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>> Junk letters on odd lots from companys wanting to buy your shares. Example I receive 4 times a letter from Fidelty about Regions Financial wanting me to sell my shares or bring it up to 100 shares. I do not receive this garbage from Schwab.

> I once received a letter like this for shares I held in an account at Vanguard. (Can't remember what security it was regarding.) Anyway, those aren't originated by the broker, they come from the issue itself. I presume you'd still receive a request to buy your odd lot from Regions Financial whether you held the shares in Fidelity or Schawb or TDA.

With Fidelity, you hold the shares. As in Fidelity buys the shares on your behalf, and then puts them in your name.
With Schwab, Schwab holds the shares, and tells you 'these shares over here are yours'. As in they buy the shares, and then they make an accounting note that those shares are yours. The company issuing the shares sees Schwab as the owner.

That is why no one is bugging you about odd lots. They see Schwab as the owner.

Most large and discount brokers do this. Unless you own lots of shares, or pay extra to have the shares put in your name. Some brokers allow this, others dont even have it as an option.
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