"Robert M. Gary" wrote in message
om...
Kyler Laird wrote in message
...

Of course I saw this when I was checking on some money that I
had *electronically* tranferred to my brokerage account. It
takes a *week* to do that! (OTOH, my credit union does not
issue any holds for checks deposited into my account.)
=
My broker is the same way. Transfers take forever and getting a check
from a stock sale takes weeks. I'm sure they are just making money on
the float. What in the world would they be waiting for after selling
stocks that they hold the certs for?
-Robert

Brokers do not issue stock certificates, or guarantee socks, or pay out from
stock sales. (as I understand it) That is all done under contract by a
couple large firms that do nothing but that. The holdup probably lies with
them.

I found this all out from my daughter's boyfriend, who works for one such
firm.
--
Jim in NC


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