Have You Successfully Moved Global Stock to Schwab? UPDATE

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annielouise
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Have You Successfully Moved Global Stock to Schwab? UPDATE

Post by annielouise » Fri Sep 21, 2018 8:11 am

After 3 phone calls, I am no closer to getting the 7 pieces of information that Computershare is asking for to transfer stock. Am I chasing an impossible task? I know that 1 coworker has managed the transfer with TDAmeritrade. I've read online of success via Fidelity for transferring a foreign stock. Since we have a relationship already with Schwab (DAF, checking, and unused brokerage) and not the other 2, they are our first choice, but frustration is setting in!
Last edited by annielouise on Thu Oct 04, 2018 7:49 am, edited 1 time in total.

bloom2708
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by bloom2708 » Fri Sep 21, 2018 3:05 pm

You should contact Schwab and have them "pull" the shares in. Let them handle the transfer. That is what they do.
"We are not here to please, but to provoke thoughtfulness." --Unknown Boglehead

annielouise
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by annielouise » Fri Sep 21, 2018 3:43 pm

bloom2708 wrote:
Fri Sep 21, 2018 3:05 pm
You should contact Schwab and have them "pull" the shares in. Let them handle the transfer. That is what they do.
Thanks, but that's not an option. Computershare has to initiate the transfer.

UpperNwGuy
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by UpperNwGuy » Fri Sep 21, 2018 4:50 pm

annielouise wrote:
Fri Sep 21, 2018 3:43 pm
bloom2708 wrote:
Fri Sep 21, 2018 3:05 pm
You should contact Schwab and have them "pull" the shares in. Let them handle the transfer. That is what they do.
Thanks, but that's not an option. Computershare has to initiate the transfer.
Why?

tibbitts
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by tibbitts » Fri Sep 21, 2018 5:09 pm

UpperNwGuy wrote:
Fri Sep 21, 2018 4:50 pm
annielouise wrote:
Fri Sep 21, 2018 3:43 pm
bloom2708 wrote:
Fri Sep 21, 2018 3:05 pm
You should contact Schwab and have them "pull" the shares in. Let them handle the transfer. That is what they do.
Thanks, but that's not an option. Computershare has to initiate the transfer.
Why?
I have no idea, but I know that overall Bogleheads are far too optimistic about the ability of one company to pull funds from another. My discussions with both Fidelity and Vanguard concluded with neither being able to pull funds for me. Basically as they explained to me, there has to be essentially zero resistance on the other end for that to work.

annielouise
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by annielouise » Fri Sep 21, 2018 5:12 pm

UpperNwGuy wrote:
Fri Sep 21, 2018 4:50 pm
annielouise wrote:
Fri Sep 21, 2018 3:43 pm
bloom2708 wrote:
Fri Sep 21, 2018 3:05 pm
You should contact Schwab and have them "pull" the shares in. Let them handle the transfer. That is what they do.
Thanks, but that's not an option. Computershare has to initiate the transfer.
Why?
I guess because they make the rules? I asked and Computershare said they had to initiate the transfer.

The shares are from an ESPP and former company requires that shares are sold or transferred by 90 days after last day on payroll. Would prefer not to sell since our income is very high this year (for us) and a lot of shares are still short term capital gains.

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TimeRunner
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by TimeRunner » Fri Sep 21, 2018 5:33 pm

Is there a Schwab office within your driving tolerance that you can visit and take your forms to?
“Some depart to remain.”

annielouise
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by annielouise » Fri Sep 21, 2018 7:13 pm

TimeRunner wrote:
Fri Sep 21, 2018 5:33 pm
Is there a Schwab office within your driving tolerance that you can visit and take your forms to?
Sort of. I am keeping that option on the back burner. I would probably call first, since even the specialists on the phone are getting stumped. Would hate to make arrangements during working hours to visit the office only to have them not able to help either.

Today, I tried sending a message to Schwab with a screenshot of the form and a request to have someone who has successfully facilitated such a transfer contact me.

I was just posting here wishing that a BH could say " yes, it can be done because I did it" - just to give me a bit of hope.

Between the layoff, new job, and my FILs death, we are feeling overwhelmed with the hoops we have to jump through.

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TimeRunner
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by TimeRunner » Fri Sep 21, 2018 7:31 pm

annielouise wrote:
Fri Sep 21, 2018 7:13 pm
TimeRunner wrote:
Fri Sep 21, 2018 5:33 pm
Is there a Schwab office within your driving tolerance that you can visit and take your forms to?
Sort of. I am keeping that option on the back burner. I would probably call first, since even the specialists on the phone are getting stumped. Would hate to make arrangements during working hours to visit the office only to have them not able to help either.

Today, I tried sending a message to Schwab with a screenshot of the form and a request to have someone who has successfully facilitated such a transfer contact me.

I was just posting here wishing that a BH could say " yes, it can be done because I did it" - just to give me a bit of hope.

Between the layoff, new job, and my FILs death, we are feeling overwhelmed with the hoops we have to jump through.
Do call that local office first and make an appointment before you visit. The local office will have notary and medallion signature services (free) if needed, but the person(s) authorized to do that may not be available unless you set an appointment first. (This I know.) Best of luck.
“Some depart to remain.”

annielouise
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Re: Have You Successfully Moved Global Stock to Schwab? UPDATE

Post by annielouise » Thu Oct 04, 2018 7:54 am

So, the final response amounts to NO - we can not move global stock from Computershare (Europe) to Schwab.

Schwab will only provide certain info straight to Computershare. Computershare won't communicate with Schwab until we fill out the form that includes this info. Catch-22.

Since we have a deadline to sell or transfer the stock (former company deadline) we will have to sell. Two months wasted trying to get Schwab to work with us.

Maybe this time we will learn the lesson that ESPPs are sometimes not worth the effort.

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car733
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by car733 » Fri Oct 05, 2018 10:46 am

tibbitts wrote:
Fri Sep 21, 2018 5:09 pm
I have no idea, but I know that overall Bogleheads are far too optimistic about the ability of one company to pull funds from another. My discussions with both Fidelity and Vanguard concluded with neither being able to pull funds for me. Basically as they explained to me, there has to be essentially zero resistance on the other end for that to work.
Very weird. I did Wealthfront and Betterment to Vanguard without issues. Vanguard took care of everything for me.

typical.investor
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by typical.investor » Fri Oct 05, 2018 10:05 pm

car733 wrote:
Fri Oct 05, 2018 10:46 am
tibbitts wrote:
Fri Sep 21, 2018 5:09 pm
I have no idea, but I know that overall Bogleheads are far too optimistic about the ability of one company to pull funds from another. My discussions with both Fidelity and Vanguard concluded with neither being able to pull funds for me. Basically as they explained to me, there has to be essentially zero resistance on the other end for that to work.
Very weird. I did Wealthfront and Betterment to Vanguard without issues. Vanguard took care of everything for me.
They weren't transferring from Computershare (Europe) were they? Schwab will handle Wealthfront and Betterment easily too.

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car733
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Re: Have You Successfully Moved Global Stock to Schwab?

Post by car733 » Sat Oct 06, 2018 8:29 am

typical.investor wrote:
Fri Oct 05, 2018 10:05 pm
They weren't transferring from Computershare (Europe) were they? Schwab will handle Wealthfront and Betterment easily too.
I didn't know Computershare was EU. Perhaps the issue is with out of the us brokers?

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