Transfer of Assets to Sharebuilder Complete

It turns out that my transfer request of assets to Sharebuilder from Etrade is complete. In fact Sharebuilder impressed me again by having the stocks in my Sharebuilder account within 11 days of sending my transfer request in.

I'm happy to report that it looks like I was able to reduce my total transfer expense by qualifying for a partial transfer of assets. I just requested they transfer each stock holding to Sharebuilder instead of my entire Etrade account (including cash). I then just transferred my cash back to my checking about (via electronic transfer) and then requested they close my account. I was charged $25 for the partial transfer and nothing for the partial share liquidation/account closure. I saved $35 by requesting the partial transfer and then closing my account instead of the full account transfer which had a $60 fee that Etrade would have otherwise charged me.

It was a surprisingly smooth process and so far I am pleased with Sharebuilder's fast service.

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Comments (9)


DATE: 1:34 PM
Why ShareBuilder, if you don't mind me asking. Their fee structure is high. Compared to borkers like Scottstrade, they fall short on everything from price to research availability to product selection...

DATE: 3:44 PM
Sharebuilder is expensive, I agree. Have you looked into what it costs to sell? Also with the automatic treads you are going to get the highest price of the day. It's really best to use a discount broker and limit orders.

DATE: 4:48 PM
2million's attitude towards sharebuilder is penny-wise and pound-foolish. I really hope nobody ends up taking his advice on this subject. Scottrade is by far the best value out there for reputable online brokers. $7 trades (limit and market) with no maintenance fees and no other hidden costs.

DATE: 8:14 PM
Contrary to the anonymous posters above (who sound a lot like Scottrade PR people), I've had nothing but bad experiences while moving my accounts from Ameritrade to Scottrade. The cash from my Roth has not appeared in my Scottrade account, and the broker said, "It will show up. Check again at the end of the month and if it's not there, we'll look into it." I'm also missing a dividend payout (same response). I'm about ready to move my Scottrade accounts to ShareBuilder, once all my cash eventually shows up.Also, Scottrade does not do dividend reinvestments or allow ACH transfers. Both things that can be done at ShareBuilder. As someone who plans on making regular purchases, and holding on to them for a while, I'll come out way ahead on fees through my ShareBuilder account.

DATE: 8:26 PM
"Also, Scottrade does not do dividend reinvestments or allow ACH transfers. Both things that can be done at ShareBuilder. As someone who plans on making regular purchases, and holding on to them for a while, I'll come out way ahead on fees through my ShareBuilder account."Yeah, that's why I have a Sharebuilder account also. My Ameritrade iZone account is great for stock's that don't offer dividends -- only $5 a trade. But when I want to buy stocks that offer dividends and I want to hold these stocks for a LOOONNNGGGG time, Sharebuilder is the ONLY way to go. Free dividend reinvestments is what I want!

DATE: 9:58 PM
I have to agree with the latter commentors - I have nothing against Scottrade, I think with $7 trades and no minimums Scottrade seems like a better service than an alternative such as Etrade.However, as I previously discussed Sharebuilder service tailors itself to my trading habits. With regular investments in select stocks and dividend reivnestment my total cost is signifacntly lower if I use Sharebuilder over Scottrade or anyone else.

DATE: 6:14 PM
It's interesting to read things from the individual's perspective or retail side of investing. I am an advisor and we use TD Ameritrade, formally Waterhouse. I was wondering if you or anyone else out there has any experience in dealing with primarily mutual fund trading? Do you encounter transaction fees plus loads? We have most of this stuff waived through the advisor channel. Would love to hear opinions on this matter though. Is Scottrade the best for this type of investing for individuals, Fidelity? You can leave comments on my blog about this topic. www.twentysomethingfinance.blogspot.comThanks.

DATE: 5:29 PM
why buy individual stocks anyway?most people end up trailing the market, sometimes significantly so. i thought 2million would be a diehard indexing fan, but i guess not.after years of trying to outperform my mutual funds with individual stock picks, i gave up.i'm a huge fan of vanguard and have all my investments there. their money market account has the #1 ranking (i know it sounds silly to worry about MM funds, but it adds up) and their index funds are unbeatable PLUS they have great low-cost active funds with spectacular records (check out Healthcare, Primecap, Energy, or Star for a balanced fund). that's my salespitch. and no i'm no an employee, just a ravingly happy customer.

I use Scottrade for Realtime orders and Sharebuilder for Automatic long term investing plans. Works wonderful.

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A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $1,574,185

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