So I moved my stocks from RH to Fidelity.
My non partial shares got transferred to Fidelity in like ten days.
My partial shares got sold like last week.
I’m spitting mad right now because:
1) When I try to withdraw the money generated after the partial shares were sold, the app doesn’t let me by saying the account is deactivated.
2) Fidelity doesn’t have the cost basis for my RH stocks.
2 I can deal with but wtf is 1 about?
What do I do? It’s a big amount and I need that money!
#personalfinance #investments
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comments
#1 will also happen automatically after full settlement in a week or two
Chill the duck out bruh
I want to withdraw the money that is generated after the fractional shares are sold but RH said that i can’t withdraw the money coz account is deactivated.
It’s not the selling of the fractional shares I care about.
Since the cost basis for these is harder to obtain, in addition to partial shares not being fully adopted yet in the brokerage space, it’s easier for accounting purposes for your brokerage to just exercise the position and give you cash.
Downside to this is that now it’s also a taxable event—albeit small.
I want to withdraw the money that is generated after true fractional shares are sold but RH said that i can’t withdraw the money coz account is deactivated.
It’s not the selling of the fractional shares I care about.