Re: Moving Shares to Another Brokerage Account

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In Reply to: Re: Moving Shares to Another Brokerage Account posted by Gerald Fry on December 29, 2003 at 18:39:54:

: : : : : : Mark --
: : : : : : I want to move some shares of a company from one broderage account to another (transfer at no cost), but keep the same history since they were all purchased on the same day at the same price. How do I do this? I already have portfolios established for both brokerages with other accounts in them.

: : : : : Hi Gerald,

: : : : : It sounds like you just want to move your investment files from one
: : : : : portfolio to the other. You can make copies of the investment files first
: : : : : if you want, and then just add these investment files to your new
: : : : : brokerage's portfolio.

: : : : : Thanks,
: : : : : Mark
: : : : : --
: : : : : Mark Beiley
: : : : :
: : : : : Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP

: : : : Sorry, Mark -- I didn't make myself clear in the first post. Actually, I want to leave one-half of the company's shares in the original brokerage account, but move the other half to the new brokerage account. It was a straight transfer, no sale or commission involved. I just want to be sure the record for all the shares reflect the same purchase date and price history. I don't find a way for doing this in Fund Manager.
: : : : :

: : : Hi Gerald,

: : : I see... It depends how you want to keep track of your basis. Do you know
: : : which shares you transferred? If you transferred specific shares, you may
: : : want to copy the investment file, and delete the buy/sell transactions
: : : that aren't associated with the new investment. For the original investment
: : : you would delete the buy transactions for the transferred shares.

: : : Thanks,
: : : Mark
: : : --
: : : Mark Beiley
: : :
: : : Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP
: : :

: : I'm still confused, Mark. There is no new investment. I have 1000 shares purchased at various times over a number of years in an account at one brokerage firm, and I transferred 500 of those shares to another account at a different brokerage firm. I don't want my Fund Manager portfolio for the initial firm to show 1000 shares, but the only way I can find in Fund Manager to reduce the number to 500 in that portfolio is to show that I sold 500 shares; there is no provision that I know of to show a transfer without any other monetary action. I don't know which shares were transferred, only that 500 of the 1000 were. The cost basis remains the same since all the shares were purchased on the same date, but have multiplied through stock splits over the years. This may be something that future upgrades to Fund Manager could include: an easy way to show transfers of fund shares or stock shares from one account to another.

: Oops -- in re-reading my reply I see I wrote "purchased at various times over a number of years". I should have written "purchased on the same date, but split at various times over a number of years." Sorry for the goof.

Hi Gerald,

This seems like a pretty easy case, since you only had one purchase for
all the shares. Here's what you can do:

1) Make a copy of the investment file (*.dat). This will be used to
track your new holding of the investment.

2) Include this copied investment file in your new portfolio, and leave
the old investment in the original portfolio.

3) Modify the transaction in both of the investment files where you purchased
the 1000 shares. Modify it so that you only purchase 500, at half the cost
basis. So, for example, if you bought 1000 shares at $10/share, change
it to 500 shares at $10/share. You are essentially splitting this transaction
between the 2 investment files.

Thanks,
Mark
--
Mark Beiley

Fund Manager, portfolio management software for Windows 95/98/ME/NT/00/XP

Replies:

• Re: Moving Shares to Another Brokerage Account Gerald Fry 20:59:22 12/30/03 (0)