What is the name of the receiving brokerage firm when transferring stocks to Daffy?


To ensure that your stock contribution is attributed to your account quickly, you must first create a stock contribution intent on the Daffy app or website. This can be done by selecting “Stock” in the “Add Funds” section and answering the prompts to let Daffy know your stock is coming. Daffy accepts nearly all publicly traded stocks and ETFs, making it a versatile option for your charitable contributions. Once received, all stock is liquidated and the balance is added to your Daffy account as soon as it is available. The process is straightforward. After creating a Daffy stock contribution intent, you log into your Vanguard account, click on "Forms", then "Add or remove owners, inherit accounts, gift shares", and finally "Gift assets to individual/organization". You then select "Other financial institutions" and fill in the DTC: 0158. After selecting the number of holdings and revealing your identity to the charity, you fill in the receiving brokerage firm's information, which is Apex Clearing. Remember, Daffy is a great option for a Donor-Advised Fund (DAF). It's a simple, efficient, and versatile platform for managing your charitable contributions. Plus, it's important to note that Daffy does not have access to cost basis information for contributions, so you will need to record the cost basis of an asset you are donating before transferring the asset to charity. In conclusion, Daffy's streamlined process, acceptance of a wide range of publicly traded stocks and ETFs, and commitment to quick account attribution make it an excellent choice for your DAF needs.

Please note that the information contained on this page is for educational purposes only and should not be considered tax advice. Any calculations are intended to be illustrative and do not reflect all of the potential complexities of individual tax returns. To assess your specific tax situation, please consult with a tax professional.

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