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Joint CDS A/C
Rank: Member Joined: 9/27/2011 Posts: 123 Location: Nairobi
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Hi all. Am new here though I've played stocks for some time. In my bid to be transparent to my other half we opened a joint CDS A/C intending to transfer everything in my CDS to the joint one. I wrote to my CDA on this only to be told to have the transfer form & copies of supporting docs notarized for this to be effected. Further I was informed that every buy or sell order placed will have to be done jointly though our intention was for it to be operated by either. Efforts to get help from CDSC are fruitless so far. Is this so Wazuans?
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Rank: User Joined: 8/29/2011 Posts: 1,045 Location: Mtaani
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U must be joking ? To buy and sell the two of you have to better ? Get real . Lol. Its ur money . U want to tell me u are accountable to ur wife for ur money.
That finantial bullying frm ur wife. Hahaha.
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Hapo @QW25081985 I have to agree with you, something I rarely do.
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Rank: Veteran Joined: 11/21/2006 Posts: 1,590
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These are trust issues. How much does she know about stocks? Sehemu ndio nyumba
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Rank: Member Joined: 9/27/2011 Posts: 123 Location: Nairobi
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Mainat wrote:These are trust issues. How much does she know about stocks? Guys, it seems you did not get my question. Its not WHY it was opened but HOW it is operated. For different reasons I could open a joint one with u qw or gekko but how do we operate it?
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Rank: Member Joined: 10/8/2010 Posts: 763 Location: Intersection
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KiFagio wrote:Hi all. Am new here though I've played stocks for some time. In my bid to be transparent to my other half we opened a joint CDS A/C intending to transfer everything in my CDS to the joint one. I wrote to my CDA on this only to be told to have the transfer form & copies of supporting docs notarized for this to be effected. Further I was informed that every buy or sell order placed will have to be done jointly though our intention was for it to be operated by either. Efforts to get help from CDSC are fruitless so far. Is this so Wazuans? doesn't that answer ur question on how it is/will be operated? and since you are not new to trading and you know how a single person trades, now make that joint  lakini hii ni mpya...joint trading 
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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Sawa @KiFagio. A CDS A/C is like a bank account, the signing mandate determines how it is operated. The mandates will be maintained and adhered to by your broker. If they say all to sign, both of you will have to sign the buy/sell order. If it says any one, then any of the two of you will be able to do so. Now lets deal with the WHY. Is it because you want her to automatically inherit the shares when you croak? She will still need Letters of Administration for that, whether she has a part ownership or not.
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Rank: Member Joined: 9/27/2011 Posts: 123 Location: Nairobi
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Gordon Gekko wrote:Sawa @KiFagio. A CDS A/C is like a bank account, the signing mandate determines how it is operated. The mandates will be maintained and adhered to by your broker. If they say all to sign, both of you will have to sign the buy/sell order. If it says any one, then any of the two of you will be able to do so. Now lets deal with the WHY. Is it because you want her to automatically inherit the shares when you croak? She will still need Letters of Administration for that, whether she has a part ownership or not. The mandate was either to operate only to be informed much later that both had to sign for all orders. WHY? She knows its there and for your information I do not intend to kick the bucket any time soon!
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Rank: Member Joined: 12/15/2009 Posts: 142 Location: Nairobi
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KiFagio wrote:Gordon Gekko wrote:Sawa @KiFagio. A CDS A/C is like a bank account, the signing mandate determines how it is operated. The mandates will be maintained and adhered to by your broker. If they say all to sign, both of you will have to sign the buy/sell order. If it says any one, then any of the two of you will be able to do so. Now lets deal with the WHY. Is it because you want her to automatically inherit the shares when you croak? She will still need Letters of Administration for that, whether she has a part ownership or not. The mandate was either to operate only to be informed much later that both had to sign for all orders. WHY? She knows its there and for your information I do not intend to kick the bucket any time soon!  I like the last ,Pray hard brother UKITAFUTA UKABILA UTAKUFA BILA!
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Silly Kikuyu! When will you ever know that there is mine, ours and theirs? Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Silly Kikuyu! When will you ever know that there is mine, ours and theirs? Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 3/2/2009 Posts: 26,330 Location: Masada
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Suppose you trade online like @acivelite? Your case is inadvertently regretttable... Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Rank: Elder Joined: 6/27/2008 Posts: 4,114
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KiFagio wrote:Hi all. Am new here though I've played stocks for some time. In my bid to be transparent to my other half we opened a joint CDS A/C intending to transfer everything in my CDS to the joint one. I wrote to my CDA on this only to be told to have the transfer form & copies of supporting docs notarized for this to be effected. Further I was informed that every buy or sell order placed will have to be done jointly though our intention was for it to be operated by either. Efforts to get help from CDSC are fruitless so far. Is this so Wazuans? First of all, I must commend you for choosing to be open with your partner. Secondly, I think your broker is being silly by insisting on signatures from both of for all trades. Move out and come to my brokers (NIC). You will sign one indemnity form authorising them to your abey emailed instructions and that's it. You can begin trading. Nothing is real unless it can be named; nothing has value unless it can be sold; money is worthless unless you spend it.
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Rank: Member Joined: 9/27/2011 Posts: 123 Location: Nairobi
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mukiha wrote:KiFagio wrote:Hi all. Am new here though I've played stocks for some time. In my bid to be transparent to my other half we opened a joint CDS A/C intending to transfer everything in my CDS to the joint one. I wrote to my CDA on this only to be told to have the transfer form & copies of supporting docs notarized for this to be effected. Further I was informed that every buy or sell order placed will have to be done jointly though our intention was for it to be operated by either. Efforts to get help from CDSC are fruitless so far. Is this so Wazuans? First of all, I must commend you for choosing to be open with your partner. Secondly, I think your broker is being silly by insisting on signatures from both of for all trades. Move out and come to my brokers (NIC). You will sign one indemnity form authorising them to your abey emailed instructions and that's it. You can begin trading. Thanks. I will move.
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Rank: Elder Joined: 8/16/2011 Posts: 2,360
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That guy is not a real broker but an agent to a broker and does not understand what is on a CDSC form. It has options for single, partner and or group with signatures required and photos or IDs. For a Group you will be required to state signatories and joint bank account. For 2(partners) you have chance for either but must be indicated until otherwise. Maze tuko Kenya where Techno. Iko Juu! For an order to sell they may want to verify buy calling both indicated telephones or you account may be joint as well and can be indicated! dunkang wrote:Silly Kikuyu! When will you ever know that there is mine, ours and theirs?
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Rank: Member Joined: 4/19/2007 Posts: 68
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200 billion Kenya Shillings is sitting in banks, lawyers offices, listed companies and many other locations because the owners died and there is no contact for the next of kin, so listen to this mediocre thinkers and your assets shall soon be added to the pile of unclaimed assets.
"A good [man] leaveth an inheritance to his children's children: and the wealth of the sinner [is] laid up for the just"
It is good that from all the noise someone actually did give you a solution, mine is to those short sighted men who think like Juha Kalulu, cutting the branch they are sitting on.
The issue of keeping information on ownership of assets from one's spouse is a Kiambu Kikuyu mans myth, the Muranga men are much wiser.
In the traditional African setting there was total transparency across the clan.
Our so called modern lifestyles where we hide such vital information about the assets we have from our spouses makes one wonder for who are we acquiring such assets if not to provide for our families. If you suspect that the children you are bringing up are not users please have a DNA test whichever way it turns out would you rather leave your assets to people you know than to total strangers?
With the new constitution that allows for polygamy & soon polyandry there is a greater need for transparency than ever before. For any women who read this please make sure that all the assets are held by a limited liability company with you and you husband having a 50/50 share holding therefore if he decides to marry that 18 year old tight skinned hussy she can only share in his half not yours.
Even the neanderthal man was transparent to his wife about his assets and even his share in the next group kill, so imagine how much more pre-historic your thinking is?
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Rank: Member Joined: 1/26/2010 Posts: 124
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reposted below Tired of mediocrity. Am going to the very top!
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Rank: Member Joined: 1/26/2010 Posts: 124
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stocksguru wrote:200 billion Kenya Shillings is sitting in banks, lawyers offices, listed companies and many other locations because the owners died and there is no contact for the next of kin, so listen to this mediocre thinkers and your assets shall soon be added to the pile of unclaimed assets.
"A good [man] leaveth an inheritance to his children's children: and the wealth of the sinner [is] laid up for the just"
It is good that from all the noise someone actually did give you a solution, mine is to those short sighted men who think like Juha Kalulu, cutting the branch they are sitting on.
The issue of keeping information on ownership of assets from one's spouse is a Kiambu Kikuyu mans myth, the Muranga men are much wiser.
In the traditional African setting there was total transparency across the clan.
Our so called modern lifestyles where we hide such vital information about the assets we have from our spouses makes one wonder for who are we acquiring such assets if not to provide for our families. If you suspect that the children you are bringing up are not users please have a DNA test whichever way it turns out would you rather leave your assets to people you know than to total strangers?
With the new constitution that allows for polygamy & soon polyandry there is a greater need for transparency than ever before. For any women who read this please make sure that all the assets are held by a limited liability company with you and you husband having a 50/50 share holding therefore if he decides to marry that 18 year old tight skinned hussy she can only share in his half not yours.
Even the neanderthal man was transparent to his wife about his assets and even his share in the next group kill, so imagine how much more pre-historic your thinking is? tell them! Tired of mediocrity. Am going to the very top!
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Rank: New-farer Joined: 8/7/2011 Posts: 10 Location: Nairobi
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I see a mere question can turn to bitter exchange of word but I just wonder why ladies(as I can judge from their bitterness) are concerned with 50/50 and yet they only want men to share with them what they have aquired. Where is the 50 percent that they(ladies) have also amassed. kwa nini sioni mrembo a kiuliza, 'ooye I also want to know how we can operate my account with my hussi' Not that am against the dude being transparent but if you are that concern, transfer the half of the shares to her account and let her operate it. two cooks spoil the potage, kama ni kukufa andika wasia.
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Rank: Member Joined: 1/28/2009 Posts: 353 Location: Cloud
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Gordon Gekko wrote:Sawa @KiFagio. A CDS A/C is like a bank account, the signing mandate determines how it is operated. The mandates will be maintained and adhered to by your broker. If they say all to sign, both of you will have to sign the buy/sell order. If it says any one, then any of the two of you will be able to do so. Now lets deal with the WHY. Is it because you want her to automatically inherit the shares when you croak? She will still need Letters of Administration for that, whether she has a part ownership or not. @Gecko, true there. i am aware of a joint CDS account and when one signatory passed on, the other 2 continued to operate it through NIC- Email. Trouble came when tried to change the deceased signatory. The Letters of Admin took long so we withdrew everything [any 2 could sign]and reopened the account with fresh mandates. "For i am the master and the captain of my fate"
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