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I have transferred assets partially between brokers and each time at least one asset was declared as "non-transferrable." I did some research but still inconclusively. Why are some assets non-transferrable? Is that because the receiving broker cannot have the custody of the assets, or are there other reasons? A Fidelity advisor told me because the other broker cannot or is unwilling to release them. I don't believe this is the case based on my inconclusive research.

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traderranger said:   I have transferred assets partially between brokers and each time at least one asset was declared as "non-transferrable." I did some research but still inconclusively. Why are some assets non-transferrable? Is that because the receiving broker cannot have the custody of the assets, or are there other reasons? A Fidelity advisor told me because the other broker cannot or is unwilling to release them. I don't believe this is the case based on my inconclusive research.
  It's true some things are nontransferrable (usually with exceptions death, divorce, etc), but in my experience the vast majority of the time a broker-to-broker transfer fails is because the receiving broker doesn't want to accept the assets.  Perhaps they don't like something that still clears with paper certificates instead of electrically via DTC, perhaps it's some OTC position where the compliance people on the receiving end are afraid of some sort of fraud and don't want to accept it (even if they would let you buy the same thing as a new position), etc.  I should mention Fidelity is not so hot on this front and if you hold the sort of positions they don't want to take, you may also find they won't let you buy those kinds of positions either.  Another broker might be a better choice.

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I bought 10 bonds (10K shares) with CUSIP 626207YS7 at ETrade  in my IRA account some years ago. I recently transferred this to TD Ameritrade successfully. But when I tried to transfer it back to ETrade  some months later it failed and was declared as Restricted Security Non-transferable. It is now stuck at TD Ameritrade. PS: I do partial transfer of assets routinely.

626207YS7:
(MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA PLANT VOGTLE UNITS 3&4 PROJECT P BONDS TAXABLE SERIES 2010A (ISSUER SUBSIDY - BUILD AMERICA BONDS) MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA PLANT VOGTLE UNITS 3&4 PROJECT P BONDS TAXABLE SERIES 2010A (ISSU (GA))

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Some people are born into families with very short-lived genetics.  Everyone in the famile tree dies young.

Some people are born into families with long-lived genes.  The tradition is everyone lives to see late 90's barring an accident which makes them die young.

Some races live longer.  Some die younger.

So, retirement payments mandated by law taken from every paycheck, which are not allowed to be saved and lifetime earned assets transfered to surviving loved ones, are highly unethical theft more brutal than any tea entering Boston harbor.

Just like the program it copied from Europe, in this mandatory system, some people with good genes and from fortunate races win very big.  While other people from bad genes and from unfortunate races are born into the world with no way to win.  They are big losers under an artificial man-made scheme.

Your property, the fruit of your labor, your savings are transferrable, or you do not really own them.  They belong to a higher authority concept rejected in the 1700's.

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JiggleTheHandle said:   Some people are born into families with very short-lived genetics.  Everyone in the famile tree dies young.

Some people are born into families with long-lived genes.  The tradition is everyone lives to see late 90's barring an accident which makes them die young.

Some races live longer.  Some die younger.

So, retirement payments mandated by law taken from every paycheck, which are not allowed to be saved and lifetime earned assets transfered to surviving loved ones, are highly unethical theft more brutal than any tea entering Boston harbor.

Just like the program it copied from Europe, in this mandatory system, some people with good genes and from fortunate races win very big.  While other people from bad genes and from unfortunate races are born into the world with no way to win.  They are big losers under an artificial man-made scheme.

Your property, the fruit of your labor, your savings are transferrable, or you do not really own them.  They belong to a higher authority concept rejected in the 1700's.

  Now I know who drank all the eggnog.

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What is the asset? There can be a variety of reasons.

1) If it's a mutual fund, possibly because there's no agreement between the fund company and the broker. For example, Fidelity cannot transfer in Vanguard Admiral shares.
2) If it's a penny stock, possibly for risk management. Penny stocks can be used for money laundering or other illicit activities and their risk management department may just choose not to accept that security.

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Thrilla said:   What is the asset? There can be a variety of reasons.

1) If it's a mutual fund, possibly because there's no agreement between the fund company and the broker. For example, Fidelity cannot transfer in Vanguard Admiral shares.
2) If it's a penny stock, possibly for risk management. Penny stocks can be used for money laundering or other illicit activities and their risk management department may just choose not to accept that security.

  See OP's post above:
626207YS7:
(MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA PLANT VOGTLE UNITS 3&4 PROJECT P BONDS TAXABLE SERIES 2010A (ISSUER SUBSIDY - BUILD AMERICA BONDS) MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA PLANT VOGTLE UNITS 3&4 PROJECT P BONDS TAXABLE SERIES 2010A (ISSU (GA))

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GoldenSacks said:   
Thrilla said:   What is the asset? There can be a variety of reasons.

1) If it's a mutual fund, possibly because there's no agreement between the fund company and the broker. For example, Fidelity cannot transfer in Vanguard Admiral shares.
2) If it's a penny stock, possibly for risk management. Penny stocks can be used for money laundering or other illicit activities and their risk management department may just choose not to accept that security.

  See OP's post above:
626207YS7:
(MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA PLANT VOGTLE UNITS 3&4 PROJECT P BONDS TAXABLE SERIES 2010A (ISSUER SUBSIDY - BUILD AMERICA BONDS) MUNICIPAL ELECTRIC AUTHORITY OF GEORGIA PLANT VOGTLE UNITS 3&4 PROJECT P BONDS TAXABLE SERIES 2010A (ISSU (GA))

  BrunoB is not the OP.

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