Transferring Shares from a US Holding Account

Lleft-handed righty on 09/03/2018 - 12:14

Hi all,

Just wanted to ask what is the best option for my situation:

I have shares in the US given by my former US based company held in a company sponsored account. I no longer work for this company and will need to open a personal brokerage account to transfer the shares into. I spoke to representatives at various brokerage firms in the US to open a personal brokerage account in the US and the outcome is not favourable ie: does not provide service to international clients or minimum asset value required is too high (eg: $1.5m in personal assets and $500k in shares and must be certified by an accountant). Can anyone here suggest if there's anything in the US to handle international clients without the high restrictions? Alternatively, which is more the likely outcome, can anyone suggest/recommend an Australian brokerage firm that I can transfer the shares into without them charging like a wounded bull?

Thanks in advance!

Financial Brokerage Shares (financial) Transfer US Account

Comments

  • JCrown9 on 09/03/2018 - 12:46

    Try Schwab.

    I used to have optionsXpress Aus/US account and Schwab took them over. THey have an australian office. I only have small holding in their, so they should be fine for what your looking to do.

  • redfox1200 on 09/03/2018 - 12:48

    not australian, but i would recommend interactive brokers

  • Seraphin7 on 09/03/2018 - 13:10

    Speak to some local brokers. It's been a while since I've looked at it, but I know ComSec (just as one example) certainly used to advertise the ability trade US shares with them directly some time ago. See if they still have this service.

    • cloudy on 09/03/2018 - 16:11

      ComSec and some local brokers probably can offer this service, but it’ll be expensive for what they are doing.

      I agree with the 1sr poster, optionsXpress is also a broker I have used in the past when options trading, and are were us based that offered local broking as well. They would probably most cost effective.

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