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I have some Home Depot stock that I have had for over 20 years. Currently it is held by Computershare. I may need to sell this in the next few months, but the conditions and fees that Computershare charge are not reasonable. I would like to move this stock to one of the online trading companys so it will be easier to sell when and if I need to. I will also add that there is a chance I may not need to sell this stock, so it may just sit wherever it gets moved to for awhile. I will want automatic dividend reinvestment if that makes a difference. Any advice on which online trading company to use, or any other tips would be greatly appreciated. Thanks!
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I don't think that you will be able to move it someplace else without first liquidating it to cash. You will probably be stuck paying the fees.Brian -
No you can transfer stocks between brokerages. You simply need to contact the new brokerage and get a Transfer Initiation Form. They should take care of the rest.Originally posted by bjl584 View PostComment
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I called Computershare a couple weeks ago, and they said that I could transfer the stocks out of there. I just need to figure out where I am going to transfer them to. Not only does Computershare get high fees to sell the stock, they also don't sell until they have enough grouped together to make their minimum sell. This would mean that I would have no control over when it got sold, or what the stock was priced at when it sold. I could loose hundreds of dollars if the price drops just 50 cents between when I place the sell order, and when they actually sell it.Originally posted by bjl584 View PostComment
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Well, what do you want to do with the shares? Do you want to keep them? Sell them? If you sell them, how would you reinvest the money? What sort of investing/trading do you plan on doing? What level of advice do you need from the firm?
To a certain extent, this question is like asking "what's the best gym?" -- it depends on what you plan on going there for, and if you'll actually use it.Comment
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I have my brokerage account at the same place that I have my IRA + Roth (Retirement) accounts. The reason is leverage. I am able to get certain perks for the amount of money held in one place. Some people like to have it in multiple places based on specialties, but I like to keep things simple.
I don't know you but I am assuming you like to keep things simple too based on keeping stock in one brokerage for 20 years.
Which company holds your retirement accounts? Most likely that company has a brokerage side to them.
I would also suggest talking with your accountant on the proposed selling of your HD stock. You have substantial gains going back 20 years and he would be the best person to talk to about trying to keep as much as you can from the IRS.
Good luck.Comment
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Thanks a lot for all the replies!Originally posted by jpg7n16 View Post
I am building an addition, and I might need the money from the Home Depot stock to finish that. I will not be selling the HD stock to buy other stocks. I don't really need any advise from the firm, just somewhere that I can put in a order to sell when it reaches x amount of $ and have them do it. There is also a possibility that I won't need the money, so in that case I would keep the stock and it would just sit there. I would want wherever it is sitting to be able to automatically reinvest the dividends back into more HD stock.Comment
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If all you need is a bike, just about any gym will do.Originally posted by dodger440 View Post
Any firm that trades stocks can help you place a sell order. And dividend reinvestment is free at most major firms. Fidelity, Vanguard, etc.
Is the HD stock all that you own? If you end up holding onto it, you should consider diversifying away from only one position. Spread the risk out.Comment
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