yakers
Thinks s/he gets paid by the post
Grumpy. Unclemick & others who have closed out your DRIP funds. I expect over the next year to stop contributing new money and dividend reinvestments in my DRIP stocks. I assume I just contact the agent and stop the DRIP program and have them issue the shares, selling any partial share, to me on paper. I would have dividends sent to me directly.
Then I expect I will open a brokerage account somewhere where I would have the shares transferred to street name and I would collect dividends into a sweep account. I could also then sell shares or buy other company stock. Is this what you did to close out your DRIP funds? Is there a brokerage you would recommend? I used to have an account with Quick & Riley. They were OK at first but they kept raising fees and charges that it wasn’t worth it at the time. I do have a Roth with Vanguard and my wife will have an IRA there. Although their fees are higher than the low cost places I do not expect to do a lot of trades, maybe two a year, and I just guess that they are not likely to change fees as quickly as other brokers. Any reason not to use them under these circumstances?
Then I expect I will open a brokerage account somewhere where I would have the shares transferred to street name and I would collect dividends into a sweep account. I could also then sell shares or buy other company stock. Is this what you did to close out your DRIP funds? Is there a brokerage you would recommend? I used to have an account with Quick & Riley. They were OK at first but they kept raising fees and charges that it wasn’t worth it at the time. I do have a Roth with Vanguard and my wife will have an IRA there. Although their fees are higher than the low cost places I do not expect to do a lot of trades, maybe two a year, and I just guess that they are not likely to change fees as quickly as other brokers. Any reason not to use them under these circumstances?