Buying, or receiving some small share of a company’s future can have all kinds of positive effects on that company’s relationship with its consumers.“That really reinforces loyalty,” Schatt said.Īs Stockpile expands across the U.S. Moving further down the line, it’s possible that you could wind up getting a small share of GM stock the next time you test drive one of their cars. Schatt says the company has already fielded requests from company managers looking to provide shares to their employees as a way to thank them for hard work on projects, or for exceeding sales or productivity targets. “For some very large companies that have tens or hundreds of thousands of employees, some of whom are not eligible for stock options or having a 401(k), now it’s as easy as giving them a gift card,” Schatt said. A survey conducted by loyalty marketing services firm Colloquy found the average American household is currently participating in more than 21 loyalty rewards programs, and Schatt sees stock as a huge potential ingredient in that mix. In the first few months after roll-out, Stockpile’s most enthusiastic customers were older Americans looking to get younger relatives into the habit of investing - “People over 30 giving to people under 30,” as Schatt put it - and that’s served the company well a full third of Stockpile’s user base is under the age of 25.īut where Schatt and his colleagues see potential for further growth is at an institutional level, where loyalty cards or employers rewarding their employees with gift cards, are quickly taking root. “If you have Google stock, and you don’t want it, you can transfer it to Amazon ,” Schatt said. If someone gets a Stockpile card for $100 worth of Google stock - about 14 percent of one share, based on where the stock’s price closed Friday - the $100 easily can be used in some other way. That’s exactly how Stockpile cards work, but in this case, the store is the U.S. Schatt says a full 90 percent of them have used one at some point or another, and they’re familiar with the concept of how they’re supposed to work: You get a set amount of money that can be used to buy anything at a certain kind of store. Yet consumers are comfortable with gift cards. Just 14 percent of American adults directly own stock, and many of them are intimidated by the prospect of having to choose a broker, amass the money necessary to maintain a minimum balance or even pay into accounts they already have. The brokerage and its gift cards, which Stockpile spent nearly three years clearing with the Financial Industry Regulatory Authority and the Securities and Exchange Commission, represent a novel approach to a long-standing problem. Stock trades cost just 99 cents, there are no minimum balances or monthly fees, and it costs nothing to transfer money in from other accounts. But unlike most other brokerages, Stockpile’s fees are lighter than most traditional brokerages. Once consumers have set up accounts, they can buy, sell and trade their shares like they might with any other brokerage firm. You might also have to pay an additional amount, typically $25, to cover any transfer agent fee.A sampling of some of the gift cards offered by Stockpile, a digital brokerage firm that sells partial shares of blue chip stocks in supermarkets and other large retailers across the country. The basic $40 fee includes a cardboard frame. Other direct plans with kid appeal include Harley-Davidson and Nike.Ĭertificates. GiveAShare can send you real paper stock certificates from companies kids know, including Facebook and Netflix. (An adult must open a custodial account to hold a minor's stock.)ĭirect stock purchase. The Walt Disney Company's direct stock purchase plan lets you buy stock directly from Disney for an initial cash investment of $175. The Stockpile cards display a particular company's name (shown above), but holders can purchase shares-or fractional shares-of many companies or exchange-traded funds. Or buy an actual Stockpile gift card, available at Amazon, Target, and other retailers. Gift cards. At Stockpile, an adult can create a custom e-gift card entitling the recipient to buy stock in Apple, Coca-Cola, or hundreds of other choices.
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