How can I fix my broker setup?
I have two main problems I want to solve and I hope some more experienced apes can help me with them:
I have some stock in Moomoo (FUTU’s app) and I’ve been wanting to transfer it to my Fidelity account just because I feel I can trust Fidelity over FUTU with handling my future tendies. However it’s a multi-week process to formally transfer (purposefully difficult on FUTU’s end), so to me it seems more reliable and quick if I first rebuy my shares in Fidelity, then just sell my shares in Moomoo. That would take a couple days over a few weeks. Does anyone have a better suggestion?
When I got excited about trading and talking about it more and more, some family of mine had me buy a few shares ON THEIR BEHALF. Which at first when we were playing/gambling didn’t seem like a big deal. But now looking forward to actual serious gains I’m realizing this “shared account” can be a very big deal as far as taxes and/or gifting goes. So what would be best for me to do? Getting these shares into their actual owners’ names?
TIA for any advice! 💎🙏🏼🦍
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