Frequently Asked Questions

Common Questions Received from Potential Members

  1. Can I purchase shares to be registered to someone other than myself or spouse?
    Yes, unlike brokers or programs which restrict purchase to the account holder only, the First Share program permits you to resgister shares however you wish. You will specify the registration information for each share on the share purchase agreement that is provided by the selling member. However, the purchase agreement must be signed by the First Share member, and the member is responsibe for payment to the seller.

    If you wish to purchase shares of the same company for more than one individual, FIRST SHARE suggests that you purchase the initial share in your name, enroll in the company's DRiP, purchase additional shares directly from the company, THEN transfer shares from your account to whomever you wish. While this takes longer than requesting multiple shares of the same company through FIRST SHARE, you will save unecessary fees. For example, if you wish to purchase three shares of Coca-Cola, one for each of your children, you will pay three referral fees to FIRST SHARE ($15 or $45 total, depending upon your membership level). You can save $10 to $30 by requesting one share ($5 to $15 total, depending upon your membership level) to be registered in your name, purchasing two additional shares in your DRiP account and then transferring one share to each of your children at no additional cost.
  2. If I change my mind about a company I have requested, may I request a different company? Requests are processed upon receipt. If you no longer with to purchase a share in the company you have requested, you may return the agreement to the seller with a notice that you do not wish to purchase the share. A request for a different company is considered a new request and a new referral fee is required for processing.
  3. What is the cost of participating in the FIRST SHARE program? One year's membership fee for FIRST SHARE PRO members is $40 and there is no annual membership fee for FIRST SHARE CLASSIC members. Members may request any of the companies in the FIRST SHARE program at any time during there membership. Each request incurs a referral fee of $5 (FIRST SHARE PRO members) or $15 (FIRST SHARE CLASSIC members).
    Selling members typically charge a convenience fee of $7.50 (in addition to the price of the share) to cover their expenses in transferring the share to, and establishing a DRiP account for, the purchasing member. Since the selling member establishes a new DRiP account for the purchaser and transfers one share into the purchaser's account, the purchaser saves money by not having to pay the company's DRiP enrollmet fee (typically $15).
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