I think it is standard practice with about every broker dealer. The charge at my B/D is $1.00 per position reinvested and the amount of dividends must be at least $3.00 to be eligible for reinvestment.

No charge at RJ if they have an elite account.  $250,000 or more gets a free elite account.

We use Pershing as a custodian and they charge $1.00 per position if dividends are reinvested.

UBS did not charge.

I don't think LPL charges.

I decided about 4 years ago to STOP reinvesting dividends on stocks because it creates an accounting nightmare to calculate basis, and takes control out of your hands as far as what price you're willing to pay for a particular security.

[quote=joedabrkr]UBS did not charge.

I don't think LPL charges.

I decided about 4 years ago to STOP reinvesting dividends on stocks because it creates an accounting nightmare to calculate basis, and takes control out of your hands as far as what price you're willing to pay for a particular security.[/quote]

I don' think LPL charges either, and ditto on not reinvesting...what a pain in the rear as far as cost basis tracking.  I believe that it's better to take accumulated dividends and use those to rebalance and/or take new positions.  If clients are too cheap for that, they're not for me anyway.

[quote=tivo]

I'm with SB and we have been charging a fee for the reinvesmnet of dividends on stocks.  Is this a standard practice with ML, UBS and Morgan?

Thanks.

[/quote]

MS doesn't. They used to in what was called a "basic securities account", but those accounts are history now.