I called Ally Invest, the platform I use for my in
Post# of 154115
(Total Views: 597)
Posted On: 04/03/2020 3:54:50 PM
I called Ally Invest, the platform I use for my investments. I spoke with them in concern to my shares being loaned out. They explained to me that my account is not set up for them to loan the shares.
They do have a feature available called, Fully Paid Securities Lending. This is a feature you have to sign up for, and also sign off on having. This would allow them to loan your shares to a third party institution.
I made the rep that I spoke with double check, and he verified to me that my account is not enrolled in this program, so my shares are not being loaned out. He did explain that thru the Fully Paid Securities Lending program, it gives you the opportunity to make additional money thru the fee that they pay you for the use of your shares. I explained to him that I was not interested.
So I would hope he was on the up and up with me. I would think so. I don't know if this will help anyone. I think I am the only person that uses Ally Invest. I do have to say, I enjoy their platform and ease of use.
Take care and enjoy the weekend.
They do have a feature available called, Fully Paid Securities Lending. This is a feature you have to sign up for, and also sign off on having. This would allow them to loan your shares to a third party institution.
I made the rep that I spoke with double check, and he verified to me that my account is not enrolled in this program, so my shares are not being loaned out. He did explain that thru the Fully Paid Securities Lending program, it gives you the opportunity to make additional money thru the fee that they pay you for the use of your shares. I explained to him that I was not interested.
So I would hope he was on the up and up with me. I would think so. I don't know if this will help anyone. I think I am the only person that uses Ally Invest. I do have to say, I enjoy their platform and ease of use.
Take care and enjoy the weekend.
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