Tranfer of Rivian shares from Morgan Stanley to another brokerage firm

Scoiatael

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Tried to get this going for my ETrade account and can't get it to recognize the MS account number.
Same here with Fidelity. They said it was an invalid account number. I'm just going to wait a month for the first statement then try again.
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ajdelange

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Tried to get this going for my ETrade account and can't get it to recognize the MS account number.
That's because what's on the web site isn't your account number. Try 405 for the first 3 digits.

eTrade will come back and ask for a statement from MS. I guess untill we get one of those the shares stay with MS.
 

GrokTime

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That's because what's on the web site isn't your account number. Try 405 for the first 3 digits.

eTrade will come back and ask for a statement from MS. I guess untill we get one of those the shares stay with MS.
Don't forget that Morgan Stanley owns E*Trade! 😂
 
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IThinkFreely

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Don't forget that Morgan Stanley Owner E*Trade! 😂
I had no idea to be honest and then coincidentally I saw an email from them on their upcoming banking changes. MS and Etrade will al be one soon I guess.
 

GrokTime

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I had no idea to be honest and then coincidentally I saw an email from them on their upcoming banking changes. MS and Etrade will al be one soon I guess.
I think the current E*Trade platform will be around for the indefinite future, but they are consolidating the underlying banking structures.
 

stynes

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That's because what's on the web site isn't your account number. Try 405 for the first 3 digits.

eTrade will come back and ask for a statement from MS. I guess untill we get one of those the shares stay with MS.
It shows a truncated account number. Go into settings and select show full account number.
 

stynes

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Don't forget that Morgan Stanley owns E*Trade! 😂
Owns or not, the start of integration isn't until next year. I want the funds in my etrade account with everything else. I initiated the transfer from etrade but it failed. Etrade said I have to initiate on the Morgan Stanley side. I'll have to call and try that tomorrow.
 

NashvilleR1S

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It's really annoying. I'm with Commonwealth, and they need a "Letter of Authorization for Stock Transfer form" from Morgan Stanley. Spoke with people at MS and they acted like theyd never heard of someone moving shares to another brokerage before. They had to "escalate my case" to someone else who would get back to me about the form...
 

SwaziCAR

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It's really annoying. I'm with Commonwealth, and they need a "Letter of Authorization for Stock Transfer form" from Morgan Stanley. Spoke with people at MS and they acted like theyd never heard of someone moving shares to another brokerage before. They had to "escalate my case" to someone else who would get back to me about the form...
I called MS last week and they sent me the form (called "Letter of Authorization To Deliver via DTC"); I sent it back to them this week. When you return it, you need to include a scanned copy of a signed driver license or passport. Then, I received an e-mail message from the DSP department to call them in order to confirm my identity; that happened yesterday for me. In theory, all of that is done, but they said it would take 10-14 days to make the transfer.

This is speculation on my part, but I think the extra red tape is because the shares are associated with DSP, so there's an extra layer of verification that's needed. Or something.
 

ajdelange

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It shows a truncated account number. Go into settings and select show full account number.
My account shows REG - xxx -xxxxxx. REG is not a legit account number. I didn't find out my account number until I got the notification of the share purchase in the mail.
 

buddha2lotus

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My account shows REG - xxx -xxxxxx. REG is not a legit account number. I didn't find out my account number until I got the notification of the share purchase in the mail.
So I had trouble with my transfer (kept getting "there's a restriction on your M.S. account" message from Schwab) because I got the wrong number for my account, ended up calling M.S. and they gave me the actual account number and hopefully this will do it for my transfer. For Schwab, I didn't have to provide any documents at all after I got the correct account number.
 

SwaziCAR

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I called MS last week and they sent me the form (called "Letter of Authorization To Deliver via DTC"); I sent it back to them this week. When you return it, you need to include a scanned copy of a signed driver license or passport. Then, I received an e-mail message from the DSP department to call them in order to confirm my identity; that happened yesterday for me. In theory, all of that is done, but they said it would take 10-14 days to make the transfer.
FWIW, form submitted to MS Tuesday, follow-up identity call Wednesday, shares confirmed in receiving account Friday.
 

stynes

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FWIW, form submitted to MS Tuesday, follow-up identity call Wednesday, shares confirmed in receiving account Friday.
Appreciate the update as I'm looking to do the same. Thanks!
 

Rjalbright3

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I initiated a transfer from MS to TD, and am awaiting the results as well. I noticed the share purchase confirmation that was mailed showed a different account number then that of the web interface so I called TD to make the change. ( I requested the transfer with the wrong number initially)

TD Customer service was very helpful in making the change to the transfer request. We shall see how long this transfer actually takes, but the person I dealt with said it's typically about 3 business days.
 

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Regardless of your take on the whole Gamestop thing, just going to point out here that in January when things were exploding, only two brokers in the US weren't forced to block buys on their apps that I'm aware of. Vanguard and Fidelity. Of the rest, I think only Robinhood was happy to do so and continued to do so when it became clear they didn't need to anymore. Their profit model is almost entirely dependent on an MM/HF/too-many-other-things conglomerate that was/(still is, IMO) hugely short on GME.

I would personally not hold shares through a brokerage owned by a major bank right now. It appears nobody learned anything from 2008 and we are most definitely not isolated from what's happening in China.

And if you've got a lot riding on margin, be very careful about that in the coming months.
 
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