transfering stock - where and how do I do this?

Okay, I contacted my brokerage firm because I wanted to purchase stock as a gift for a friend. I was abruptly told that purchasing stock for a third party is impossible. I called bull because I've heard of people doing this. Anyway, it appears my brokerage firm is not able to do it, but they said I should be able to have it done through a transfer agent... Now I'm in Canada and have never dealt with a transfer agent... what is the best way to do this and who should I go through? It's a gift for a friend's wedding.

 

You would think that my brokerage firm would work with a transfer agent for cases like this...

 

Give cash instead. Otherwise, you'll be known as the dork who gave depreciating stock.

 

I'm already a dork so that won't change much



I contacted another broker that I used to have an account with and they can do this no problem...

gotta give a big thumbs down to Questrade, where my current account is at.

 

Correction - it appears it cannot be done.

They are prepared to do it if I put the shares into a relative's name, but it appears it is impossible to buy shares for someone who is not related to you...

...does anyone have more experience with this?

 

google Stock Certificate Transfer

And change brokers.