Fractional Shares?

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Barefootgirl
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Fractional Shares?

Post by Barefootgirl » Mon May 21, 2018 12:01 pm

I have transferred an Ameritrade account to Vanguard. Apparently, as part of the transaction, a fractional share remains at Ameritrade. Their normal transaction feeds exceed the value of the fraction.

What usually happens in these cases? sounds like a crazy question, but can you just say - you can have it? LOL.


Thanks
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.

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Pajamas
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Re: Fractional Shares?

Post by Pajamas » Mon May 21, 2018 12:05 pm

What did Ameritrade say when you contacted them to ask about this?

https://www.tdameritrade.com/why-td-ame ... ct-us.page

mega317
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Joined: Tue Apr 19, 2016 10:55 am

Re: Fractional Shares?

Post by mega317 » Mon May 21, 2018 12:10 pm

How long ago did you move the account? It might move automatically after a few days.
Edit: wrong
Last edited by mega317 on Mon May 21, 2018 6:44 pm, edited 1 time in total.

alex_686
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Re: Fractional Shares?

Post by alex_686 » Mon May 21, 2018 12:17 pm

Fractional shares can't be transferred. They are a service offered by brokers and thus strictly a internal process. Every brokerage house that I know off automatically sells the shares to themselves using end of day prices.

jwkde
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Joined: Thu Feb 04, 2010 2:42 pm

Re: Fractional Shares?

Post by jwkde » Mon May 21, 2018 12:25 pm

I just did the exact same thing TD-->VG and there were fractional shares

TD converted the fractional to $ (no transaction fee) and sent the cash over to VG with the whole shares.

TD sent me a confirmation showing all of the fractional to $ details.

It went easy

Barefootgirl
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Re: Fractional Shares?

Post by Barefootgirl » Mon May 21, 2018 2:51 pm

Thanks jkwde - I have confirmed the same.
How many retired people does it take to screw in a lightbulb? Only one, but he takes all day.

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oldcomputerguy
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Re: Fractional Shares?

Post by oldcomputerguy » Mon May 21, 2018 3:06 pm

jwkde wrote:
Mon May 21, 2018 12:25 pm
I just did the exact same thing TD-->VG and there were fractional shares

TD converted the fractional to $ (no transaction fee) and sent the cash over to VG with the whole shares.

TD sent me a confirmation showing all of the fractional to $ details.

It went easy
DW did same from Scottrade --> VG, fractional shares were sold to cash.
It’s taken me a lot of years, but I’ve come around to this: If you’re dumb, surround yourself with smart people. And if you’re smart, surround yourself with smart people who disagree with you.

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