Fractional Shares: Unlocking The Power Of Partial Ownership With Ally Invest

As of July 2024, fractional shares are not available at Ally Invest. However, you can buy whole shares or your entire position if it doesn't equal a whole share. You can also sell fractional shares by calling 1-855-880-2559.

Fractional shares cannot be bought or sold on Ally Invest

Ally Invest does, however, allow for the accumulation of fractional shares through their dividend reinvestment plan (DRIP). This is a free program that automatically uses cash dividends to purchase additional whole or fractional shares of your investment. While you cannot sell these fractional shares directly, they will be automatically liquidated when you sell the whole number of shares.

For example, if you have 1.2 shares and decide to sell 1, the remaining 0.2 shares will be automatically liquidated. If you want to liquidate a leftover fractional position, you will need to call Ally Invest at 1-855-880-2559.

It is worth noting that fractional shares are a great way for beginners to invest, as they allow investors to buy a fraction of a share for as little as $1. This helps to diversify an investor's portfolio, reducing the risk of individual shares.

Fractional shares can be liquidated by calling Ally Invest

To liquidate your leftover fractional shares, you must first close the entire position. This means that if you have 1.2 shares, you can only sell 1, and then the remaining 0.2 shares will be liquidated. The fractional shares will be sold at the closing price of the stock for the day the liquidation request is received.

Ally Invest does not currently offer fractional shares. However, they do offer dividend reinvestment plans (DRIPs) that can result in fractional shares. For example, if you have DRIP turned on and sell your entire position in a company, you will be left with fractional shares. In this case, you would need to call Ally Invest to liquidate the remaining fractional shares.

It is important to note that fractional shares will be automatically liquidated when an order to sell the whole number of shares is filled in its entirety. This means that if you have 1.2 shares and sell 1, the remaining 0.2 shares will be automatically liquidated without needing to call Ally Invest.

Ally Invest offers a wide range of investment options with some of the lowest commissions in the industry. They provide various tools and resources to support investors in making informed decisions, such as in-depth research and market analysis tools.

DRIP can be enrolled or unenrolled once per day

DRIP, or Dividend Reinvestment, is a free program offered by Ally Invest that allows cash dividends you receive to be automatically used to purchase additional whole or fractional shares of your investment. This lets shareholders accumulate stock over the long term without paying commission fees.

You can enrol or unenrol in the dividend reinvestment program once per day. To do this, go to your settings in Ally Invest Live and select the gear icon next to Home. Choose All Settings from the dropdown menu and find the toggle for dividend reinvestment at the bottom of the screen. You can also call 1-855-880-2559 to add or remove individual stocks.

It is important to note that any eligible security will need to be enrolled for DRIP prior to the ex-dividend date in order for the dividend to be reinvested.

Ally Invest offers a wide range of investment options

For the hands-on investor, Ally Invest offers a self-directed trading approach with no commission fees on U.S.-listed stocks, ETFs, or options, and no account minimums to get started. This option provides a wide variety of investment choices, in-depth research tools, and market analysis tools to support all types of investment strategies.

For those who prefer a more hands-off approach, Ally Invest offers automated investing through robo-portfolios. This option has no advisory fees, rebalancing fees, or annual charges, and investors can get started with as little as $100. The robo-advisor technology automatically manages the portfolio to ensure the plan stays on track.

For those seeking personalized advice, Ally Invest offers dedicated advisors who provide exclusive support and guidance for all assets, even those not managed by Ally Invest. This option requires a minimum of $100,000 in assets under care.

Ally Invest also provides a variety of resources and tools to help investors make the most of their investments, including advanced charting tools, calculators, and informational articles.

In terms of specific investment options, investors can choose from:

• Stocks
• ETFs
• Options (equity and index)
• Mutual Funds
• Fixed Income (corporate, agency, treasuries, municipals, strips & zeros, CDs, and new issues)

Ally Invest has a dedicated support team

In addition to the support team, Ally Invest also provides clients with access to informational articles, advanced charting tools, and numerous calculators to help them make the most of their investments. The platform also offers dynamic streaming, allowing users to manage their accounts, access their portfolios, and make trades across multiple devices, including desktop and mobile apps for iPhone and Android.

Ally Invest is a member of the Securities Investor Protection Corporation (SIPC), which provides protection for customer funds of up to $500,000, with a maximum of $250,000 for cash claims. This coverage helps ensure that clients' funds are protected in the event that Ally Invest fails, although it does not protect against investment losses from market fluctuations.

For those seeking more hands-on guidance, Ally Invest offers a Personal Advice service with a dedicated advisor and exclusive support from their advisor support team. This service requires a minimum of $100,000 in assets under care and provides goal-focused guidance for all your assets, even those not managed by Ally Invest. The Personal Advice service also includes a personalized financial plan and on-demand advice as needed.

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