Who has the ownership of my shares?
Your shares and cash are held by DriveWealth LLC, a member of FINRA and SIPC.DriveWealth, LLC is a wholly owned subsidiary of DriveWealth Holdings, Inc. Custodial services are provided by DriveWealth, LLC, Citibank, N.A., RBC Clearing and Custody, and Wedbush Securities Inc.)
You can see the presence of these parties in the trade confirmations tab (the trade statement summarizes all the trades you made on the previous day and is produced the next business day) and the account statements tab. You can find your trade and account statements in the “Profile and Settings - US Stocks” tab.
Share ownership verification works slightly differently in the US than in India. Shares are held by a third-party custodian in the ‘street name’ of the broker rather than the underlying investor. This is why you do not receive direct emails from the custodian regarding your holdings. You may check the same on DriveWealth's client portal by logging in using the link given below:https://client.drivewealth.com/login
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Can we transfer shares/stocks to Vested without selling?
Yes, you can transfer shares/stocks to Vested without selling. Please check which stock transfer method is available with your broker. Here are the available methods: ACATS (Automated Customer Account Transfer Service) - Requires a Letter of ...
Will I continue to have voting rights for shares on loan?
No, voting rights are forfeited for shares on loan, but the client will retain voting rights for any shares of that security that are not on loan.
Can I transfer cash without transferring shares?
Yes. You can transfer only cash without transferring any securities, as long as your source broker supports cash transfers. This option is shown during the transfer flow.
Do I get a share certificate if I buy shares?
There is no such thing as certificates in the US. In India, when you trade you get an email from NSDL. In the US, you don't get/ask for the same thing. You may refer here for confirmation from the SEC: ...
What type of assets can I transfer?
You can transfer: US-listed stocks and ETFs US-listed RSUs (that are already vested and held in your brokerage account) Cash (USD) Unvested RSUs, or shares that are not yet available in your brokerage account, cannot be transferred.