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June 7, 2007 - ICLUB News
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ICLUB Insider June 7, 2007

This is not a communication from BetterInvesting™ or NAIC.
We're ICLUBcentral. Since 1989, we've provided software and services for the majority of U.S. investment clubs.


Important Merger Information for TD Waterhouse Customers

SPECIAL ALERT: if you or your club are having account trouble due to the merger between TD Waterhouse and Ameritrade, please contact the ICLUB Support Team.

Since the merger of TD Waterhouse and Ameritrade, former Waterhouse customers have noticed a change in the number of shares they own. Waterhouse kept track of stock purchases to four (4) decimal places (12.3456 shares), while Ameritrade kept track of purchases to three (3) decimal places (12.345 shares). Post-merger, TD Ameritrade tracks only to three (3).

What happened to the fraction?

In short, as of May 8th, 2007, TD Ameritrade rounded up, even if you had the barest fraction of a share. For example:

  • Your club owned 60.2011 shares of XYZ Company.

  • After the merger, your club now owns 60.202 shares of XYZ Company.

  • The extra 0.0009 shares were purchased by TD Ameritrade on your behalf.

  • There are no sales or purchases in connection with these shares.

How do I track this in Club Accounting?

Well, if you don't have any fractional shares, you're fine -- there's nothing you need to do at all. If you do have fractional shares, here's what to do:

  • Do not make a beginning balance adjustment.

  • Do not purchase more shares to make the numbers come out.

  • Instead, this should be entered as a stock split.

Step 1) Select Stock Split:

  • In Accounting > Securities > Stock Split

  • In CA3: Transactions > Stock Split

Step 2) Fill out the form for the stock split, selecting the stock and all details. For the Shares after the split field, enter the new number from the broker statement.

For example, if I owned 60.2011 shares and the broker statement now says I own 60.202 shares, I would enter 60.202 in the Shares after the split field.

Step 3) Complete the stock split:

  • In select Submit

  • In CA3: select OK

That's it! Repeat for any other stocks that have been rounded. If you need further assistance, please don't hesitate to contact our ICLUB Support Team.

Special note:

In some instances, the conversion to TD Ameritrade has resulted in small monetary adjustments, on the order of $0.14. We are told this has nothing to do with the adjustment to the shares, but is an adjustment of the interest income for the cash balances held at Waterhouse for a portion of the month. You can enter this as interest or money market dividends, as the case may be.

Shannan Scarselletta Joins the ICLUBcentral Staff

ICLUBcentral is delighted to announce the addition of another member to the ICLUB family. Shannan Scarselletta, a native of Buffalo, New York, has recently been hired as our summer marketing intern. The baby of the ICLUB family, Shannan has just completed her second year of undergrad at Cornell University, where she is a member of the Women's Basketball team and an opinion columnist for the Cornell Daily Sun.

Shannan will be assisting our Marketing Manager, Per Ostman, by adding charm and churlish wit to newsletters and customer communication (like right now).

Do You Have Chartered Financial Analysts Working for You?

Ambitious, intrepid, intuitive, and -- dare I say -- charming: you already have the inherent qualifications of an investing powerhouse. Your personality, wit, and unsung modesty make you a stock market natural. You might even own a pinstripe (pant) suit and/or the 1987 classic Wall Street on both VHS and DVD.

But, as you well know, one can't build a strong investment portfolio on cunning and curiosity alone. What you need is the solid foundation of up-to-date information, years of experience, and a thorough understanding of the jungle known as the stock market. Enter: the Investor Advisory Service newsletter.

The IAS is a comprehensive and unbiased monthly aid to investing that ICLUBcentral offers both in print and online forms. Independently developed by the Seger-Elvekrog money management firm and edited by ICLUBcentral's Doug Gerlach, the IAS provides over three decades of investment experience, knowledge, and success. But you, as a shrewd natural-born investor, wouldn't be coaxed by the mere fact that the IAS has consistently outpaced the overall market each year since 2000. Nor are you easily won over by its track record of substantial cumulative returns. You, skeptical analyst, need evidence. So, go ahead -- download a sample issue of the IAS newsletter.

Why should you trust the IAS? The analysis is done by Chartered Financial Analysts (CFAs) -- financial professionals who have successfully completed rigorous training and testing to earn the highest level of certification. (As we say in Boston, these guys are wicked smaht.) Furthermore, Seger-Elvekrog CFAs are entirely independent of Wall Street influence, ensuring that their recommendations are honest and unbiased.

Reading the IAS is like having trained CFAs working for you on your portfolio, which, let's be honest, is exactly what you want.

Although your keen instincts are telling you to sign up now, we would again like to support your intuition with information. Don't forget to download a sample issue of the IAS, and see for yourself.

You provide the ambition, let the Investor Advisory Service provide the insight. (Pinstripe pant suit not included.)

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© Copyright 2007
ICLUBcentral Inc.
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Some ICLUBcentral products use the investing methodologies of BetterInvesting, a national nonprofit organization dedicated to investor education. However, ICLUBcentral and BetterInvesting are entirely separate organizations. BetterInvesting assumes no liability or obligations with respect to the investment education information or other content presented in the ICLUB Insider.

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