Has anyone recently transferred shares from Computershare to Vanguard?

Have a question about your personal investments? No matter how simple or complex, you can ask it here.
Post Reply
Topic Author
anon_investor
Posts: 127
Joined: Mon Jun 03, 2019 1:43 pm

Has anyone recently transferred shares from Computershare to Vanguard?

Post by anon_investor » Wed Jun 05, 2019 12:49 pm

I have some shares from 2 different companies held with Computershare and I am considering transferring them to Vanguard. Has anyone done this recently? There are some older threads with some people saying it was a breeze and some saying it was a pain.

I do not plan on selling the shares any time soon, but since I already have my IRAs and other taxable investments with Vanguard, it would mean one less account to track. I read selling through Computershare is expensive. Having my shares at Vanguard, might make it easier for me to do some tax loss harvesting in the future as well.

Thanks in advance!

miamivice
Posts: 1804
Joined: Tue Jun 11, 2013 11:46 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by miamivice » Wed Jun 05, 2019 12:53 pm

anon_investor wrote:
Wed Jun 05, 2019 12:49 pm
I have some shares from 2 different companies held with Computershare and I am considering transferring them to Vanguard. Has anyone done this recently? There are some older threads with some people saying it was a breeze and some saying it was a pain.

I do not plan on selling the shares any time soon, but since I already have my IRAs and other taxable investments with Vanguard, it would mean one less account to track. I read selling through Computershare is expensive. Having my shares at Vanguard, might make it easier for me to do some tax loss harvesting in the future as well.

Thanks in advance!
I did about 12 years ago. No issues.

Topic Author
anon_investor
Posts: 127
Joined: Mon Jun 03, 2019 1:43 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by anon_investor » Wed Jun 05, 2019 1:12 pm

[/quote]

I did about 12 years ago. No issues.
[/quote]

Did you have to pay any fees to Computershare? Does the process require mailing anything in or can it all be done via online?

Thanks!

funinthesun
Posts: 5
Joined: Sat May 06, 2017 1:42 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by funinthesun » Wed Jun 05, 2019 1:37 pm

I transferred common stock to Fidelity and Fidelity took care of everything on their end. But I had one stock in trust that ended up being a nightmare! Computershare runs in the ice age, everything has to be done through the mail and lost the forms I sent in twice and another returned to me. Finally got it done, no fees!

retiringwhen
Posts: 1161
Joined: Sat Jul 08, 2017 10:09 am
Location: New Jersey, USA

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by retiringwhen » Wed Jun 05, 2019 2:46 pm

funinthesun wrote:
Wed Jun 05, 2019 1:37 pm
I transferred common stock to Fidelity and Fidelity took care of everything on their end. But I had one stock in trust that ended up being a nightmare! Computershare runs in the ice age, everything has to be done through the mail and lost the forms I sent in twice and another returned to me. Finally got it done, no fees!
I did similar for two stocks, one a Common Stock (PEG) and another in an Employee Stock ownership account about 6 years ago. It required medallion signatures and lots of paper mail, but it went smoothly (and slowly) probably about 30 days to get it all done.

TheMadEph
Posts: 72
Joined: Thu May 24, 2018 11:25 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by TheMadEph » Wed Jun 05, 2019 2:55 pm

I did it to Vanguard about 2 years ago, and it was a bit of a hassle. I had to have a couple of phone calls with Computershare and they were not very efficient or effective. Lost all of the data on cost basis of course, so will have to eventually donate all of those shares to the DAF probably.
But so worth it, to avoid all of their stupid fees for running a DRIP.

*edited: I said Fidelity first for some reason, but it was a transfer to Vanguard.

HomeStretch
Posts: 800
Joined: Thu Dec 27, 2018 3:06 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by HomeStretch » Wed Jun 05, 2019 9:35 pm

I did it about 2 years ago with Vanguard. Took about 2 weeks but turned out fine.

Required paper account transfer form, recent Computershare stock statement or print screen, and medallion guarantee to be mailed to Vanguard, who initiated the transfer. I also had to send an additional form (affidavit) as my name on the account registration at Computershare was not identical to the Vanguard account registration. If your shares are certificated, you need to send the paper certificates with the account transfer paperwork. Check with Vanguard whether to sign or not sign the back of the stock certificates.

No Computershare fee for the ACAT transfer to Vanguard. However, only whole shares will transfer. Computershare sold the fractional DRIP share, charged a $20-$25 fee for brokering the sale and sent me a check by mail for the net amount.

Print the cost basis records from the Computershare website before the transfer is finalized. The info should transfer to Vanguard but doublecheck it to make sure the cost basis picked up by Vanguard is correct.

Topic Author
anon_investor
Posts: 127
Joined: Mon Jun 03, 2019 1:43 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by anon_investor » Thu Jun 06, 2019 8:22 pm

Thanks everyone, I am going to give this a try once my stocks pay their dividends later this month. I will update with my experience, wish me luck...

CashConfessions
Posts: 20
Joined: Sun Apr 02, 2017 10:24 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by CashConfessions » Sat Jun 08, 2019 6:40 am

retiringwhen wrote:
Wed Jun 05, 2019 2:46 pm
funinthesun wrote:
Wed Jun 05, 2019 1:37 pm
I transferred common stock to Fidelity and Fidelity took care of everything on their end. But I had one stock in trust that ended up being a nightmare! Computershare runs in the ice age, everything has to be done through the mail and lost the forms I sent in twice and another returned to me. Finally got it done, no fees!
I did similar for two stocks, one a Common Stock (PEG) and another in an Employee Stock ownership account about 6 years ago. It required medallion signatures and lots of paper mail, but it went smoothly (and slowly) probably about 30 days to get it all done.
Had to do it for accounts in my Dad's name when he was in a nursing home. Medallion signature guarantees in that situation made it such a pain that we ended up selling off a few smaller positions and taking the tax hit rather than transferring them. But when I did the same for holdings in my Mom's name, it was straightforward, if tedious. Good luck.

mpnret
Posts: 177
Joined: Sun May 20, 2018 9:16 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by mpnret » Sat Jun 08, 2019 6:51 am

I transferred from Computershare to Vanguard less than a year ago. It wasn't too bad. Everything was done over the phone and by email. I did have to download statements from CS and email them to Vanguard. No medallion signature required. After the transfer completed I was left with some partial shares at CS that wouldn't transfer that I had to sell.

Topic Author
anon_investor
Posts: 127
Joined: Mon Jun 03, 2019 1:43 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by anon_investor » Sat Jun 15, 2019 10:54 pm

mpnret wrote:
Sat Jun 08, 2019 6:51 am
I transferred from Computershare to Vanguard less than a year ago. It wasn't too bad. Everything was done over the phone and by email. I did have to download statements from CS and email them to Vanguard. No medallion signature required. After the transfer completed I was left with some partial shares at CS that wouldn't transfer that I had to sell.
Lucky you... I finally started this painful process this week, and I will have to do multiple forms since I have shares with multiple companies and need medallion guarantees. At least I can get medallion guarantee for free at my local bank. Hopefully since I only own whole shares, once I send out all the paperwork everything else will run smoothly...

SGM
Posts: 2979
Joined: Wed Mar 23, 2011 4:46 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by SGM » Sun Jun 16, 2019 4:34 pm

I had Computershare give me all shares as stock certificates. I don't know if they do that anymore. I always kept good records of the dividends I received each year and any purchases I made in that year. I kept the last statement of the year for each company. So I never had a problem determining my basis for the stocks I had in a DRIP. Every year I had a running total of the costs of my stocks. It is important to stop the dividend reinvesting before you transfer or you may get a partial share that you have to deal with.

Faith20879
Posts: 610
Joined: Fri Mar 02, 2007 10:16 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by Faith20879 » Mon Jun 17, 2019 9:06 am

anon_investor wrote:
Sat Jun 15, 2019 10:54 pm
...multiple companies and need medallion guarantees. ...
Yes that's the case for me as well. Had three stocks with Computershare(CS), one transferred last year and two to do this year.

I needed the medallion signature for the one completed and was told also need for the other two, no exception.

The cost basis did not follow from CS. I had to supply a CSV file to VG afterwards. First I thought VG would just import the file, but no, evidently they must've typed everything in manually. The results were marred with errors and I had to ask for correction multiple times. The back and forth took about 40 days and still not completely right. Since the differences are small enough now I just gave peace. Hopefully the next one will be easier.

mpnret
Posts: 177
Joined: Sun May 20, 2018 9:16 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by mpnret » Mon Jun 17, 2019 10:12 am

Faith20879 wrote:
Mon Jun 17, 2019 9:06 am
anon_investor wrote:
Sat Jun 15, 2019 10:54 pm
...multiple companies and need medallion guarantees. ...
Yes that's the case for me as well. Had three stocks with Computershare(CS), one transferred last year and two to do this year.

I needed the medallion signature for the one completed and was told also need for the other two, no exception.

The cost basis did not follow from CS. I had to supply a CSV file to VG afterwards. First I thought VG would just import the file, but no, evidently they must've typed everything in manually. The results were marred with errors and I had to ask for correction multiple times. The back and forth took about 40 days and still not completely right. Since the differences are small enough now I just gave peace. Hopefully the next one will be easier.
I guess I lucked out on this. I mentioned above that less than a year ago I moved my stocks fro CS to Vanguard. No medallion sig required. There was a spot on the forms for the sig but Vanguard rep told me to ignore it. VG emailed me the forms I printed them, signed them, scanned and emailed them back. I also scanned and emailed latest statements for each stock. It was about 8 blue chips. Close to 1/2 mil in total value. Looks like CS won't transfer partial shares so CS sold them and sent me a check.

Topic Author
anon_investor
Posts: 127
Joined: Mon Jun 03, 2019 1:43 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by anon_investor » Thu Jun 27, 2019 9:32 pm

Update:
I got one set of shares transferred no issues. Waiting for the other 2 sets...

Faith20879
Posts: 610
Joined: Fri Mar 02, 2007 10:16 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by Faith20879 » Fri Jun 28, 2019 12:53 pm

Did your cost basis follow? Just curious.

Topic Author
anon_investor
Posts: 127
Joined: Mon Jun 03, 2019 1:43 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by anon_investor » Fri Jun 28, 2019 1:09 pm

Faith20879 wrote:
Fri Jun 28, 2019 12:53 pm
Did your cost basis follow? Just curious.
Lucky or unlucky for me they are for noncovered shares which have a 0 cost basis, so that was not a concern.

User avatar
Earl Lemongrab
Posts: 7270
Joined: Tue Jun 10, 2014 1:14 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by Earl Lemongrab » Sat Jun 29, 2019 12:42 pm

anon_investor wrote:
Fri Jun 28, 2019 1:09 pm
Lucky or unlucky for me they are for noncovered shares which have a 0 cost basis, so that was not a concern.
Well, they still have a cost basis, just not one the custodian is required to track. However, every one I have used, including Computershare, did track the basis.

I transferred lots of non-covered assets over the years and basis always went along. With ACATS it often takes a week or so for that to catch up.

User avatar
SurfCityBill
Posts: 471
Joined: Tue May 01, 2012 10:15 pm
Location: Western United States

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by SurfCityBill » Sun Jun 30, 2019 10:25 am

Just transferred shares from Computershare to Chas Schwab. Very easy and no cost incurred. No cost basis because shares were from a demutualized insurance company that the IRS says so. :annoyed

FrankLUSMC
Posts: 143
Joined: Tue Nov 28, 2017 1:43 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by FrankLUSMC » Sun Jun 30, 2019 12:52 pm

SurfCityBill wrote:
Sun Jun 30, 2019 10:25 am
Just transferred shares from Computershare to Chas Schwab. Very easy and no cost incurred. No cost basis because shares were from a demutualized insurance company that the IRS says so. :annoyed
I have some Metlife shares at Computershare, small amount but will probably transfer within a month.

Just sent the documents to Vanguard to transfer 2 accounts at Computershare for my wife. I will update when I see movement. Did not use medallion signature as her names on Vanguard match names on Computershare.

FrankLUSMC
Posts: 143
Joined: Tue Nov 28, 2017 1:43 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by FrankLUSMC » Tue Jul 09, 2019 5:00 pm

FrankLUSMC wrote:
Sun Jun 30, 2019 12:52 pm
SurfCityBill wrote:
Sun Jun 30, 2019 10:25 am
Just transferred shares from Computershare to Chas Schwab. Very easy and no cost incurred. No cost basis because shares were from a demutualized insurance company that the IRS says so. :annoyed
I have some Metlife shares at Computershare, small amount but will probably transfer within a month.

Just sent the documents to Vanguard to transfer 2 accounts at Computershare for my wife. I will update when I see movement. Did not use medallion signature as her names on Vanguard match names on Computershare.
So I mailed the paper work for the transfers into Vanguard on Monday the 1st July. Got an email on Friday that things were moving. Logged into Computershare yesterday and the accounts are showing 0 stocks. So 5 working days including snail mail transit. I'm sure a whole lot faster if I had scanned and mailed back. Scanner problems!! :x

Nothing in the Vanguard brokerage yet, they said 2-3 days usually to show into account. No medallion sig. necessary if the registration is exactly the same on both accounts of the transaction.

Topic Author
anon_investor
Posts: 127
Joined: Mon Jun 03, 2019 1:43 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by anon_investor » Tue Jul 09, 2019 5:31 pm

FrankLUSMC wrote:
Sun Jun 30, 2019 12:52 pm
SurfCityBill wrote:
Sun Jun 30, 2019 10:25 am
Just transferred shares from Computershare to Chas Schwab. Very easy and no cost incurred. No cost basis because shares were from a demutualized insurance company that the IRS says so. :annoyed
I have some Metlife shares at Computershare, small amount but will probably transfer within a month.

Just sent the documents to Vanguard to transfer 2 accounts at Computershare for my wife. I will update when I see movement. Did not use medallion signature as her names on Vanguard match names on Computershare.
If you have metlife shares in trust you have to send paperwork to computershare to get them out of the trust, but you will lose the ability to sell commission free. I ran into that and decided to keep them at computershare to preserve that commission free sale option in the future.

cody69
Posts: 58
Joined: Sat May 03, 2014 7:46 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by cody69 » Tue Jul 09, 2019 6:58 pm

I have employee stock with Computershare and which I decided to transfer to Vanguard earlier today.
I called Vanguard, and the support rep conferenced in the Computershare team in the UK to setup all the necessary details.
After about 20 minutes, all the necessary details were clarified, and the VG rep coordinates the setup of a brokerage account to hold the shares.
Tomorrow I will execute the transfer transaction... and hope that we didn't miss anything.

I was really impressed with the support from Vanguard... amazes me how patient they were and willing to put in the extra effort.

averagedude
Posts: 645
Joined: Sun May 13, 2018 3:41 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by averagedude » Tue Jul 09, 2019 7:04 pm

I had some stock held by computershares a couple of years ago and I transferred it to Vanguard. If my memory is correct, I had to print off a form from Vanguard, get a medallion signature from my bank on this form, and sent it by registered mail to Vanguard. That is all i had to do, not hard but not really easy either. Of course expect a couple of weeks before you see this transaction take place.

informal guide
Posts: 259
Joined: Mon Aug 29, 2016 10:26 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by informal guide » Tue Jul 09, 2019 7:28 pm

a couple months ago, a close relative transferred employee stock purchase shares (from a large NYSE listed company) from Compushare to Vanguard brokerage - -a one week process that did not require a signature guarantee - just a form via snail mail with a copy of statement. Much to my surprise, within one more week, the cost basis of specific lots was successfully listed at Vanguard (all shares were purchased after brokerages were required to track and report cost basis). In sum, quite simple and straightforward.

mpnret
Posts: 177
Joined: Sun May 20, 2018 9:16 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by mpnret » Wed Jul 10, 2019 5:26 pm

informal guide wrote:
Tue Jul 09, 2019 7:28 pm
a couple months ago, a close relative transferred employee stock purchase shares (from a large NYSE listed company) from Compushare to Vanguard brokerage - -a one week process that did not require a signature guarantee - just a form via snail mail with a copy of statement. Much to my surprise, within one more week, the cost basis of specific lots was successfully listed at Vanguard (all shares were purchased after brokerages were required to track and report cost basis). In sum, quite simple and straightforward.
I had a similar experience except instead of sending the form and statements snail mail I scanned and emailed them.

cody69
Posts: 58
Joined: Sat May 03, 2014 7:46 am

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by cody69 » Wed Jul 10, 2019 8:36 pm

As a follow-up to my earlier post, I initiated the transfer transaction this morning via the Computershare on-line system.
A pop-up message indicated it would take up to 5 days for the transfer to execute.
I spoke to a Computershare rep on this and was told they first need to communicate with Vanguard and confirm details... and they do this via email.
It's longer than I was hoping for, but certainly something I can live with.

Loon11
Posts: 278
Joined: Wed Feb 29, 2012 6:07 pm

Re: Has anyone recently transferred shares from Computershare to Vanguard?

Post by Loon11 » Wed Jul 10, 2019 9:01 pm

good luck. I started transferring my Computershare stocks to Vanguard but it got very confusing and I was told wrong info. So I decided to transfer them to Fidelity (where I have a small fund). It was painless and they took care of everything - all I had to do was upload my stock statement. I also transferred from Equiniti to Fidelity without issues. The only thing that was irritating was a couple of companies won't hold partial shares and to sell a fraction of a share cost almost as much as the share.

Post Reply