Wells Fargo reinvest dividends

Wells Fargo DRIP: Dividend Reinvestment in 2022

Wells Fargo dividend reinvestment program fee and enrollment. Wellstrade DRIP plan for stocks, mutual funds, ETFs, and ADRs. Is it free?

Wells Fargo DRIP Plans

WellsTrade clients can enroll stocks and exchange-traded funds in the broker’s DRIP service, which is free of charge. The WellsTrade site does not have an on-line form that can be submitted, nor is there a paper form that can be used to enroll.

To sign up for the firm’s DRIP service, you need to call WellsTrade at 1-800-872-3377 and request that your stocks and ETF’s be enrolled. You will need your account number. If you don’t have it, the broker will take your Social Security number. You can request your entire account to be signed up or just particular securities. If you want to modify your account’s DRIP policies in the future, you just need to call back and request a change.

Wells Fargo Advisors, a full service traditional brokerage firm, has the same DRIP policies as WellsTrade.

Competitors With DRIP

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Mutual Fund
Annual IRA
M1 Finance Get $10 cash bonus for $100 deposit at M1 Finance. $0 na $0 $0
Ally Invest Up to $3,000 cash bonus + $0 commission trades. $0 $9.95 $0 $0
TD Ameritrade $0 commissions + transfer fee reimbursement. $0 $49.99 ($0 to sell) $0 $0

Advantages of the DRIP Service

With a Dividend Reinvestment Plan, you can have all cash payments from a stock or ETF reinvested as fractional shares. Technically, there is no such thing as a fractional share. It is simply an accounting service that the broker provides. When it’s time to sell the entire position, if there is a fractional share, WellsTrade will simply exchange it for cash at the prevailing market rate, and deposit the cash in your account.

As an example, suppose you have a DRIP set up for IBM. It pays a quarterly dividend. Recently it has been paying $1.50 per share. Because the stock is currently trading for roughly $140 per share, you would need 94 shares to receive enough cash to purchase one more share of the stock. If you only have 50 shares of IBM, you would receive $75. The $75 won’t be enough to purchase a share of stock. At a market price of $140, the cash dividend you received will be pocketed by WellsTrade, who in turn will give you 0.536 shares of IBM, the equivalent of $75.

All of WellsTrade’s customers who own IBM will also receive dividends on the same day. The broker can accumulate all the cash payments in accounts that are signed up for DRIP service, and use this money to purchase whole shares of the stock. When you reach a whole share at the next dividend payment, WellsTrade will credit your account one of these whole shares.

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Mutual Funds

Dividends and capital gain distributions can be reinvested in mutual funds as well. You can establish your preference for these distributions by calling the broker or setting your preferences on the mutual fund order page.


Other brokers provide DRIP service, and some of them offer a more convenient program than WellsTrade. TD Ameritrade clients, for example, can sign up for a DRIP plan with a user-friendly on-line form. The web page can be used to enroll individual securities or an entire account. TD Ameritrade does not charge anything for its service.

Other online broker dividend reinvestment plans are listed under this link.

Wells Fargo Investing Review

Wellstrade rating

Read complete review of Wells Fargo Investing.

WellsTrade Overview

Customers can choose the level of hand holding desired. They can have an advisor, whom the customer meets with and the advisor directs them in their investing decisions, or the customer can make all the investment decisions themselves, or anywhere in between. The online site is conducive to any level the customer is comfortable with. They have videos with product and investing information. Wells Fargo offers research, commentaries, investor recommendations, quotes and trading ability, all online. This gives investors access to top of the line information to accompany their trading decisions. They offer educational information which describes different trading options like stocks, bonds, mutual funds, or options. This allows customers to educate themselves with the various trading vehicles. The customer can then seek the advice of an advisor, with a better understanding of what options are provided and what benefits they offer.

Taken as a whole, there isn’t a lot of reason to be a Wellstrade customer if you are not already banking with Wells Fargo bank. For customers that would meet the requirements for the PMA package, this might be a viable add-on. If you are not a Wells Fargo customer, there is very little here to justify the fees. The company doesn’t stand out in any area. Combine that with high commissions, and there is not much reason to choose Wellstrade when there are so many better options available in online investing industry.

About the Author
Chad Morris is a financial writer with more than 20 years experience as both an English teacher and an avid trader. When he isn’t writing expert content for Brokerage-Review.com, Chad can usually be found managing his portfolio or building a new home computer.