If you, like me, used recent events as an excuse to leave the clowncar Robinhood, double-check that the cost basis for the transferred shares is correct. Robinhood apparently managed to send Vanguard random numbers for my portfolio.
Even on really simple cases of a few shares bought a year ago and never traded at any point later, the cost basis is just... wrong? For my entire portfolio, plus a few dollars/share here, minus a few dollars/share there, not really any reasoning for any of it, but definitely an overall much lower total cost basis than actually should have been there.
If you haven’t left Robinhood yet, get out. This kind of technical incompetence isn’t just embarrassing, it’s scary. You don’t want to keep your money in a clown car.
Submitted March 14, 2021 at 01:09AM by TheBlueMatt https://ift.tt/3rN6HqL