March 22nd, 2010
I have an account with an investment firm. They tell me I own so many shares in a certain company. I do not recieve stock certificates. Is the shares i am credit for in my name or the envestment company I have my 401k?Whether you have stocks or mutual funds in your account, they are most likely in Company's Street name and credited to your account. This is pretty much standard practice in the investment field. In fact very few stock shares exists and are transferred, almost all stock transfers are electronic. They more than likely own those shares in mutual funds, not individual stock. So you own a percentage of whatever funds they own.The stocks will be in your name, in your 401k account. Your ownership is all electronic. Most 401k accounts are in mutual funds, however, you can be set up to own individual stocks. The individual stock would generally be common stock for the company you are working for. #If you have any other info about this subject , Please add it free.# |
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