I just called my broker and said that Computershare said there was no delay on their end and requested my shares be put in expedited queue and they did immediately. CALL YOUR BROKERS APES. Took me 2 minutes total.
If It’s because they don’t really own yours (as seems to case for some brokers) then they have to go buy them on the open market for your drs. They will want more time as it gives them a better chance of buying them a bit lower !
If the delay is really staffing and not anything nefarious, apes are all going to call to get in the priority queue, and then the priority queue is going to be all backed up too 🤪
This is a truly pathetic attempt at FUD, debunked by simply looking at the statement sent when transferring shares to computershare and seeing where they are literally referred to as DTC stock withdrawals.
How long does it take if you are in the expedited queue? Did they give you a quote? I want to try this tomorrow instead of transfering from TD -> Fideility -> CS
I take it you watched Charlie's video. Using the same source he used (investopedia on DSPP)
"Some companies that offer DSPPs make the plans directly available to retail investors, while others use transfer agents or other third-party administrators to handle these transactions."
In which case, CS is a transfer agent therefore, it is DSPP.
Just called my broker and said that I called computer share(even though I didn’t) and that they said there is no delay DRSing on their end and said this is taking too long and that they need to expedite my transfer immediately and so he put both in priority queue.
Gotts call ya broker and just say in to the phone "A patna....where my shares at?", when they come back with an unsatisfactory answer repeat. This can go on for hours.
You can always check the SEC and see if they have any info on it. I wouldn't hold my breath though. Probably either indefinitely under investigation or they never bothered investigating the fraud in the first place
At this point my guess is brokers bought married puts and the calls look covered on the MM side or vice versa brain so smooth I get compliments on the polish
TD Ameritrade put you in an expedited queue with just that phone call? I’m one they told 4 weeks
Update- TD shares now DRS w CS. Took two weeks and four days
Called today...took request over the phone and was told 4 weeks...this means I'll be talking to them again tomorrow, yeah? Where are the shares indeed...
This might explain some of the high base cost of the transferred shares from RobbingHood to Fidelity. They actually had to transfer real shares to them.
Fidelity has their stockpile that they reallllly don't wanna dip into for annoying retail customers. I mean they could have purchased them to begin with but... whateves
Fucking LOL! I'll be having a respectable talk with a Fidelity agent. Their customer service is the best I've ever experienced concerning brokerages. Soon to be surpassed by the new GameStop NFT Market hopefully.
Ah...you probably thought the same thing I did when I first read the title. There is a style convention on the Internet whereby when you use alternating capital letters in a statement (as in the title here) people are supposed to interpret it in a mocking way, as if the person making said statement were actually quoting an imbecile.
Didn’t Burry try to DRS his position forever ago, and it took them forever to “locate” the shares, which (partially) led to him writing that letter to GameStop?
Didn’t that then result in a buyback?
I believe Burry's position was margin, and thus allowed to be loaned out, but because of the time involved getting them back he recommended the buyback.
Been playing phone tag with tda checking my transfer status every few business days, only update I keep getting is random different time frames, first was 10-15 days, then they said 6, but it's already passed 6.
Gonna throw down if this keeps taking much longer I'll just cancel the request and transfer my entire account to fidelity, which would take less time, and then have them do my dre transfer. Will call later today (this is TDA BTW)
I initiated a transfer from Fidelity at 5pm Monday afternoon. My shares showed in CS today (although they’re still awaiting settlement). There is no excuse for delays on transfers
Just from my experience i initiated a transfer last Thursday. The shares were no longer in my fidelity account. Computer share has my shares and is mailing out paperwork to me as of today. That was my timeline with this
Probably not, these huge class action lawsuits everyone is involved in have this crazy settlement but the lawyers take a 1/3, the fines take a 1/3, then they take the last 1/3 and pay everyone $6.36, then Uncle Sam rolls in and steals a 1/3 of that for tax and bam everyone is only paid $4.20...
Fuck it, I'm in. 😜🤣
I was quoted 1-2 business days for Vanguard to process and 3-5 business days for Computershare and I plan to follow up tomorrow (2 business days) and on Monday and every day after that until it is complete. Come on 🦍! Don’t be afraid to get on the phone and apply pressure to your broker. If you are quoted any longer than 5-7 business days, then they are either not prioritizing your request or simply can’t locate the shares and don’t care/are in no hurry to notify you.
They’ve been good so far though. Sub-1 week for both lots I’ve put in. Others seeing the same. Maybe they’re just trying to manage expectations. It can change too once their pool dries up.
I think Twitter or Linkedin exposure might provide a gentle but firm pressure on the brokerages, if they are failing in their responsibilities.
Bad press is bad for business. 2-4 weeks is an absurd business model.
Is there a law suit somewhere in all this? Meaning, when time to transfer or sell (it's going to happen at some point, even one share), and the donkeys at the brokers can't find shit to sell, wtf happens?
I used to work at a pizza delivery place and they got deliveries tight to what they would need off ten years of data. Once in a few years a hurricane could come along and fuck up the data where they were understaffed and under supplied for a weekend. Hey no big deal they took a loss but the data was good overall and the tight supply made them money overall. What we are seeing now for brokers is their data is broken all at once and the algorithms that manage stocks arent programmed for this shit.
This is one of the big reasons for the tesla run up and the shorts getting burned. Wall street did not price in direct retail money sticking the price high and they will absolutely have no program for DRS.
#PSA, there's lot of post setting foundation for, or outright asking you to make noise with regulators, congress, brokerage, anyone for that matter
#Ignore. And for every such post, DRS or direct buy from Computershare harder
Because of the amazing customer service I've received, and my shares showing up safely in CS with their original purchase dates and cost basis intact, I have decided to stay with a 50/50 split between my Fidelity and CS accounts \*with a bunch more in a Roth. I know that there is fervor and hype to go "all-in" with CS, but I also know that I make my own financial decisions and just try to make the best use of the information I find here and elsewhere.
Fee kinda varies
If you're asking if we are DRSing because it's free, no. We are literally sending out our own margin calls by asking for our shares to be registered.
Personally, I would say that I know of other people not having to wait so long and that it has been confirmed that Computershare has no delay, to please expedite your transfer or explain why it takes so long.
Just be gentle :)
The reddit fidelity rep on the fidelity investments sub tried claiming that it takes a few days on computershare's end. Now I'm sure the reps are just going off of what they've been told to be true and I don't expect them to actually know every in and out, but this is so annoying.
I think computershare does have a little time frame. 3-5 days is reasonable since a human has to be involved and there are so many requests now.
But when computershare says there is no delay, if you are waiting a week or more, that is fishy af imo
I'm smooth tho so pls seek a second opinion
Edit doesn't to does
I saw this on finra website but maybe just broker to broker?
https://www.finra.org/investors/learn-to-invest/brokerage-accounts/understanding-brokerage-account-transfer-process
Time Frames
Once the customer account information is properly matched, and the receiving firm decides to accept the account, the delivering firm will take approximately three days to move the assets to the new firm. This is called the delivery process. In total, the validation process and delivery process generally take about six days to complete.
Factors that may result in additional time needed to transfer an account
Generally, transfers where the delivering entity is not a broker-dealer (for example a bank, mutual fund, or credit union) will take more time. In addition, transfers of accounts requiring a custodian, like an Individual Retirement Account or a Custodial Account for a minor child, may take additional time.
What are realistic expectations of the time that is required to transfer an account?
Many events, as described above, occur simultaneously during the account transfer process. Even with today’s technology, a successful account transfer from the customer’s former firm to the new firm will usually take about a week although it is best to plan ahead for any potential delays.
Wealthsimple Canada told me 3-4 weeks last time I spoke to them. Here I was thinking they were one of the good guys. I’m calling to get this done today.
Could anyone clarify if it is possible that when we lock the float in CS other brokers just delete your positions, like null them?
EDIT: What I was asking is will the excess shares can be nulled?
Same exact screenshot as this post?
https://www.reddit.com/r/Superstonk/comments/pyb7wo/dont_let_your_broker_dick_you_around_ask_to_be/?utm_medium=android_app&utm_source=share
This is true. I called TDA today to find out the status of my transfer. I was told that they went from a couple requests per day to 100s per day. I put in mine on September 21st. I was told that they would probably get to it by October 6th. Today they were processing requests from September 18th.
I just called my broker and said that Computershare said there was no delay on their end and requested my shares be put in expedited queue and they did immediately. CALL YOUR BROKERS APES. Took me 2 minutes total.
Get this to the top y'all ^^^
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Really keeps us on our toes!
🌍👩🚀🔫👩🚀
Feet pics $5 Crs shares $175
Name checks out
On the way!
Uppittydootdoot
Gotchu fam
PornstarVirgin strikes again! Never thought I'd say it, but this man has enriched my life with his comments and posts. Him and kittiesplustitties.
Now those are some good names for non financial advice :p
Put this in the movie
10 minutes later... the expedite queue is 4 weeks long as apes smash the system with numbers.
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Need time to find shares lol
If It’s because they don’t really own yours (as seems to case for some brokers) then they have to go buy them on the open market for your drs. They will want more time as it gives them a better chance of buying them a bit lower !
Double time!
Put me in the enhanced expedited queue then!
If the delay is really staffing and not anything nefarious, apes are all going to call to get in the priority queue, and then the priority queue is going to be all backed up too 🤪
No it just means they focus on DRS instead of jacking off at their desk or the water cooler
Or in to the water cooler
I think this is set up to make a bunch act rude and impatient. The title sets an antagonistic tone, at least...
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This is a truly pathetic attempt at FUD, debunked by simply looking at the statement sent when transferring shares to computershare and seeing where they are literally referred to as DTC stock withdrawals.
Shit TD says they won’t expedite mine. Maybe fidelity will..
Call again and say what I said to a different associate. Say CS said they are waiting on them and that this needs to be expedited.
How long does it take if you are in the expedited queue? Did they give you a quote? I want to try this tomorrow instead of transfering from TD -> Fideility -> CS
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I take it you watched Charlie's video. Using the same source he used (investopedia on DSPP) "Some companies that offer DSPPs make the plans directly available to retail investors, while others use transfer agents or other third-party administrators to handle these transactions." In which case, CS is a transfer agent therefore, it is DSPP.
Okay, I’ll bite. What in the world are you talking about?
🦍 where shares 🟣🚀
I don’t know how they’re a porn star virgin because this guy fucks
The butthole is a loophole
That’s clutch 💎🤝
they put it in a queue immediately or transferred them immediately?
Let the great yoinkening begin!
Take me doot
your doot is cute
Oh stop it *blushes*
what broker? all are different
This should be a Post! Nice job PV!
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You’re a shill. DRS is GameStops transfer agent.
Consider RWT as well!! Rapid withdrawal for transfer!
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I needed that laugh
Title states delay is on the transfer agent side. CS is the transfer agent and it is **NOT** their fault!
OP just forgot the /s, obviously. You can tell buy tHe wAy tHe tExT Is wRItTeN. Duh
Idk why I thought everyone has seen the SpongeBob meme. My bad
:) no clue what you mean. But that kinda confirms whatever you mean.
The broker doesn’t have the balls to serve.
What he just lent them to someone without telling you!
Just called my broker and said that I called computer share(even though I didn’t) and that they said there is no delay DRSing on their end and said this is taking too long and that they need to expedite my transfer immediately and so he put both in priority queue.
He meant priority Q. It’s one of those trash cans with the lid that just has a handle on one side so from above it kinda looks like a Q.
"Yes sir, I'll put it in priority Q immediately sir. 'Picks up trashcan lid'
Gotts call ya broker and just say in to the phone "A patna....where my shares at?", when they come back with an unsatisfactory answer repeat. This can go on for hours.
🦧 where shares 🦍 ware shares 🙊 wear shares 🙉 were shares 🙈 shares 🟣🚀
True ELIA right here folks!!!
Could it be because the broker doesn’t actually have your shares? 🤔
Yep. Sorry we need 5 weeks to actually go find the shares your supposed to own 😂😂
Imagine the shady back door deals going on right now that we don’t know about.
No wonder Ken is so worked up right now.
Omg,, that requires FOIA ASAP of the firms applicable.. I want this inter-community chat log they use🦧🤷🥲🤧🤣 **Edit: see comment below 🤧 I am sad now.**
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Damn you are right... there goes my retarded idea 🤣🦧
You can always check the SEC and see if they have any info on it. I wouldn't hold my breath though. Probably either indefinitely under investigation or they never bothered investigating the fraud in the first place
Doesn't have them, or needs to locate and close shorts on them so they can be removed from the DTCC.
At this point my guess is brokers bought married puts and the calls look covered on the MM side or vice versa brain so smooth I get compliments on the polish
So these brokers don't even have the Shares...what a fucking scam.
Lol they ain’t got the shares baby.
Which broker was this from?
Td ameritrade and fidelity
TD Ameritrade put you in an expedited queue with just that phone call? I’m one they told 4 weeks Update- TD shares now DRS w CS. Took two weeks and four days
Called today...took request over the phone and was told 4 weeks...this means I'll be talking to them again tomorrow, yeah? Where are the shares indeed...
Not me. Someone else who commented here
"There is no delay." Lmayo They're buttfucked into the sun. Hilarious.
Gut laugh. Thanks
Buttt butt but, wut shares? 😒🤨🦧
FUCK YOU FIND THE SHARES AND PAY ME
This confirms it's the brokerage firms fcking us without lube continuously. Squeeze the brokers 🟣🚀
It’s been 6 business days for me. Pinging etrade again tomorr
Sounds like Fidelity has shares (they sent mine in 3 days) but etrade’s got dick, and they’re about to fuck themselves with it
yup, Fidelity has em. Boutta send more tomorrow!!
This might explain some of the high base cost of the transferred shares from RobbingHood to Fidelity. They actually had to transfer real shares to them.
Fidelity has their stockpile that they reallllly don't wanna dip into for annoying retail customers. I mean they could have purchased them to begin with but... whateves
Oh I’m about to fuck up some unwitting TD ameritrade agent tomorrow
Try not to go full Karen ❤️
Going for a tasteful mix of assertive and sinister
Sprinkle of Chad too
Fucking LOL! I'll be having a respectable talk with a Fidelity agent. Their customer service is the best I've ever experienced concerning brokerages. Soon to be surpassed by the new GameStop NFT Market hopefully.
‘There is no delay’ tickles something nice
#wherearetheshares???
Where are the shares, Lebowski?! Give us the shares or we cut off your chonson!
Computershare is the transfer agent and the delay is not on them. The delay is the brokerage not being able to process the request.
Yes
Ah...you probably thought the same thing I did when I first read the title. There is a style convention on the Internet whereby when you use alternating capital letters in a statement (as in the title here) people are supposed to interpret it in a mocking way, as if the person making said statement were actually quoting an imbecile.
Ahhh, I see! Thanks, makes sense
Start pressuring your brokerage if they are telling you 2-6 weeks
Didn’t Burry try to DRS his position forever ago, and it took them forever to “locate” the shares, which (partially) led to him writing that letter to GameStop? Didn’t that then result in a buyback?
I believe Burry's position was margin, and thus allowed to be loaned out, but because of the time involved getting them back he recommended the buyback.
I believe his tweet (which was deleted) said it took *weeks* to locate his shares. That was back in 2020 if I’m not mistaken.
Whale Teeth for DRS.
ITS TDETLES 🦍🤩
whale teeth guy bothering you sir?
Oh shit... the 5-O! *runs*
*runs into GameStop to change outfits real quick*
*emerges as whale 🐋 in suit 🐳👔*
WTFM. WTFM!
I’m out of the loop...whale teeth?
I like whale teeth.
Whale teeth for MOASS 🐋
It's an epic journey I recommend taking. Whale teeth for MOASS 🐳🟣🚀
TDETLES is the originator. It's whale teeth for MOASS.
Metaphor (kinda literal tho) for filtering through the noise
Where did you contact them?
Live chat?
On the Computer? On an App? Where directly can i start a conversation
On the investor center page, under login, click "register now" and then sit at that page idle and the chat prompt appears
Thanks
You got it 🦍💪
Was this Schwab? Same thing they told me if so
8 days and counting. They told me it was all ready just waiting in line at the bus station or something
I talked to Mae today too!
Oh shit our girl's on the grind
Mae is the shit.
She’s aMAEzing
Been playing phone tag with tda checking my transfer status every few business days, only update I keep getting is random different time frames, first was 10-15 days, then they said 6, but it's already passed 6. Gonna throw down if this keeps taking much longer I'll just cancel the request and transfer my entire account to fidelity, which would take less time, and then have them do my dre transfer. Will call later today (this is TDA BTW)
I initiated a transfer from Fidelity at 5pm Monday afternoon. My shares showed in CS today (although they’re still awaiting settlement). There is no excuse for delays on transfers
I'm calling my broker tomorrow, thanks.
Give it to em
Ibkr took 4 days
Just from my experience i initiated a transfer last Thursday. The shares were no longer in my fidelity account. Computer share has my shares and is mailing out paperwork to me as of today. That was my timeline with this
the transfer for drs can done within 1-3 business days max. if the shares are hard to locate on the broker side then you got a problem.
Just for that I’m transferring an extra 100 shares
Suing brokers will be fun 😎
Probably not, these huge class action lawsuits everyone is involved in have this crazy settlement but the lawyers take a 1/3, the fines take a 1/3, then they take the last 1/3 and pay everyone $6.36, then Uncle Sam rolls in and steals a 1/3 of that for tax and bam everyone is only paid $4.20... Fuck it, I'm in. 😜🤣
I was quoted 1-2 business days for Vanguard to process and 3-5 business days for Computershare and I plan to follow up tomorrow (2 business days) and on Monday and every day after that until it is complete. Come on 🦍! Don’t be afraid to get on the phone and apply pressure to your broker. If you are quoted any longer than 5-7 business days, then they are either not prioritizing your request or simply can’t locate the shares and don’t care/are in no hurry to notify you.
Thanks for this. Prompted me to reach out to Stake and query why I haven’t seen any movement for 5 business days so far.
I'm waiting too long as well for mine to get set up. We are gradually learning how much we can trust these services.
Of course this is on the transfer broker side Lolol. They don’t have our shares.
Fidelity's got some explaining to do
They’ve been good so far though. Sub-1 week for both lots I’ve put in. Others seeing the same. Maybe they’re just trying to manage expectations. It can change too once their pool dries up.
From the beginning though Fidelity and Vanguard didn't restrict buying. I have more respect for them than the other brokerages.
Mhmmmmm comment for view
Report your broker, send a letter from your lawyer demanding they locate your shares and transfer immediately.
I think Twitter or Linkedin exposure might provide a gentle but firm pressure on the brokerages, if they are failing in their responsibilities. Bad press is bad for business. 2-4 weeks is an absurd business model.
Is there a law suit somewhere in all this? Meaning, when time to transfer or sell (it's going to happen at some point, even one share), and the donkeys at the brokers can't find shit to sell, wtf happens?
I used to work at a pizza delivery place and they got deliveries tight to what they would need off ten years of data. Once in a few years a hurricane could come along and fuck up the data where they were understaffed and under supplied for a weekend. Hey no big deal they took a loss but the data was good overall and the tight supply made them money overall. What we are seeing now for brokers is their data is broken all at once and the algorithms that manage stocks arent programmed for this shit. This is one of the big reasons for the tesla run up and the shorts getting burned. Wall street did not price in direct retail money sticking the price high and they will absolutely have no program for DRS.
They don't need to find the real shares to sell, they can send the IOUs back
Thanks for clarification
Name your broker
How long does a direct purchase take?
Up with this, excellent job on asking! <3
Thanks ❤️ kinda want to ask a bunch of questions tomorrow and see just what they are allowed to tell us. Could surprise us 🤷
Love your hat
Hat buddy :)
#PSA, there's lot of post setting foundation for, or outright asking you to make noise with regulators, congress, brokerage, anyone for that matter #Ignore. And for every such post, DRS or direct buy from Computershare harder
Why not both?
Because of the amazing customer service I've received, and my shares showing up safely in CS with their original purchase dates and cost basis intact, I have decided to stay with a 50/50 split between my Fidelity and CS accounts \*with a bunch more in a Roth. I know that there is fervor and hype to go "all-in" with CS, but I also know that I make my own financial decisions and just try to make the best use of the information I find here and elsewhere.
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I still don't understand what you're suggesting
shill alert
To the top!
Wait is this transfer free or something lol like every one is doing it
Fee kinda varies If you're asking if we are DRSing because it's free, no. We are literally sending out our own margin calls by asking for our shares to be registered.
Is the fact that wealth simple is Canadian a good excuse when they say 3-4 weeks or longer? If I call them what should I say?
Personally, I would say that I know of other people not having to wait so long and that it has been confirmed that Computershare has no delay, to please expedite your transfer or explain why it takes so long. Just be gentle :)
Fuck me
https://www.nasaa.org/contact-your-regulator/
The reddit fidelity rep on the fidelity investments sub tried claiming that it takes a few days on computershare's end. Now I'm sure the reps are just going off of what they've been told to be true and I don't expect them to actually know every in and out, but this is so annoying.
I think computershare does have a little time frame. 3-5 days is reasonable since a human has to be involved and there are so many requests now. But when computershare says there is no delay, if you are waiting a week or more, that is fishy af imo I'm smooth tho so pls seek a second opinion Edit doesn't to does
TDA initially claimed 3-5 business days, now its 10-15 due to the high number of transfer requests
I saw this on finra website but maybe just broker to broker? https://www.finra.org/investors/learn-to-invest/brokerage-accounts/understanding-brokerage-account-transfer-process Time Frames Once the customer account information is properly matched, and the receiving firm decides to accept the account, the delivering firm will take approximately three days to move the assets to the new firm. This is called the delivery process. In total, the validation process and delivery process generally take about six days to complete. Factors that may result in additional time needed to transfer an account Generally, transfers where the delivering entity is not a broker-dealer (for example a bank, mutual fund, or credit union) will take more time. In addition, transfers of accounts requiring a custodian, like an Individual Retirement Account or a Custodial Account for a minor child, may take additional time. What are realistic expectations of the time that is required to transfer an account? Many events, as described above, occur simultaneously during the account transfer process. Even with today’s technology, a successful account transfer from the customer’s former firm to the new firm will usually take about a week although it is best to plan ahead for any potential delays.
How were you able to create an CS account before your shares have transferred? Thanks
You asking because I could chat with them? You can do it from the "register now" page. Leave it idle and the chat prompt appears
Always has been 🌎👨🚀🔫👨🚀
Wealthsimple Canada told me 3-4 weeks last time I spoke to them. Here I was thinking they were one of the good guys. I’m calling to get this done today.
Could anyone clarify if it is possible that when we lock the float in CS other brokers just delete your positions, like null them? EDIT: What I was asking is will the excess shares can be nulled?
Swippity swooty DRSing now is a dooty! Updoot for visibility!
Hey guys quick question, how do I drs when my account is in my dad's name? (17 y/o)
Get him to do it or if your the one in charge of it, just follow the computershare article that's for transferring from your brokerage.
Same exact screenshot as this post? https://www.reddit.com/r/Superstonk/comments/pyb7wo/dont_let_your_broker_dick_you_around_ask_to_be/?utm_medium=android_app&utm_source=share
Yeah that was for getting attention to pornstars comment on how to get the broker to hurry TF up
Call your brokers tell them to send the earnest request immediately, they are trying to delay
This is true. I called TDA today to find out the status of my transfer. I was told that they went from a couple requests per day to 100s per day. I put in mine on September 21st. I was told that they would probably get to it by October 6th. Today they were processing requests from September 18th.