Capital One Investing Roth IRA moving to E Trade no divident reinvestment

[Permanent Temp]

Hello,

I have a small amount of money stashed away in a Roth IRA but I just found out that capital one is moving the account to E-trade which will no longer let me do automatic dividend reinvestment.

The account only has 5 K in it. Does anyone have any suggestions as to another place I can move the money where I can do automatic dividend reinvestment?

[james.hendrickson]

Hello,

I have a small amount of money stashed away in a Roth IRA but I just found out that capital one is moving the account to E-trade which will no longer let me do automatic dividend reinvestment.

The account only has 5 K in it. Does anyone have any suggestions as to another place I can move the money where I can do automatic dividend reinvestment?

Two reputable places to consider:

1. schwab.com
2. fidelity.com

[bjl584]

I have a Fidelity account and am happy with their service.

[Jluke]

Hello,

I have a small amount of money stashed away in a Roth IRA but I just found out that capital one is moving the account to E-trade which will no longer let me do automatic dividend reinvestment.

The account only has 5 K in it. Does anyone have any suggestions as to another place I can move the money where I can do automatic dividend reinvestment?

I think you have bad info.

Capital One is discontinuing the automatic dividend reinvestment as of July 13, 2018. this is to prepare for the switch to E*Trade.

E*TRADE allows for dividend re-investment from what I've read.

[Permanent Temp]

I think you have bad info.

Capital One is discontinuing the automatic dividend reinvestment as of July 13, 2018. this is to prepare for the switch to E*Trade.

E*TRADE allows for dividend re-investment from what I've read.

Hello,

This is what I saw in the email which is why I posted here. It didn't say it was temporary but it did say after July it won't be happening.

"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."

[Jluke]

Hello,

This is what I saw in the email which is why I posted here. It didn't say it was temporary but it did say after July it won't be happening.

"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."

guess we'll find out when they switch us over...

[Like2Plan]

I left E*TRADE a few years ago, but they did offer dividend reinvestment for individual stocks when I was there. Dividend reinvestment is not the default--dividends will go into your sweep account unless you elect dividend reinvestment or another option.

I have read about problems with dividend reinvestment on certain ETFs at E*Trade, though. (I didn't have ETFs, so I don't have any first hand info on that).

https://www.bogleheads.org/forum/viewtopic.php?t=224252

E*TRADE charged me a $50.00 exit fee on my IRA when I left (I think it might now be $75.00) so if you think you might want to go elsewhere, you might want to make that decision before they transfer you.

[TheCudder]

I left E*TRADE a few years ago, but they did offer dividend reinvestment for individual stocks when I was there. Dividend reinvestment is not the default--dividends will go into your sweep account unless you elect dividend reinvestment or another option.

I have read about problems with dividend reinvestment on certain ETFs at E*Trade, though. (I didn't have ETFs, so I don't have any first hand info on that).

https://www.bogleheads.org/forum/viewtopic.php?t=224252

E*TRADE charged me a $50.00 exit fee on my IRA when I left (I think it might now be $75.00) so if you think you might want to go elsewhere, you might want to make that decision before they transfer you.

CapitalOne charges $75.00 as well. I'm in the process of transferring from them to Fidelity.

[Gailete]

I just took my fractional shares out of 3 of my stocks in preparation for this. Capital One isn't currently charging a commission on the sales. I will have to do it to two more stocks, but they both should have dividends applied, which may change their fractional amounts, before the cut off date. Once those fractional shares are sold I will put them into my IRA to increase those shares to whole numbers. If it isn't enough, then I will sell any fractionals in that account. before the deadline.

I hate messing around with them since bull or bear market talk, my shares are at their highest point ever today! Nearer the end of this month, I will have to decide exactly what I want in my IRA and what in my pure stock account, although there is some overlap.

At this point, I am going with the flow to E-trade. I can't afford to be paying fees and the tax consequences of selling completely out and going elsewhere. For the most part I have been very happy with what I have been doing and how my stocks are preforming.

[TheCudder]

CapitalOne charges $75.00 as well. I'm in the process of transferring from them to Fidelity.

Just an update, but CapitalOne didn't charge me a transfer fee.