No. of Recommendations: 0

Could i use one enrollment fee (in for example) and put several names on shares of the same stock? ie: 10 shares Coke, one name per share???

Someone out there correct me if I'm wrong, but it's my understanding that in order to enroll 10 different people in a Drip with the same stock (say 10 shares of KO), this will require 10 enrollment fees (one per person). I don't think youc can pay one fee to enroll all 10 people.

With one name on the stock (several shares) can I transfer (and how?) one or more shares to another person?

Exactly, it would be more cost effective to enroll one person (yourself?) with 10 shares thus incurring one enrollment fee. Then when you have the shares in your name, transfer the other 9 shares to the other nine people and enroll them in the Drips yourself. I haven't actually done a stock transfer yet, but I think it just involves filling out the information on the back of the certificate and mailing it to the transfer agent/bank that handles the stock (again, someone correct me if I'm wrong). The benefit is that you save about $135-$180 dollars in enrollment fees, the drawback is that it takes longer to do this and if you were planning on putting the stock under the tree for Christmas, it may be too late.

In late October I received a confirmation of my order to buy 1 share each of INTC and KO through Temper of the Times (via Moneypaper) with my Revocable Living Trust as the owner. (I placed the order around October 15th). The confirmation stated the order was processed on October 25 and the stock was to be purchased on November 1st. I haven't heard anything since then and do not know if the stock was purchased or if I'm enrolled yet. Hopefully I'll know by Christmas. Once I know I'm enrolled, I hope to purchase some shares and then transfer them to my kids(3) to get them enrolled in the Drip so they can learn to invest. Hopefully in time for their Birthdays next year.

Good Luck in your endeavor!

Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.