-52325 From TradeKing to Sharebuilder - From Sharebuilder to Tradeking - Asset Transfers | MsMoneyGirl.net Stock Magazine Fri, 27 Feb 2009 01:59:34 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-52325 [...] to will compensate you to cover the charge.  Both companies charge $50 for a full transfer out.  The Sun’s Financial Diary gives a good explanation of a transfer [...] [...] to will compensate you to cover the charge.  Both companies charge $50 for a full transfer out.  The Sun’s Financial Diary gives a good explanation of a transfer [...]

]]> By: Chris http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-52265 Chris Wed, 25 Feb 2009 17:40:49 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-52265 Putting your money with Zecco is a mistake. No more free trades, they have the worst accounting methods (I am complaining to FINRA because I think they stole money from me), and their customer service reps don't know SEC rules and are rude. The management is not knowledgeable either. Putting your money with Zecco is a mistake. No more free trades, they have the worst accounting methods (I am complaining to FINRA because I think they stole money from me), and their customer service reps don’t know SEC rules and are rude. The management is not knowledgeable either.

]]> By: Step3 Prophet http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-42096 Step3 Prophet Sun, 20 Apr 2008 02:48:33 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-42096 <strong>Moving accounts...</strong> I've been thinking about moving my Sharebuilder account over the Zecco for quite some time now. I stopped my automatic investments with Sharebuilder awhile back, and any new money I wanted to direct into stocks has been through Zecco because... Moving accounts…

I’ve been thinking about moving my Sharebuilder account over the Zecco for quite some time now. I stopped my automatic investments with Sharebuilder awhile back, and any new money I wanted to direct into stocks has been through Zecco because…

]]> By: John http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-34144 John Thu, 10 Jan 2008 20:19:10 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-34144 Also, it will take approx. 30 days for transfer according to a Sharebuilder associate. Also, it will take approx. 30 days for transfer according to a Sharebuilder associate.

]]> By: Sun http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-13327 Sun Sat, 07 Jul 2007 19:57:58 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-13327 Drew: Since ShareBuilder charges $15.50 for real-time transaction, I suspect they will charge less simply because I want to sell partial shares. But I won't know until it's done and see how much the who process really cost me. In addition to the $15.50 fee for selling your shares, transferring account out of ShareBuilder will cost you another $50. If you have a small account, then perhaps selling all your shares and closing the account at ShareBuilder and starting all over again at Zecco is the best way. Of course, it depends on how much you have made with ShareBuilder from your investment. It looks like from ShareBuilder's website that they don't charge fees for closing the account. I don't know if you transfer only the whole shares, but ShareBuilder says on their website you will pay $10 per security transferred out. Though Zecco doesn't change commissions, they are still a small player and not everybody feels comfortable with them. I myself am a little skeptical on how long they can maintain the fee-free structure and their customer service really isn't great. I guess there are still many waiting. Also many have been with their current broker for a long time (I have been using Scottrade for six years), and they probably don't want to abandon it (I still keep my Scottrade account and most of my investments). Drew: Since ShareBuilder charges $15.50 for real-time transaction, I suspect they will charge less simply because I want to sell partial shares. But I won’t know until it’s done and see how much the who process really cost me.

In addition to the $15.50 fee for selling your shares, transferring account out of ShareBuilder will cost you another $50. If you have a small account, then perhaps selling all your shares and closing the account at ShareBuilder and starting all over again at Zecco is the best way. Of course, it depends on how much you have made with ShareBuilder from your investment. It looks like from ShareBuilder’s website that they don’t charge fees for closing the account. I don’t know if you transfer only the whole shares, but ShareBuilder says on their website you will pay $10 per security transferred out.

Though Zecco doesn’t change commissions, they are still a small player and not everybody feels comfortable with them. I myself am a little skeptical on how long they can maintain the fee-free structure and their customer service really isn’t great. I guess there are still many waiting. Also many have been with their current broker for a long time (I have been using Scottrade for six years), and they probably don’t want to abandon it (I still keep my Scottrade account and most of my investments).

]]> By: Drew http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-13016 Drew Thu, 05 Jul 2007 03:21:17 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-13016 Thanks for the post Sun! I was curious about the partial share transfer issue. So it will cost $15 to liquidate partial shares?! I'm new to investing so my ShareBuilder account is small, so this would eat into my profits quite a bit. This may be a stupid question, but is there a way that I can only transfer whole shares (and retaining my partial shares in my ShareBuilder account)? Finally, how is ShareBuilder going to compete with Zecco in the long run and how does Zecco say in business? Thanks for the post Sun!

I was curious about the partial share transfer issue. So it will cost $15 to liquidate partial shares?!

I’m new to investing so my ShareBuilder account is small, so this would eat into my profits quite a bit. This may be a stupid question, but is there a way that I can only transfer whole shares (and retaining my partial shares in my ShareBuilder account)?

Finally, how is ShareBuilder going to compete with Zecco in the long run and how does Zecco say in business?

]]> By: Welcome to the 107th Carnival of Personal Finance » Blogging Away Debt http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-12707 Welcome to the 107th Carnival of Personal Finance » Blogging Away Debt Mon, 02 Jul 2007 03:39:45 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-12707 [...] Account Transfer from ShareBuilder to Zecco: The Information You Need (1,051 words) [...] [...] Account Transfer from ShareBuilder to Zecco: The Information You Need (1,051 words) [...]

]]> By: Sun http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-12701 Sun Mon, 02 Jul 2007 02:08:58 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-12701 aschmuck: Thanks for pointing me to the information. I don't know how I missed it. So far I haven't heard anything about my transfer yet, but it looks like the partial shares will be liquidated as that's what ShareBuilder does when an account is transferred out. If that's the case, then this transfer is too costly as I will have to pay $15.50 fee to sell the partial shares. I should have just sold all my shares and closed the account instead of transferring it out. aschmuck: Thanks for pointing me to the information. I don’t know how I missed it. So far I haven’t heard anything about my transfer yet, but it looks like the partial shares will be liquidated as that’s what ShareBuilder does when an account is transferred out. If that’s the case, then this transfer is too costly as I will have to pay $15.50 fee to sell the partial shares. I should have just sold all my shares and closed the account instead of transferring it out.

]]> By: aschmuck http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-12663 aschmuck Sun, 01 Jul 2007 07:05:55 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-12663 It is in the help section http://www.zecco.com/trading/TradingReference.aspx?tab=FAQ#section-8 Can I transfer stocks to Zecco Trading in kind? Yes, in order to transfer your positions in kind, without having to liquidate, you will need to fill out the ACAT (Account Transfer) form. <strong>Please keep in mind that only full shares of equities can be transferred.</strong> (it could be made clearer) It is in the help section
http://www.zecco.com/trading/TradingReference.aspx?tab=FAQ#section-8

Can I transfer stocks to Zecco Trading in kind?
Yes, in order to transfer your positions in kind, without having to liquidate, you will need to fill out the ACAT (Account Transfer) form. Please keep in mind that only full shares of equities can be transferred.

(it could be made clearer)

]]> By: Sun http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-12629 Sun Sat, 30 Jun 2007 22:19:09 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-12629 Jim: I am not aware that Zecco only makes whole share dividend reinvestment. From their website, it says they offer free dividend reinvestment, so I assume when dividend is distributed, they will automatically reinvest whatever it's worth, whole share and/or partial share. I have never seen anything like this before. Looks like I will have to call them again to clarify the issue. Zecco Review: But if you transfer the account, it will cost you $50. To me, paying $15 fee to sell your shares is a better option than transferring them and paying $50 transfer fee. aschmuck: Thanks for the information. I wasn't able to find information about partial share transfer from Zecco, though when I searched their forum/blog, I did find a post about this matter and got some information on Sharebuilder website. Could you please show the link on Zecco website about " Zecco states it can only transfer whole shares"? Jim: I am not aware that Zecco only makes whole share dividend reinvestment. From their website, it says they offer free dividend reinvestment, so I assume when dividend is distributed, they will automatically reinvest whatever it’s worth, whole share and/or partial share. I have never seen anything like this before. Looks like I will have to call them again to clarify the issue.

Zecco Review: But if you transfer the account, it will cost you $50. To me, paying $15 fee to sell your shares is a better option than transferring them and paying $50 transfer fee.

aschmuck: Thanks for the information. I wasn’t able to find information about partial share transfer from Zecco, though when I searched their forum/blog, I did find a post about this matter and got some information on Sharebuilder website. Could you please show the link on Zecco website about ” Zecco states it can only transfer whole shares”?

]]> By: How Women Invest, Debt Payment Strategies, Credit Cards Issues And More: My Weekend Roundup » Silicon Valley Blog About Money http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-12586 How Women Invest, Debt Payment Strategies, Credit Cards Issues And More: My Weekend Roundup » Silicon Valley Blog About Money Sat, 30 Jun 2007 16:06:35 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-12586 [...] Account Transfer From ShareBuilder To Zecco: The Information You Need - The Sun’s Financial Diary leads us through the account transfer process he went through. [...] [...] Account Transfer From ShareBuilder To Zecco: The Information You Need – The Sun’s Financial Diary leads us through the account transfer process he went through. [...]

]]> By: aschmuck http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-12521 aschmuck Sat, 30 Jun 2007 06:50:43 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-12521 Zecco review, ShareBuidler is $15.95 to sell a stock. Sun do you have fractional shares? If so will you let us know how it is handled? I think one of 3 things will happen: 1. You will be left with the fractional shares in your account and will not be able to get the cash out without selling. 2. ShareBuilder will automatically liquidate the fractional shares and bill you $15.95 for each different stock sold. 3. The transfer will be denied since the fractional shares can not be transfered. Zecco review, ShareBuidler is $15.95 to sell a stock.

Sun do you have fractional shares? If so will you let us know how it is handled? I think one of 3 things will happen:

1. You will be left with the fractional shares in your account and will not be able to get the cash out without selling.

2. ShareBuilder will automatically liquidate the fractional shares and bill you $15.95 for each different stock sold.

3. The transfer will be denied since the fractional shares can not be transfered.

]]> By: Zecco Review http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-12506 Zecco Review Sat, 30 Jun 2007 05:26:45 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-12506 Sun, I have a question about ShareBuilder. I had an account with them a while back, and Sharebuilder charged $15 per stock sell. I had a couple hundred bucks in that account, so it made more sense for me to transfer the funds, rather than pay $15 per stock to close my position. Have their sell trade fees changed since then? Sun,

I have a question about ShareBuilder. I had an account with them a while back, and Sharebuilder charged $15 per stock sell. I had a couple hundred bucks in that account, so it made more sense for me to transfer the funds, rather than pay $15 per stock to close my position.

Have their sell trade fees changed since then?

]]> By: Jim http://www.thesunsfinancialdiary.com/investing/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/comment-page-1/#comment-12259 Jim Thu, 28 Jun 2007 15:56:17 +0000 http://www.thesunsfinancialdiary.com/investing/brokerage/account-transfer-from-sharebuilder-to-zecco-the-information-you-need/#comment-12259 Interesting. I contact Zecco's customer care to inquire about free dividend reinvestment of fractional shares and they replied back saying that it was not offered at this time. Were you told otherwise? Interesting. I contact Zecco’s customer care to inquire about free dividend reinvestment of fractional shares and they replied back saying that it was not offered at this time.

Were you told otherwise?

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