Brokers Accepting Elio Stock Transfers

[louleeman]

I thought I should clarify, personally, I am using Charles Schwab. They completed the transfer in about a week from when the received my written formal request. I did not have an existing account with Schwab, I do (did) have an existing account with TDAmeritrade. While there is a minimum of $1000 to open an account, basically anyone who bought the minimum amount now has that with where ELIO is trading.

I've let TD know they lost my business over this, I think they were asleep at the wheel with not accepting Reg A+ stock and I'm transferring everything from them over to Schwab.

Just to be clear, Charles Schwab does take ELIO stock transfer from VStock Transfer.

http://www.schwab.com/public/schwab/investing/accounts_products/accounts/brokerage_account/?src=NSG&sv1=Arf1McwN_dc&sv2=73328901860&keyword=+schwab +brokerage&device=c&adposition=1t1&matchtype=b&network=g&devicemodel=&placement=

No! Charles Schwab does NOT I have several accounts with them and they will NOT transfer them. I spoke with two different reps. I think something changed in the past few weeks.

 

[Coss]

No! Charles Schwab does NOT I have several accounts with them and they will NOT transfer them. I spoke with two different reps. I think something changed in the past few weeks.

When Elio stock first came up, ready to transfer a lot of people here went through the same thing; it appears that different offices in different parts of the country were making up rules of accepting and not accepting. As time went on, more and more places started accepting it that had said no before.
You might want to ask your CS office to contact corporate and ask them before turning people away. Seems that A+ is very new to a lot of places.

 

[BiloxiGeek]

Just for curiosity try buying Elio stock through your CS account. I just recently bought a small number of shares through my Fidelity account where my employee stock purchase program is managed. I'm just curious if they'll purchase stock for you but won't transfer from another broker.

 

[bowers baldwin]

I'm ready to buy at $20.50. Get your sell orders in.

Now?

 

[John Painter]

No! Charles Schwab does NOT I have several accounts with them and they will NOT transfer them. I spoke with two different reps. I think something changed in the past few weeks.

All my ELIO shares are with Charles Schwab. They were transferred directly from VStock Transfer. I did not have an existing Schwab account.

My suggestion is, do not talk with any reps. Download the transfer paperwork. Fill it out and send it in by regular mail. They will transfer based on that.

 

[bunchathrees]

My trade executed this morning. Thanks to those who took their profits (if they happen to even be readers of this forum). Reached my cap for the risky portion of my portfolio. That is, until I can grow the value of the other segments I play in. I might have more appetite in 6 months or so.

 

[Chris F]

Doesn't this service of someone handing
Stock cost,You have to open a account or something that requires a fee on a monthly basis?

Not mine. I just pay when I trade.

 

[Chris F]

Just for curiosity try buying Elio stock through your CS account. I just recently bought a small number of shares through my Fidelity account where my employee stock purchase program is managed. I'm just curious if they'll purchase stock for you but won't transfer from another broker.

Transfer is harder than buying in the market. Due diligence responsibilities are very different. The firms have not been educated on Reg A+. Unsolicited orders have much less responsibilities.

 

[HonestTex]

Doesn't this service of someone handing
Stock cost,You have to open a account or something that requires a fee on a monthly basis?

Depends on the brokerage firm you choose. Some have monthly fees, others don't. Research a lot before you pick one.

 

[louleeman]

No! Charles Schwab does NOT I have several accounts with them and they will NOT transfer them. I spoke with two different reps. I think something changed in the past few weeks.

I spoke with the Schwab folks in more detail (relative term). Apparently they were accepting the transfers until March 14th. Then some mandate within the company put it on a list. This mandate still allows those who already have the stock to sell it, and maybe you can buy more thru them, but you just cannot transfer it into Schwab if it was purchased elsewhere. That's the summary of what they told me.