transfering stock - where and how do I do this?

K

Kris

Okay, I contacted my brokerage firm because I wanted to purchase stock as a gift for a friend. I was abruptly told that purchasing stock for a third party is impossible. I called bull because I've heard of people doing this. Anyway, it appears my brokerage firm is not able to do it, but they said I should be able to have it done through a transfer agent... Now I'm in Canada and have never dealt with a transfer agent... what is the best way to do this and who should I go through? It's a gift for a friend's wedding.
 
I'm already a dork so that won't change much

:D

I contacted another broker that I used to have an account with and they can do this no problem...

gotta give a big thumbs down to Questrade, where my current account is at.
 
Correction - it appears it cannot be done.

They are prepared to do it if I put the shares into a relative's name, but it appears it is impossible to buy shares for someone who is not related to you...

...does anyone have more experience with this?
 
Quote from Kris:

Okay, I contacted my brokerage firm because I wanted to purchase stock as a gift for a friend. I was abruptly told that purchasing stock for a third party is impossible. I called bull because I've heard of people doing this. Anyway, it appears my brokerage firm is not able to do it, but they said I should be able to have it done through a transfer agent... Now I'm in Canada and have never dealt with a transfer agent... what is the best way to do this and who should I go through? It's a gift for a friend's wedding.
More...

google Stock Certificate Transfer

And change brokers.
 
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