Investment Account

Matthew matthew at
Sun Aug 28 20:31:27 EDT 2022

Thanks for the work on this. I have no objections to any of those proposed
configurations. I don't feel about my presence on the account. I'm happy to
be there, or not. 😃


On Sun, Aug 28, 2022, 18:56 Richard Laager <rlaager at> wrote:

> Summary:
> The board tasked me with investigating opening a brokerage account. We
> would like to have one such that people could donate stock to us.
> I spoke to Fidelity about opening an account. It seems relatively
> straightforward. There are some hoops to jump through, but I expect this
> would be the same or similar anywhere. There aren't any fees, so we
> aren't going to get a better deal anywhere else.
> Proposed Action:
> I propose we open a brokerage account with Fidelity, with at least John
> (assuming he is able to) and me on the account. Matthew MAY be on the
> account if he or the group wishes, and SHOULD be on the account if John
> cannot. While externally a SHOULD, I believe we should view having a
> minimum of two people on the account as a MUST from our point of view.
> Details:
> The application is here:
> Pages 1-15 are the application. We would NOT need the "Trusted Contact
> Authorization Form".
> There can be up to 7 people who have (full) access to the account. One
> of those SHOULD be a Control Person (President, Vice President, or
> Treasurer). If none are, then a Control Person's information still MUST
> be provided. Assuming our website's list is accurate, those people are
> John (as President and Treasurer) and Matthew (as Vice President).
> The PDF only supports filling in two people. We'd have to print and
> insert additional pages for more than two.
> According to the checklist on page 15, it seems that we will need to
> submit a copy of our Articles of Incorporation.
> Additionally, if I'm reading this correctly, we need to either have ALL
> Authorized Individuals (which I think is the same as Control Person, so
> President, Vice President, and Treasurer) on the application OR one of
> the people NOT listed must also sign the form.
> If John is one of the people, there may be additional requirements since
> he works for a "financial institution". See the "Associations" section,
> page 4, which reads:
> > If you are employed by or associated with a broker-dealer, stock
> exchange, exchange member firm, the Financial
> > Industry Regulatory Authority (FINRA), a municipal securities dealer, or
> other financial institution, or are the spouse or
> > an immediate family member residing in the same household of someone who
> meets the aforementioned employment criteria, provide the company’s name
> and address below. By providing this information and completing this form,
> > you hereby authorize Fidelity to provide the associated person’s
> employer with duplicate copies of confirmations and
> > statements, or the transactions data contained therein, for your
> account(s) and any accounts you choose to have on a
> > consolidated statement for purposes of their compliance review.
> I recall volunteering to manage the brokerage account, if the group
> desires. Some possible configurations might be:
>     - John & Richard
>     - John, Matthew, & Richard
>     - John & Matthew
>     - Matthew & Richard (e.g. if being on the account is a problem for
> John)
> We will need to link the corporate bank account at some point to get
> money in or out, so we might as well do that as part of the account
> setup. We will need the routing and account numbers, plus "a voided
> check, deposit slip, or bank statement with the account number and all
> owner names preprinted on it."
> --
> Richard
> --
> Richard
> _______________________________________________
> Board mailing list
> Board at
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