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Posted by thomasb369@yahoo.com on July 20, 2008, 10:03 am
Hi everybody,
I bought shares of Apple stock through A.G. Edwards back before the
days of online trading. The value of my little investment has grown
considerably, and I'd now like to sell them and invest the money in a
house. My question is: do I have to go through A.G. Edwards to sell,
or is there a way to sell them myself online and avoid paying a hefty
commission? If so, how would you recommend I go about it?
Thank you for your patience with what I'm sure is a dumb, newbie
question.
:-) Tommy
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Posted by John Galt on July 20, 2008, 11:15 am
> Hi everybody,
>
> I bought shares of Apple stock through A.G. Edwards back before the
> days of online trading. The value of my little investment has grown
> considerably, and I'd now like to sell them and invest the money in a
> house. My question is: do I have to go through A.G. Edwards to sell,
> or is there a way to sell them myself online and avoid paying a hefty
> commission? If so, how would you recommend I go about it?
>
> Thank you for your patience with what I'm sure is a dumb, newbie
> question.
>
> :-) Tommy
If I'm not mistaken, online/traditional is pretty irrelevant as it pertains
to the transferring of accounts. You can open an account with Ameritrade (or
whoever), then fill out whatever forms they need to tell AGE to transfer
your account. After a couple of weeks, your AAPL shares will appear in your
Ameritrade account, and you can do with them whatever you want.
JG
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Posted by Lubow on July 20, 2008, 12:52 pm
Hello, thomasb369@yahoo.com!
You can have AG Edwards transfer the certificate to an online broker but that's
going to cost you around $75. A better way is to ask AGE to mail to you the
Apple certificate. When you get the certificate (should take 2-6 weeks) fill
out an application with an online broker, sign the back of the certificate and
mail it to the broker. You may want to send the certificate, if it's worth more
than $10K, via registered mail.
Most online brokers will give you a month of free commissions so this process
will not cost you a dime. Also consider this:
Call up AGE and just tell the broker that you need to cash out of your Apple
stock but you do not want to pay more than say, $10 for commission and you do
not want to leave AG Edwards for a discount broker. The broker may do you that
favor, i.e., sell your stock for a minimal commission, which means you can get
your cash after three days.
Lubow.
You wrote on Sun, 20 Jul 2008 07:03:08 -0700 (PDT):
>Hi everybody,
>I bought shares of Apple stock through A.G. Edwards back before the
>days of online trading. The value of my little investment has grown
>considerably, and I'd now like to sell them and invest the money in a
>house. My question is: do I have to go through A.G. Edwards to sell,
>or is there a way to sell them myself online and avoid paying a hefty
>commission? If so, how would you recommend I go about it?
>Thank you for your patience with what I'm sure is a dumb, newbie
>question.
::-) Tommy
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Posted by Blash on July 20, 2008, 12:59 pm
Lubow wrote on 7/20/08 12:52 PM:
> When you get the certificate (should take 2-6 weeks) fill
> out an application with an online broker, sign the back of the certificate and
> mail it to the broker.
Better yet......send the certificate(UNSIGNED) and in a separate envelope
send a signed "stock Power"........
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Posted by thomasb369@yahoo.com on July 23, 2008, 11:17 am
wrote:
> Hi everybody,
>
> I bought shares of Apple stock through A.G. Edwards back before the
> days of online trading.
Thanks everybody. In order to be sure we'd have the cash in time for
closing we needed to go through the broker this time (3 day
turnaround) but it's good to know there are options for next time.
:-)
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