Stocks as gifts

Discussion in 'Professional Trading' started by cashmoney69, Feb 17, 2007.

  1. If I wanted to give some stock to a family member, how would I do this?.

    Scottrade has a way of doing it, but I think it only works if both people have the same broker.

  2. cash - if you don't both use the same broker, it's a pain. To my knowledge, you would have to request either the stock cert or contact the company that the stock cert is issued by to see what they need. Each publicly traded company has a 3rd party vendor that handles their stock business - tracking, issuing certs, etc.

    When I was a broker, I would simply suggest the receiving person open an account and transfer the stock with a quick signature.
  3. How long would that process take?..could it be done electronically?

  4. Once the 2nd account is opened, it was a very quick process - most times the same day the paperwork is signed. I have no idea how ScottTrade is, so make sure to ask them first.