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Question on stocks

Discussion in 'Uncategorized Threads' started by Jerbear, Nov 25, 2008.

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  1. Jerbear

    Jerbear TS Member

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    This is rally a question on my stock broker company. What would happen if E-Trade goes belly up? I hold stocks trough them. I am not sure what I would need to do, if the broker goes under and the stocks I hold are still in good shape.

    Thanks for your help.... Jerbear
     
  2. V10

    V10 Well-Known Member

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    Mojave Desert
    See link above.
     
  3. jm1079

    jm1079 Well-Known Member

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    If the stocks are paid for, you can ask them to send you the stock certificates. JM
     
  4. Gold Medal

    Gold Medal Member

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    I don`t know about the other companies but Scottrade charges a fee for sending your certificates to you. You can get them for a fee.

    You might want to check with your brokerage firm if they charge for this service.
     
  5. hmb

    hmb Well-Known Member

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    You don't need the stock certificates. You can have the electronic entry form of ownership. The important thing is to have ownership of the shares in your name with the company you purchased stock in.

    Right now the shares are in E-Trades name and they use them to borrow money. HMB
     
  6. Jerbear

    Jerbear TS Member

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    Thanks gang, I knew I could count on you to help me out.


    Jerbear
     
  7. WNCRob

    WNCRob Member

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    I don't think all the advice in this thread is accurate. My understanding is that all stocks which are fully paid for, i.e. are not being purchased on margin, are not subject to the brokerage firm's creditors claims...and SIPC covers the investor for any lost stocks in a bankruptcy proceeding. But if you have any concern, ask the company to clarify and get it in writing...don't rely on uninformed, albeit well-intentioned, non-professionals advice...or, better yet, move the account to another firm...but do your homework and don't trade one firm's set of problems for another firm's problems.

    WNCRob
     
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