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Messages - Debt Free

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Investors - LC / LC's restriction on multiple accounts
« on: August 26, 2016, 09:46:37 PM »
Investing via LC for almost 4 years now.  I have four accounts under my tax id (excess business cash, joint with my wife, and two more, one for each of my kids' college fund).  All are taxable accounts (not going into my reasoning).  Opened another under my wife's tax id for an IRA.  At that time, they "allowed" 4 accounts per tax id.  I questioned it as they offer a vast array of account types for multiple reasons.  "That is all that the platform will allow, but hope to update that in the future." was the response I got.

On another front, I went in on the IPO last year, took a nice profit from it, and still hold a position.

Fast forward to now.  After periodic phone calls to them over the last four years, I finally got an upper tier rep to permit a manually opened account for a SEP IRA for myself on a "one time basis".  However, I would like to still open two more IRA's under my tax id for an Inherited IRA ($22,000) and a Roth IRA ($20,000).

They now state that each tax id is limited to THREE accounts.  This makes no sense to me considering they offer so many account types.  I've read many articles that state that they want more investor's money to support the borrowers.

Has anybody else ran into this issue and found a work-around other than pestering the heck out of them?  While I'm not an institutional investor, they claim that they will always support the "little guys" that the platform was designed for.  I won't get into the lack of note classes as of lately as that is off my main topic of wanting to open more accounts.

The only thing I can think of is to open two more accounts under my wife's tax id and SLOWLY move the college fund assets over to those, thus freeing up two accounts for me.  However, being that I have my business account, our joint account and soon to be my SEP IRA, I'm still in the position of being BARRED from opening any more accounts.

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