![]() That last point is what makes it different than a simple notarization from a notary, although it’s often confused with one. The stamp and signature by the financial institution is a guarantee that your personal signature is valid, that you are who you say you are, that you legally own the assets you’re trying to transfer, and generally that the financial institution will accept liability in the case of forgery. They also have a prefix that indicates their surety limit, which limits how much they can guarantee the transaction for: They now contain a barcode, and have an invisible security compound in the ink that can be read by special “Stamp 2000 Plus” scanners used by transfer agents. Starting in the 1990s, due to the increasing prevalence of identity theft and fraud, the security measures used for these stamps increased. Medallion Signature Guarantees 101Ī medallion signature guarantee, with the unfortunate acronym MSG, is a special stamp and signature combo that certain financial institutions can give to verify your identity for the transfer of securities. So, I went and researched it in more depth, and this guide covers what exactly a medallion signature guarantee is and how to get one. I’m usually pretty good with the details on forms, and I remembered seeing a spot near my signature for a medallion signature guarantee, but I had assumed that because my stocks were held in street name by my brokerage, it didn’t apply to me. S0, a few years ago as part of a financial account consolidation to simplify, I decided to transfer all my assets from that brokerage firm to another one.īut I was informed that I had to start the process all over because I didn’t have a medallion signature guarantee. ![]() Moving a lot of assets from one brokerage to another can be a hassle.Ī brokerage firm that I started investing with as a teenager, and eventually opened a Roth IRA with during college, kept getting acquired by bigger companies, changing its name and features, but never really expanded and improved its offerings in line with what the best competitors were doing.
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