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How you all made the broker I worked at change policies.
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I worked for about 1.5 years as a series 7/63 service support member with the broker mostly used to DRS shares to Computershare. I worked there between 2022-2023. While I was undergoing training they taught us about how to DRS shares, this was before the automated tool for clients to use. Prior to the DRS movement the broker would reimburse all ACAT fees charged by the contra firm to incentive clients to stick with us.

I was told by one of the trainers. That due to the influx of people ACAT transferring over small amounts of GME shares and then requesting the fee to be reimbursed, just to then DRS the shares to Computershare. They changed policy to be $25,000 per transfer before the ACAT fee would be reimbursed.

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4 months ago