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Enterprise Products Partners L.P. Message Board

  • lizahuang54321 lizahuang54321 Jan 24, 2012 4:43 PM Flag

    Attn: Arb

    Could you post or PM on IV for me?
    There is the following post on the BRY board

    I had been through this before and got it narrowed down to exactly where the problem is, and have a contact name and email for him.

    Since I'm not a IV member I can't post or PM.
    If he wants to either provide his email address or just post the question on the BTE board I can help him.


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    • Sent a PM to him. Suggested he go to the BTE board. Interesting as I hold BTE and do reinvest. It takes two days to convert the CAN$ to US$ and about 2 more to get it through the agent. Should not take that long!

      • 1 Reply to arbtrdr
      • The issue is not limited to Wells Fargo although sometimes seems to be worse there. I used to have an account at WF (as well as another brokerage) but have closed my WF account.

        Some months back I was having a lot of delays with Canadian dividends (some companies seemed to be affected more than others) and I followed up with the brokerages and the individual companies. I got a consistent story from both brokerages so do not believe it was brokerage specific. I pieced together the following flow for the dividends:

        company->Canadian Transfer Agent (I believe Compushare Canada for many of them)->DTC (Depository Trust Company)->JP Morgan (for currency conversion)->brokerage.

        The evidence all pointed to JP Morgan being the hold up as I was given timestamps of when it left DTC and when it arrived at the brokerage. As far as I could tell they seem to have resolved it now and I'm no longer getting delays at my current brokerage - so why Wells Fargo is still tardy is strange.

        However the head of the department at JP Morgan where the delay apparently stems is this guy:
        Gennaro Contella
        +1 212 552 0545
        When I was experiencing problems he asked me to have my broker call him. The guy asking about BTE dividends could have Wells Fargo contact him.
        However I'm holding BTE at Etrade and not currently getting any delay.

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