Computershare Transfer Question

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
destin
Posts: 37
Joined: Wed Dec 27, 2017 3:20 pm

Computershare Transfer Question

Post by destin » Mon Apr 23, 2018 1:52 pm

I'm getting ambiguous official answers.

Has anyone here transferred shares from Computershare Transfer Agent to Vanguard? How was the process like and what specifically did you have to do to transfer shares? I only get annual statements from Computershare and I'm planning on mailing that, has that been a problem when transferring?

Did you need to get a medallion signature? Has anyone here transferred shares from Computershare to any brokerage and not require a medallion signature? If Vanguard is to difficult, it it easier to transfer to Fidelity or another brokerage?

Thank You

hale2
Posts: 172
Joined: Sat Feb 15, 2014 5:54 pm

Re: Computershare Transfer Question

Post by hale2 » Mon Apr 23, 2018 2:24 pm

Several years ago I tried to transfer Computershare stocks to Vanguard. Ended up being a major hassle so I donated that stock to my Fidelity DAF. It went smoothly so I transferred my other Computershare holdings to a regular Fidelity brokerage account. I don't recall having to get a medallion signature for Fidelity. I think the transfer from did have to be notarized though.

an_asker
Posts: 2173
Joined: Thu Jun 27, 2013 2:15 pm

Re: Computershare Transfer Question

Post by an_asker » Mon Apr 23, 2018 2:30 pm

destin wrote:
Mon Apr 23, 2018 1:52 pm
I'm getting ambiguous official answers.

Has anyone here transferred shares from Computershare Transfer Agent to Vanguard? How was the process like and what specifically did you have to do to transfer shares? I only get annual statements from Computershare and I'm planning on mailing that, has that been a problem when transferring?

Did you need to get a medallion signature? Has anyone here transferred shares from Computershare to any brokerage and not require a medallion signature? If Vanguard is to difficult, it it easier to transfer to Fidelity or another brokerage?

Thank You
DW recently did this - to Schwab not Vanguard. Compared to the pains I had to go through for a similar transaction two decades ago, this was a piece of cake. She had to log in to her Computershare account and enter the required information. Heck, she didn't even need my help. She did call and talk with the CSR over at Computershare. Apparently they would've done it over the phone as well.

YMMV, as Computershare accounts are company-specific, so your company might not be set up as easy to handle as DW's was. I would suggest giving them a call and find out what they say. Call Computershare that is, not Vanguard. You should have all Vanguard-related account information handy I would assume!

Scrapr
Posts: 172
Joined: Sun May 09, 2010 9:19 am

Re: Computershare Transfer Question

Post by Scrapr » Mon Apr 23, 2018 3:26 pm

I transferred some MCD shares from Computershare to Vanguard last summer. It wasn't particulary difficult. I did have 10 shares of a physical shares that mucked things up. I think we did do medallion signatures. But don't quote me on that. We had some other stuff going on at the time that needed Medallion.

I am kind of hazy on the details but think we did it all on the Vanguard side.

one thing that did make me grrr. In January i got a check from Computershare for about $10. There must have been a dividend on some part of the account. Probably the physical shares. That did not transfer. So now I have a 1099 from Computershare to account for next tax season

Sorry i can't be more specific. It ended up being easy enough

User avatar
abuss368
Posts: 12844
Joined: Mon Aug 03, 2009 2:33 pm
Location: Where the water is warm, the drinks are cold, and I don't know the names of the players!

Re: Computershare Transfer Question

Post by abuss368 » Mon Apr 23, 2018 3:36 pm

I have transferred many securities over the years especially back when trading individual stocks so I can understand the hassle and anxiety. I often called both the broker I was transferring from and also the broker I was transferring too in an attempt to avoid any pitfalls. This always worked well.
John C. Bogle: "You simply do not need to put your money into 8 different mutual funds!" | | Disclosure: Three Fund Portfolio + U.S. & International REITs

moehoward
Posts: 177
Joined: Mon Mar 05, 2018 10:16 am

Re: Computershare Transfer Question

Post by moehoward » Mon Apr 23, 2018 4:10 pm

I transferred shares from Computershare a couple of times in the past but it was to an online broker (ETRADE)

Iridium
Posts: 270
Joined: Thu May 19, 2016 10:49 am

Re: Computershare Transfer Question

Post by Iridium » Mon Apr 23, 2018 7:01 pm

I transferred some shares to Vanguard from a transfer agent (forget if it was ComputerShare or E-Trade). When I had Vanguard pull the shares, the transfer got stuck somehow. When I had the transfer agent push the shares, it was a piece of cake and happened quite easily. The normal advice on this forum is to pull shares when you transfer brokers. However, for transfer agents, I think the best course of action is to push. After all, transferring ought to be the specialty of a transfer agent. Since their real customer is the company and not you, there should not be the same foot dragging you might encounter with closing a brokerage account.

User avatar
Earl Lemongrab
Posts: 5468
Joined: Tue Jun 10, 2014 1:14 am

Re: Computershare Transfer Question

Post by Earl Lemongrab » Tue Apr 24, 2018 12:49 pm

moehoward wrote:
Mon Apr 23, 2018 4:10 pm
I transferred shares from Computershare a couple of times in the past but it was to an online broker (ETRADE)
Did you initiate at Etrade? That's how I usually do transfers, but I don't know if CS has any quirks. I also have some shares of company stock that they gave us in some profit-sharing program years back and I keep meaning to transfer to Merrill Edge.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

abner kravitz
Posts: 337
Joined: Tue May 05, 2015 7:42 am
Location: Beaufort County, SC

Re: Computershare Transfer Question

Post by abner kravitz » Tue Apr 24, 2018 1:39 pm

destin wrote:
Mon Apr 23, 2018 1:52 pm
I'm getting ambiguous official answers.

Has anyone here transferred shares from Computershare Transfer Agent to Vanguard? How was the process like and what specifically did you have to do to transfer shares? I only get annual statements from Computershare and I'm planning on mailing that, has that been a problem when transferring?

Did you need to get a medallion signature? Has anyone here transferred shares from Computershare to any brokerage and not require a medallion signature? If Vanguard is to difficult, it it easier to transfer to Fidelity or another brokerage?

Thank You
I've transferred shares from Computershare to Fidelity every year for the past 10 or so years. No medallion signature was ever required, but some years Fidelity made me print/sign the on-line request form and some years they haven't. When I did have to sign, I did it at the Fidelity branch near me and had them file it rather than mailing it in.

destin
Posts: 37
Joined: Wed Dec 27, 2017 3:20 pm

Re: Computershare Transfer Question

Post by destin » Thu Apr 26, 2018 1:18 pm

From the replies here, it looks like Vanguard has a mixed reputation when transferring from Computershare.

Vanguard is requesting a lot of paperwork with 3-4 weeks estimated transfer time. This is a direct registration transfer. It might be better to use another broker for this transfer.

destin
Posts: 37
Joined: Wed Dec 27, 2017 3:20 pm

Re: Computershare Transfer Question

Post by destin » Tue May 15, 2018 3:58 pm

Update.

Went with Fidelity. Everything was done online with Fidelity and the only thing they requested was a copy of the last statement from Computershare. They preferred a newer one but whatever you could provide to prove ownership was acceptable. They quoted 7 days, it was done in 4. Their website is a mess but if you make it through, it works. Overall, I'm impressed. Much better then the 3-4 weeks Vanguard was quoting.

Your experience may vary.

retouch1213
Posts: 1
Joined: Fri Sep 28, 2018 2:11 pm

Re: Computershare Transfer Question

Post by retouch1213 » Fri Sep 28, 2018 2:15 pm

I started a transfer from ComputerShare to Vanguard via Vanguard's website. After filling out their online forms they asked me to print it all out, add some additional materials, and mail it in. They said the transfer would then take about four weeks.

At this point I hadn't started the actual transfer process, so I decided to try Fidelity.

In one late evening sitting I opened a Fidelity account, and started the transfer online. No need to talk to anyone, mail anything, or get any papers from ComputerShare. They said the transfer was started and would be completed within 7 days. It was done within 4 days.

I'm now a huge fan of Fidelity for this use case.

hudson
Posts: 1487
Joined: Fri Apr 06, 2007 9:15 am

Re: Computershare Transfer Question

Post by hudson » Fri Sep 28, 2018 6:08 pm

destin wrote:
Mon Apr 23, 2018 1:52 pm
I'm getting ambiguous official answers.

Has anyone here transferred shares from Computershare Transfer Agent to Vanguard? How was the process like and what specifically did you have to do to transfer shares? I only get annual statements from Computershare and I'm planning on mailing that, has that been a problem when transferring?

Did you need to get a medallion signature? Has anyone here transferred shares from Computershare to any brokerage and not require a medallion signature? If Vanguard is to difficult, it it easier to transfer to Fidelity or another brokerage?

Thank You
I went to their website. I just kept chatting and calling them until the support agents got me where I wanted to go. They were very helpful....but I felt like I was asking, re-asking, and asking stupid questions. I finally figured it out. It was not an easy process. I ended up selling all...6 or so holdings and they sent me 6 checks.

FunnelCakeBob
Posts: 70
Joined: Fri Jul 20, 2018 5:44 pm

Re: Computershare Transfer Question

Post by FunnelCakeBob » Fri Sep 28, 2018 8:16 pm

I just transferred some stocks from Computershare to Merrill Edge. It was a cinch because I dealt only with ME. I used a ME transfer form, attached the stock statements from Computershare, and gave it to the investment analyst at ME. The ME form did not require a Medallion Signature Guarantee because the transfer was from one account type to the same account type (individual to individual; joint to joint). Transfer was done in about 2 days.

Keep in mind that Computershare will sell any fractional share and send you the proceeds. For most stocks, the termination and sales charges are $15 plus about $0.15 per share. Also, I had originally set it up as an ACH link to my bank account but saw that there was another $20-30 charge, which is a bit excessive. I deleted the bank details (to receive the proceed in the mail in check form) so I will not be charged this second fee.

User avatar
Earl Lemongrab
Posts: 5468
Joined: Tue Jun 10, 2014 1:14 am

Re: Computershare Transfer Question

Post by Earl Lemongrab » Fri Sep 28, 2018 8:23 pm

FunnelCakeBob wrote:
Fri Sep 28, 2018 8:16 pm
Keep in mind that Computershare will sell any fractional share and send you the proceeds. For most stocks, the termination and sales charges are $15 plus about $0.15 per share. Also, I had originally set it up as an ACH link to my bank account but saw that there was another $20-30 charge, which is a bit excessive. I deleted the bank details (to receive the proceed in the mail in check form) so I will not be charged this second fee.
To clarify, was there a fee on transferring the shares, or just for the sale of the fractionals?
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

FunnelCakeBob
Posts: 70
Joined: Fri Jul 20, 2018 5:44 pm

Re: Computershare Transfer Question

Post by FunnelCakeBob » Fri Sep 28, 2018 8:32 pm

Earl Lemongrab wrote:
Fri Sep 28, 2018 8:23 pm
FunnelCakeBob wrote:
Fri Sep 28, 2018 8:16 pm
Keep in mind that Computershare will sell any fractional share and send you the proceeds. For most stocks, the termination and sales charges are $15 plus about $0.15 per share. Also, I had originally set it up as an ACH link to my bank account but saw that there was another $20-30 charge, which is a bit excessive. I deleted the bank details (to receive the proceed in the mail in check form) so I will not be charged this second fee.
To clarify, was there a fee on transferring the shares, or just for the sale of the fractionals?
Computershare did not charge a fee for the transfer, just the account termination/sale of the fractional. Each stock has its own plan details but I believe most will charge $15 flat plus 12-15 cents per share.

User avatar
Earl Lemongrab
Posts: 5468
Joined: Tue Jun 10, 2014 1:14 am

Re: Computershare Transfer Question

Post by Earl Lemongrab » Fri Sep 28, 2018 8:37 pm

FunnelCakeBob wrote:
Fri Sep 28, 2018 8:32 pm
Computershare did not charge a fee for the transfer, just the account termination/sale of the fractional. Each stock has its own plan details but I believe most will charge $15 flat plus 12-15 cents per share.
You might want to see if Edge will cover the termination fee, if you haven't already asked about that.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

Horsefly
Posts: 282
Joined: Sat Oct 24, 2015 8:13 am
Location: Colorado, mostly

Re: Computershare Transfer Question

Post by Horsefly » Fri Sep 28, 2018 9:02 pm

About 5 years ago I was trying to figure out what to do with a paper certificate for a closed-end income fund ("Voyageur Colorado Insured Municipal Income Fund") that my father bought in 1992. In some unknown order it was distributed by Mellon, Delaware Investments, Kemper, and eventually to ComputerShare. It was in the name of our family limited liability limited partnership, and I'm the managing partner. I figured the right thing to do was to contact ComputerShare for information of how to liquidate it. What a cluster. They had apparently decided that the certificate had been lost or stolen because they hadn't heard from us for so long (not sure why we would have contacted them), so they were going to make it hard. They kept throwing more obstacles in my way, to the point that I was almost convinced I would have to just give up.

That was about the time that we were transferring our remaining partnership investments from Wells Fargo (another horrible experience) to Fidelity. I was already in the PCG status with Fidelity, so I asked the VP / PCG rep what I needed to do. She just asked me to bring the certificate to her and sign a couple of things. Next thing I new (like three business days later) it was in our account and then liquidated.

My impression was that computershare is horrible to deal with, but Fidelity does it enough that they knew exactly how to beat the house. Fidelity was awesome, and ComputerShare was not.

FunnelCakeBob
Posts: 70
Joined: Fri Jul 20, 2018 5:44 pm

Re: Computershare Transfer Question

Post by FunnelCakeBob » Fri Sep 28, 2018 9:32 pm

Horsefly wrote:
Fri Sep 28, 2018 9:02 pm
My impression was that computershare is horrible to deal with, but Fidelity does it enough that they knew exactly how to beat the house. Fidelity was awesome, and ComputerShare was not.
Agree regarding Computershare. I think they're stuck in the Stone Age and have outsource most its customer service outside the country. Dividend reinvestment plans were useful back when we had only landlines. But transactional costs for investors have been driven down since and we certainly have better choices nowadays.

jadedfalcons
Posts: 189
Joined: Sat Feb 04, 2017 8:55 pm

Re: Computershare Transfer Question

Post by jadedfalcons » Fri Sep 28, 2018 9:48 pm

While the OP has already finished their transfer, for the benefit of others who will come across this thread in the future, this past summer, I transferred my T stock to Vanguard. I called Vanguard on the phone regarding medallion signatures, because I couldn't find a local bank that could do them. Vanguard told me they weren't needed for Computershare. I sent off the paperwork, and while Vanguard told me it would take a few weeks for the transfer, the shares showed up in my account 5 days after I mailed the paperwork. No issues, and their phone service was prompt.

I was nervous about using them for this, since I've seen a lot of dogging on this point on this forum, but my experience went off without a hitch. Also, in my case, I ended up with a check for $3.40 after selling off a partial share, and zero fees.

RickBoglehead
Posts: 821
Joined: Wed Feb 14, 2018 9:10 am

Re: Computershare Transfer Question

Post by RickBoglehead » Fri Sep 28, 2018 10:56 pm

jadedfalcons wrote:
Fri Sep 28, 2018 9:48 pm
While the OP has already finished their transfer, for the benefit of others who will come across this thread in the future, this past summer, I transferred my T stock to Vanguard. I called Vanguard on the phone regarding medallion signatures, because I couldn't find a local bank that could do them. Vanguard told me they weren't needed for Computershare. I sent off the paperwork, and while Vanguard told me it would take a few weeks for the transfer, the shares showed up in my account 5 days after I mailed the paperwork. No issues, and their phone service was prompt.

I was nervous about using them for this, since I've seen a lot of dogging on this point on this forum, but my experience went off without a hitch. Also, in my case, I ended up with a check for $3.40 after selling off a partial share, and zero fees.
Check your Vanguard settlement account for a negative balance.

jadedfalcons
Posts: 189
Joined: Sat Feb 04, 2017 8:55 pm

Re: Computershare Transfer Question

Post by jadedfalcons » Sat Sep 29, 2018 10:24 am

RickBoglehead wrote:
Fri Sep 28, 2018 10:56 pm
jadedfalcons wrote:
Fri Sep 28, 2018 9:48 pm
While the OP has already finished their transfer, for the benefit of others who will come across this thread in the future, this past summer, I transferred my T stock to Vanguard. I called Vanguard on the phone regarding medallion signatures, because I couldn't find a local bank that could do them. Vanguard told me they weren't needed for Computershare. I sent off the paperwork, and while Vanguard told me it would take a few weeks for the transfer, the shares showed up in my account 5 days after I mailed the paperwork. No issues, and their phone service was prompt.

I was nervous about using them for this, since I've seen a lot of dogging on this point on this forum, but my experience went off without a hitch. Also, in my case, I ended up with a check for $3.40 after selling off a partial share, and zero fees.
Check your Vanguard settlement account for a negative balance.
Never got charged a fee from either side.

mpnret
Posts: 54
Joined: Sun May 20, 2018 9:16 am

Re: Computershare Transfer Question

Post by mpnret » Sat Sep 29, 2018 11:06 am

jadedfalcons wrote:
Sat Sep 29, 2018 10:24 am
RickBoglehead wrote:
Fri Sep 28, 2018 10:56 pm
jadedfalcons wrote:
Fri Sep 28, 2018 9:48 pm
While the OP has already finished their transfer, for the benefit of others who will come across this thread in the future, this past summer, I transferred my T stock to Vanguard. I called Vanguard on the phone regarding medallion signatures, because I couldn't find a local bank that could do them. Vanguard told me they weren't needed for Computershare. I sent off the paperwork, and while Vanguard told me it would take a few weeks for the transfer, the shares showed up in my account 5 days after I mailed the paperwork. No issues, and their phone service was prompt.

I was nervous about using them for this, since I've seen a lot of dogging on this point on this forum, but my experience went off without a hitch. Also, in my case, I ended up with a check for $3.40 after selling off a partial share, and zero fees.
Check your Vanguard settlement account for a negative balance.
Never got charged a fee from either side.
If you log onto your old Computershare account and click on recent transactions then more details for the transaction where they sold your partial share you will see a small transaction fee and a larger handling fee. The $3.40 check should be the net after the fees.
Last edited by mpnret on Sat Sep 29, 2018 6:57 pm, edited 1 time in total.

jadedfalcons
Posts: 189
Joined: Sat Feb 04, 2017 8:55 pm

Re: Computershare Transfer Question

Post by jadedfalcons » Sat Sep 29, 2018 1:09 pm

mpnret wrote:
Sat Sep 29, 2018 11:06 am
jadedfalcons wrote:
Sat Sep 29, 2018 10:24 am
RickBoglehead wrote:
Fri Sep 28, 2018 10:56 pm
jadedfalcons wrote:
Fri Sep 28, 2018 9:48 pm
While the OP has already finished their transfer, for the benefit of others who will come across this thread in the future, this past summer, I transferred my T stock to Vanguard. I called Vanguard on the phone regarding medallion signatures, because I couldn't find a local bank that could do them. Vanguard told me they weren't needed for Computershare. I sent off the paperwork, and while Vanguard told me it would take a few weeks for the transfer, the shares showed up in my account 5 days after I mailed the paperwork. No issues, and their phone service was prompt.

I was nervous about using them for this, since I've seen a lot of dogging on this point on this forum, but my experience went off without a hitch. Also, in my case, I ended up with a check for $3.40 after selling off a partial share, and zero fees.
Check your Vanguard settlement account for a negative balance.
Never got charged a fee from either side.
If you log onto your old Computershare account and click on recent transactions then more details for the transaction where they sold your partial share you will see a small transaction fee and a larger handling fee. The $3.40 check should be the net after these fees.
Maybe I'm special because it was an old employer sponsored account, but the day it transferred out, T closed at $32.62. I had 264.104xxxx shares. 264 shares transferred to Vanguard. .104xxxx shares sold. .104 * 32.62 = 3.39248, so whatever the x's were made it $3.40.

Sorry guys, I was just sharing my experience, I didn't know I'd have to defend whether or not I paid a fee that I didn't pay.

FunnelCakeBob
Posts: 70
Joined: Fri Jul 20, 2018 5:44 pm

Re: Computershare Transfer Question

Post by FunnelCakeBob » Sat Sep 29, 2018 3:28 pm

jadedfalcons wrote:
Sat Sep 29, 2018 1:09 pm
Sorry guys, I was just sharing my experience, I didn't know I'd have to defend whether or not I paid a fee that I didn't pay.
Thanks for sharing your experience, and I think your former employer's plan paid the fee that otherwise would have been imposed for the sale. My experience with most Computershare accounts is that they tend to be fee-heavy on transactions and will nickel and dime the accounts over time. It certainly didn't hurt your former employer took care of the fee on your behalf. I don't believe you were asked to defend the non-fee.

Post Reply